I haven't been following this thread but the title "Sell OCT SPX puts" tells me it's time to let this one go.
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Sell OCT SPX puts
- Thread starter Jahajee
- Start date
Quote from Jahajee:
I don't have to sell you anything. I don't want to sell anything to anyone. Lose the ego. The lesson to be learnt is if you can't do something then do not believe others can't. In context of this discussion: you are wimps who cannot manage selling puts or calls and cannot trade S&P futures and you believe no one else can. Pathetic.
Sell you stuff? I do well, thank you. I enjoy trading. I don't want to spend my time selling anything to losers like you and the bunch of talkers. Stay on the sidelines and wimp away and watch how it's done.
I had to quote this before he edits his stupidity.
You can't manage the put trade. The terminal risk is too large to hedge practically. $8k in premium is 31 points on a single big SP. It's simple maths -- the hedge becomes the primary trade, which proves the point that you HAVE NO BUSINESS SELLING PUTS. You wouldn't know your gamma/dgamma risk if it fell from the sky and landed on your face. You somehow believe it takes a special skill to write premium? You sold a single SPU8 as a hedge against $8k in deep puts with a 5-point futures stop? What happens when spot rallies 5 and reverses?
As an example -- I trade with a guy who gamma-trades long vol. He earned the daily ATR today on futures scalps. You're hedging garbage and taking on unlimited risk for $8k in premium.
Please continue to respond; it's just beginning to get interesting.
Quote from Jahajee:
Sep 17
Closed overnight position short SPU8 @ 1188 - Profit 25 points - $6,250
SOLD 40 OCT SPX @ 4.15
Closing price = 8.00
10 OCT XLF 18 calls @ 2.40; closing price 1.95
8 OCT XLF 19 calls @ 1.85; closing price 1.60
10 OCT USO 75 calls @ 3.60; closing price 6.10
10 OCT USO 78 calls @ 4.05; closing price 4.40
ESU8 trades: see attached chart, 15-lot position
Profit 16, 125
Looking to sell SPZ8 in overnight session
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Quote from Jahajee:
Quote from Jahajee:
SEP 16th 2008:
Closed overnight SPU8 short position - sold @ 1209 and bot @
1188 - Profit 21 points
SOLD 20 OCT SPX 1000 PUTS @ 4.45
Total position: SOLD 40 OCT SPX @ 4.15
Closing price = 2.20
BOT 10 OCT XLF 18 calls @ 2.40; closing price 2.83
Previously : bot 8 OCT XLF 19 calls @ 1.85; closing price 2.25
BOT 10 OCT USO 75 calls @ 3.60; closing price 4.40
Previously: BOT 10 OCT USO 78 calls @ 4.05; closing price 3.02
Sold Short 1 SPU8 @ 1214
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Closed SPU8 @ 1188 - Profit 25 points
If markerts cooperate, I will short again in regular session in a few minutes. Can't update real time but I am looking to buy SPX puts on rally to 1225 and above.
Closed SPU8 @ 1188 - Profit 25 points
If markerts cooperate, I will short again in regular session in a few minutes. Can't update real time but I am looking to buy SPX puts on rally to 1225 and above.
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Sep 17
Closed overnight position short SPU8 @ 1188 - Profit 25 points - $6,250
SOLD 40 OCT SPX @ 4.15
Closing price = 8.00
10 OCT XLF 18 calls @ 2.40; closing price 1.95
8 OCT XLF 19 calls @ 1.85; closing price 1.60
10 OCT USO 75 calls @ 3.60; closing price 6.10
10 OCT USO 78 calls @ 4.05; closing price 4.40
ESU8 trades: see attached chart, 15-lot position
Profit 16, 125
Looking to sell SPZ8 in overnight session
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Attachment: es sep17.png
This has been downloaded 15 time(s).
SEP 19
Will be closing XLF and USO calls
I may actually sell a few XLF calls...
Will be buying 40 1025 or 1050 OCT SPX puts - to lock in profits on 40 SPX OCT 1000 puts and adopt a slightly bearish stance
Will be selling OCT SPX calls - OTM, far OTM
and, scalping S&P futures on the short side....
Have a good weekend