SPX Credit Spread Trader

Quote from domestic:

rally, my put spreads (er2) all untouched and solidly otm; after an er2 8% plus one week correction. net this month 10% plus on my my account.
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Are you telling me that your short put spreads are up 10% during this sell off? If not, then i dont see what your gains have to do with anything.
 
Quote from rallymode:

Are you telling me that your short put spreads are up 10% during this sell off? If not, then i dont see what your gains have to do with anything.
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no, i will clarify: for every 10k in cash, i cleared 1k for the month. my math tells me that is 10%. as i admitted in an earlier post; one short position was 45 points otm. that was very close for me.

imo, if the market continued toward my closest CREDIT SPREAD (on topic); i was prepared to carefully react.

i am currently out of all positions; looking for april spreads. what i was trying to say in the previous post is that i survived and prospered...and most importantly; i do not think it is luck.
 
Quote from rallymode:

This is the time to sell the vertical when its worth $5 and vols are still on the high side, not when it was 50 cents ticking at 700bps.

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'Xactly
 
Quote from domestic:

no, i will clarify: for every 10k in cash, i cleared 1k for the month. my math tells me that is 10%. as i admitted in an earlier post; one short position was 45 points otm. that was very close for me.

imo, if the market continued toward my closest CREDIT SPREAD (on topic); i was prepared to carefully react.

i am currently out of all positions; looking for april spreads. what i was trying to say in the previous post is that i survived and prospered...and most importantly; i do not think it is luck.
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Did you earn 10% from selling cheap gamma i.e. fotm put vertical? That's what i was talking about. You must've have being long that cheap gamma for that yield not short. No one on this earth who was short fotm put verticals could've made 10% during this selloff.
 
Quote from rallymode:

Did you earn 10% from selling cheap gamma i.e. fotm put vertical? That's what i was talking about. You must've have being long that cheap gamma for that yield not short. No one on this earth who was short fotm put verticals could've made 10% during this selloff.
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now you got it, not bad. my return for the past 30 days consisted
of mostly short call spreads, and ratio put spreads. i had a very minimal amount of short puts because i could not get the premium and safety when er2 was trading north of 800. i would not short in the 750's. my disipline overcame my greed. i will say, it was a great feeling to sell long puts for a lot more than i paid.
i wonder how mr. taleb did.
 
Quote from domestic:

now you got it, not bad. my return for the past 30 days consisted
of mostly short call spreads, and ratio put spreads. i had a very minimal amount of short puts because i could not get the premium and safety when er2 was trading north of 800. i would not short in the 750's. my disipline overcame my greed. i will say, it was a great feeling to sell long puts for a lot more than i paid.
i wonder how mr. taleb did.
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rally, in my earlier post, i did want to bust your balls a little about the put spreads :)

even though i had very little on, i still had some in the high 600's for 1pt. just not nearly my normal monthly amount.

yip, my trading is not naked anymore. i use spreads in all; so i would not call it "unlimited risk strategy".
 
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