SPX Credit Spread Trader

11/9 - opened SPX Dec 1165/1175 put spread: credit .95
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still open Nov. xeo 1135/1140:
credit .90
closed Nov. xeo 1165/1170:
credit 1.05
closed: 1.60
loss of .55
But credit from call side helped to cushion the loss

Overall: credit of .35 on spreads
(decided to close call side based on MACD,
change of trend to upside).

open Dec. xeo 580 call (bought for 1.10).
Market usually moves higher before Thanksgiving.
 
only because I'm REALLY REALLY bored or is it board...the problem with IB is that they do NOT allow for defined risk trades in an IRA and TOS does...I NEED to find a LIFE...

Quote from riskarb:

IB's the only place to go for retail options. The ability to trade flies/condors/calendars/arbitrage electronically with a single b/a through ISE is great. You can route electronically through the remaining exchanges with guaranteed fills if hitting the posted b/a.

TOS does not have that ability and their commish is significantly higher.
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I was gonna say, Donna.

Didn't you post on another forum several months ago that members of that forum should "Take the Weekend Off" and now you're not following your own advice :)


Quote from DonnaV:

only because I'm REALLY REALLY bored or is it board...the problem with IB is that they do NOT allow for defined risk trades in an IRA and TOS does...I NEED to find a LIFE...
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YOU are absolutely right...my husband is out of town and I am pursing (with too much wine) the other threads..please GOD..hope no one is reading....HEY what are YOU doing on a Saturday nite???? I do have a daughter...however she is in a relationship.... oh well....:p


Quote from rdemyan:

I was gonna say, Donna.

Didn't you post on another forum several months ago that members of that forum should "Take the Weekend Off" and now you're not following your own advice :)
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Interesting thought!

But my "better half" already thinks I spend too much time in this chat room. I explained that this is a forum of intelligent people looking to educate themselves on credit spreads (oh yeah, and make a fast buck or two.)

So, on that note, I think it's time for an exciting evening of HGTV.

Have a nice evening!

Quote from DonnaV:

YOU are absolutely right...my husband is out of town and I am pursing (with too much wine) the other threads..please GOD..hope no one is reading....HEY what are YOU doing on a Saturday nite???? I do have a daughter...however she is in a relationship.... oh well....:p [/QUOTE
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Quote from DonnaV:



11/11 sold 1245 (currently have 1250 long)...for 1.30
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That is a very aggressive move with the 1245 strike only 10 points away from the market right now. Let's hope for some so-so to down PPI and retail numbers on Tuesday!

I would have been reading/writing more on this board last night but my wife wouldn't let me out to play ;->

ryan
 
I guess that doctor in Utah would have 3x the difficulty posting on this board on Sat night...

Quote from ryank:

That is a very aggressive move with the 1245 strike only 10 points away from the market right now. Let's hope for some so-so to down PPI and retail numbers on Tuesday!

I would have been reading/writing more on this board last night but my wife wouldn't let me out to play ;->

ryan
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I've been working on my exit strategy..First will sell my (new )put spread and actually more concerned about pricing that right as I do think the spx will head south rather than north this coming week...2 reasons...1) looking at the yearly chart it has been almost straight up since Oct 21. I calculated that a 5% rise from the set in Oct would take it to approx 1242....but I don't really see the same Nov as last year due to the election rally (people were glad there was actually a resolution that nite)
2) after my last visit to Costco comparing notes with my girlfriend I noted several items I regularly buy have gone up in price in a big way...I think we are starting to see the followthru of high oil prices now being passed on to the consumer so I think the ppi (I assume you mean the producer price index) will be up which will cause renued inflation worries and take the mkt down.

if I'm wrong on direction my 5 pt spread will be closed partially financed by the new put spread...or if I'm wrong big time and it looks like we will hit 1240...I'll look at doing a b-fly....thats my plan:) and it took me awhile to get Andy's comment...even though I did spend 4 (very long) years in Utah:D


Quote from ryank:

That is a very aggressive move with the 1245 strike only 10 points away from the market right now. Let's hope for some so-so to down PPI and retail numbers on Tuesday!

I would have been reading/writing more on this board last night but my wife wouldn't let me out to play ;->

ryan
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:) :)
 
Donna, careful buying things at Costco! At least one study has shown that buying in bulk leads to overconsumption. Costco is such an American phenomenon just like SUVs... big, big, BIG. In Europe and Asia, people buy groceries each day while *walking* home. They don't have huge houses with giant refrigerators,... and 70% of the population is not overweight like here. OK, back to credit spread.

PS. Costco does have good vacation deals though. I like Trader Joes better anyway. And we shop at Costco too.


Quote from DonnaV:

I've been working on my exit strategy..First will sell my (new )put spread and actually more concerned about pricing that right as I do think the spx will head south rather than north this coming week...2 reasons...1) looking at the yearly chart it has been almost straight up since Oct 21. I calculated that a 5% rise from the set in Oct would take it to approx 1242....but I don't really see the same Nov as last year due to the election rally (people were glad there was actually a resolution that nite)
2) after my last visit to Costco comparing notes with my girlfriend I noted several items I regularly buy have gone up in price in a big way...I think we are starting to see the followthru of high oil prices now being passed on to the consumer so I think the ppi (I assume you mean the producer price index) will be up which will cause renued inflation worries and take the mkt down.

if I'm wrong on direction my 5 pt spread will be closed partially financed by the new put spread...or if I'm wrong big time and it looks like we will hit 1240...I'll look at doing a b-fly....thats my plan:) and it took me awhile to get Andy's comment...even though I did spend 4 (very long) years in Utah:D


:) :)
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