SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Quote from Dr. Zhivodka:
I just run everyting thing through a pricing model. I'm sure ToS has something like that with their software.
Today I notice that the SPX front month calls are going off at an average of about 12.1% I.V.
That's what you call free overnight money.
BTW: I won't be here to watch these Vols today as Mt Rose opens today. YeeHaw!!!!!
We're you the one trading fom a handheld in a red spyder parka?
Well just wanted to post an update. had some free time this afternoon so went through my records a little tighter to update projected returns NET commissions at the end of the year. If my 1215/1220 puts expire worthless, which I will let them do, then my final returns will be 22% on margin for the year (remembering I did not trade the first 3 months). I think my last estimate was 25 - 27% but that was not counting commissions, some partial hedges which expired worthless, and of course the most recent adjustments which reduced my DEC premium income though still a profit. I am happy with that given the number of trades I really make per month (not # of contracts, but actual exit and entries and the fact that I lost 3 months really).
This could still change depending on those puts and whether I get a JAN put position and close it by DEC 31 lol. But once the year winds down I will have an open conversation here with all to recoup the year and have a lessons learned and strategy review discussion so that we can share experience and knowledge to make us all better traders. Anyway, it was broing watching time decay today so I wanted to post
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I hope all of you had or are having success this year and I look forward to hearing your experiences with credit spreads and this thread and swapping war stories so that we start the New Year with greater knowledge.
Phil
This could still change depending on those puts and whether I get a JAN put position and close it by DEC 31 lol. But once the year winds down I will have an open conversation here with all to recoup the year and have a lessons learned and strategy review discussion so that we can share experience and knowledge to make us all better traders. Anyway, it was broing watching time decay today so I wanted to post
.I hope all of you had or are having success this year and I look forward to hearing your experiences with credit spreads and this thread and swapping war stories so that we start the New Year with greater knowledge.
Phil
Oh yeah the pic, thanks for reminding me .
.Quote from jldavid47:
Are you excited because of the theta decay working in your favor or because the market so boring that you revisited the picture of Jessica Alba?
If you can get it! Last week (Fri) I had to leg in to get a 1210/1225 for .55....a lot of interest in the 1225 not much in the 1220...good luck!