SPX Credit Spread Trader

Do not forget my holiday gift to all my friends here posted on the previous page, I do not want it to get lost in the thread!

:)


Quote from optioncoach:

FREE HOLIDAY GIFT FROM COACH PHIL

As a way of thanking all for pariticipating in this thread and sharing their ideas and experiences, both pro and con, I wanted to offer a little free gift for all, one which I offered on my radio show and wanted to extend to all here as well.

The gift is the first chapter of my book in PDF format for all attached below as a link. The first chapter of my book, Option Trader Handbook, is focused solely on Risk and Trade Management (no option strategies are covered). I am not pushing the book or trying to spam you. I am offering this for free here for you to read at your own leisure with no conditions or promises or catches. I want to push my theme of risk management and that is all this chapter covers in general. You are not under any obligations and I do not expect all to love it. For those really advanced traders I am sure they have mastered risk management ideas and this is not new to them.

So Happy Holidays to all and please accept this gift solely as a good will gesture to all of you and your efforts here. I put no conditions on this gift except to enjoy! If it makes you buy the book, great, if it does not, just as great since it is, as I said, an unconditional gift from me to you. Risk management is so important I want this gift to realy mean something. I have enjoyed this profitable trading year more than any I have had in the past and it is because of the fun of exchanging ideas here.

Whether you like the chapter or not, please send your comments to me in PRIVATE as I do not wish to clutter this board with that topic or offend others who find it spammy. This is a gift, nothing more, nothing less. Please take it as such....

Happy Holidays and here is to a PROPSPEROUS 2006 with limited risk!

Coach Phil
More...
 

Attachments

Coach,

If you're feeling up to the challenge... it may be a worthly experiment to test out the fills, best fills, and time of fill, at all three brokers.... OX, TS, ToS... all at the same time.

I think you're one of the few who have accounts at all three.

My reasoning here is... I think ToS has made the greatest strides in the past year.... software & customer support... over the other two (TS & OX), but I really think TS is coming to compete with OX & ToS. They have lowered the commissions, lowered the minimum monthly contract requirements, etc. And I really like TS's charting and analysis software a little better than Tos.

It may be interesting to test the waters now... and again in six months from now..... kinda like data sampling.

Thanks,

Murray
 
One small problem.... I do not trade options at TS. It is a separate account from futures.





Quote from Sailing:

Coach,

If you're feeling up to the challenge... it may be a worthly experiment to test out the fills, best fills, and time of fill, at all three brokers.... OX, TS, ToS... all at the same time.

I think you're one of the few who have accounts at all three.

My reasoning here is... I think ToS has made the greatest strides in the past year.... software & customer support... over the other two (TS & OX), but I really think TS is coming to compete with OX & ToS. They have lowered the commissions, lowered the minimum monthly contract requirements, etc. And I really like TS's charting and analysis software a little better than Tos.

It may be interesting to test the waters now... and again in six months from now..... kinda like data sampling.

Thanks,

Murray
More...
 
Looks like the bullish breakout has been reconfirmed in the SPX with the movements in the past few days. Makes puts still the side to be on for selling premium. I still see 1340 as a projected price target in the next two months. Perhaps I should look into buying the deep OTM 1330/1340 call spread lol for FEB or later. Either way I will still ride the move higher with puts in JAN and FEB.
 

Attachments

Why not? It's about 8 weeks to expiration and the current mid on the 1330/1345 is $1.10. However, given the likelihood of a Santa Claus rally at the end of the year, probably would be better to wait and get an even larger credit or go further OTM.


Quote from optioncoach:

Looks like the bullish breakout has been reconfirmed in the SPX with the movements in the past few days. Makes puts still the side to be on for selling premium. I still see 1340 as a projected price target in the next two months. Perhaps I should look into buying the deep OTM 1330/1340 call spread lol for FEB or later. Either way I will still ride the move higher with puts in JAN and FEB.
More...
 
Actually I offered the suggestion that if 1340 is my price target then perhaps I should BUY the OTM call spread 2 months out.....

Quote from rdemyan:

Why not? It's about 8 weeks to expiration and the current mid on the 1330/1345 is $1.10. However, given the likelihood of a Santa Claus rally at the end of the year, probably would be better to wait and get an even larger credit or go further OTM.
More...
 
I'm still gonna wait probably until the end of the year or early January. But in anticipation, I called to have the FEB SPX 1335 and 1340 added.

BTW: I know you have the 45 day rule, but do you make exceptions.

Quote from optioncoach:

Actually I offered the suggestion that if 1340 is my price target then perhaps I should BUY the OTM call spread 2 months out.....
More...
 
Quote from optioncoach:

Actually I offered the suggestion that if 1340 is my price target then perhaps I should BUY the OTM call spread 2 months out.....
More...

If you're correct, VIX is going to be down to nothing, and we'll have no premium to sell at all.....
 
You must log in or register to reply here.
Back
Top