SPX Credit Spread Trader

donna alert...took my 10c upside hedge at 1325call off...$1.05 (pd 1.95) also taking some profit on the 1225/1240p or at least trying to:) haven't got filled....looking at buying April puts...as the oscillator looks to be overbought...
 
Quote from DonnaV:

donna alert...took my 10c upside hedge at 1325call off...$1.05 (pd 1.95) also taking some profit on the 1225/1240p or at least trying to:) haven't got filled....looking at buying April puts...as the oscillator looks to be overbought...
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got filled on my April Long Puts...tried 1195 but when it just sat put in an order for 1200 and that got filled at $2.80...too early to sell for the credit spread...thinking April could go pretty low if its anything like last year.
 
1295 Resistance to SPX: Buh-BYE.

Nice drop off today allowing our time decay to churn on all the call positions. I think put spreads way OTM are still safe for MAR expiration but this constant bouncing is just letting theta do what it does best :)
 
Trying for .25 on the MAR 1230p/1225p .... bid of 0 and ask of .7 .... think I'm getting filled? ..... ugh MM !

Quote from optioncoach:

1295 Resistance to SPX: Buh-BYE.

Nice drop off today allowing our time decay to churn on all the call positions. I think put spreads way OTM are still safe for MAR expiration but this constant bouncing is just letting theta do what it does best :) [/QUOTE
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You may get filled depending on how many contracts your trying to trade...I had 20 short puts at 1240...rolled 10 down to 1230...cost me .45...
Quote from Synaptic:

Trying for .25 on the MAR 1230p/1225p .... bid of 0 and ask of .7 .... think I'm getting filled? ..... ugh MM !

Quote from optioncoach:

1295 Resistance to SPX: Buh-BYE.

Nice drop off today allowing our time decay to churn on all the call positions. I think put spreads way OTM are still safe for MAR expiration but this constant bouncing is just letting theta do what it does best :) [/QUOTE
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Ended up getting filled on 2 separate orders for a total of 120 contracts of the MAR 1235p/1230p for .25. .... completes my IC for MAR ... (didn't think I would even be in an IC this month). Guess I'm rooting for Uncle Theta now!


Quote from DonnaV:

You may get filled depending on how many contracts your trying to trade...I had 20 short puts at 1240...rolled 10 down to 1230...cost me .45...
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Quote from Synaptic:

Ended up getting filled on 2 separate orders for a total of 120 contracts of the MAR 1235p/1230p for .25. .... completes my IC for MAR ... (didn't think I would even be in an IC this month). Guess I'm rooting for Uncle Theta now!
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thats a lot of contracts! no wonder you were having a hard time...not much volume at 1235 or 1230 it seems
 
Quote from Synaptic:

Ended up getting filled on 2 separate orders for a total of 120 contracts of the MAR 1235p/1230p for .25. .... completes my IC for MAR ... (didn't think I would even be in an IC this month). Guess I'm rooting for Uncle Theta now!
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There is no theta on a $25 vertical. It's essentially a binary-bet.
 
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