SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
I see, it is known and accepted risk, then. I am also coming from a futures perspective, where the risk is much more imperative when the underlying contract is different.
Hey Ryan, SEGV is a market maker so blame him for not getting filled today
Hey, in the world of market-makers, I am a cupcake.
-segv
Even in the indices there is still IV risk at expiry, because at expiry the IV of the short leg becomes irrelavent as there is no extrinsic value. If the IV of the long leg has changed from where it was initially, you have a situation that is very similar to the one described above.
UGH...I have to admit that Tuesday's buy of the 1215 puts was my third stupid/bonehead/brainless trade of 2006. At this rate I'm averaging one a month:eek: anyway I think I went to the put "well" one too many. 50 contracts was just plain greedy. April was looking very good and I wanted more. Now I need the spx to go down fast and hard. Today I sold 20 1235's against it for a whole $1.85 which is a .25 credit on a 20 pt spread...
:eek: I will just try to scalpe 10 or 20 here and there to pay the comissions. This has been a frustrating 2 months of seemingly churning...churning...churning I'm going to sit on my hands for the next two weeks...no more trading!
:eek: I will just try to scalpe 10 or 20 here and there to pay the comissions. This has been a frustrating 2 months of seemingly churning...churning...churning I'm going to sit on my hands for the next two weeks...no more trading!Quote from DonnaV:
UGH...I have to admit that Tuesday's buy of the 1215 puts was my third stupid/bonehead/brainless trade of 2006. At this rate I'm averaging one a month:eek: anyway I think I went to the put "well" one too many. 50 contracts was just plain greedy. April was looking very good and I wanted more. Now I need the spx to go down fast and hard. Today I sold 20 1235's against it for a whole $1.85 which is a .25 credit on a 20 pt spread...
Donna,
How are you allocating your account these days. I know you've got verticals, calendars, and maybe diagonals. Which is the predominate strategy?
The SPX is the centerpiece right now. Because it is making good money every month. I've slowly gotten rid of most of my stock ( I think
) (The stocks I do have I also have option position's on and are very safe/solid). I'll check this weekend...primarily because I think I'm short term bearish. So right now I've got a lot of cash...of which abt half is tied up as margin. The calendars (I did finally figure out not a big portion of the total portfolio)..each one is probably less than .01% I think all the calendars combined are less than 5%...again I haven't figured it out exactly. I don't think I have any verticals. I have one put...moth to the flame...on RMBS which I will try to exit gracefully from. Oh and the straddle on CME. I admit to overtrading this month. TOS just sent us a check for $39.95 so that means I did at least 40 trades...not good...churning...churningrdemyan, just in case you didn't know, I posted a solution in the other TOS thread for accessing the TOS platform away from your PC. Just use a remote access service like www.GoToMyPC.com and access your home (host) PC from anywhere with Internet Access. I even remotely accessed my home PC (that has the TOS platform installed) from my office behind company firewall. The only downside is that there is a monthly fee of $15 - $20 a month after the free trial.
I've always wondered how secure this is. Anybody really familiar with it? If there are many remote access sites, which is the best?
Finally got filled on my APR SPX orders.
In other news, I was all amped to see if gotomypc.com would allow me to access ToS platform from my work office. Total let down when I found out that the corp that I work for has a block on the site.
In other news, I was all amped to see if gotomypc.com would allow me to access ToS platform from my work office. Total let down when I found out that the corp that I work for has a block on the site.