SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Many times I do.
The reason that I don't all the time has to do with SET as I mentioned before, followed by riskarbs suggestion of exiting the position with 15d left to expiry.
Just some general thoughts. Lots of opinions on what is the best strategy and what will work and what will not work, why one is better and the other is worse.... Fascinating, interesting, and completely irrelevant!
There is no such thing as the best strategy, just the best strategy for you. How can we tell another that spreads [fill in the blank] otm are better than spreads [fill in the blank] otm. I enjoy the different approaches we discuss for different perspective but there is no way to say something is 100% absolutely better than the others or that there is one exact way to trade these.
I just want you all to keep that in mind when having the discussion, as I still encourage the discussion as quite helpful. I do not expect those to trade my way nor do I advocate it as the best, just the best for me.
And thanks to all here it has evolved as I have seen your different perspectives through open discussions.
There is no such thing as the best strategy, just the best strategy for you. How can we tell another that spreads [fill in the blank] otm are better than spreads [fill in the blank] otm. I enjoy the different approaches we discuss for different perspective but there is no way to say something is 100% absolutely better than the others or that there is one exact way to trade these.
I just want you all to keep that in mind when having the discussion, as I still encourage the discussion as quite helpful. I do not expect those to trade my way nor do I advocate it as the best, just the best for me.
And thanks to all here it has evolved as I have seen your different perspectives through open discussions.
Welcome.
If you want to, it would be interesting to have you post your trades so that we can follow along. When the SPX weeklies first came out, there was interest within the forum. As usual we expected Coach to put up the money (or margin) to try them out and he did. But interest has waned and I think the reason was that the number of strikes was limited and not 'FOTM enough', but I don't recall exactly.
Would be nice to see how you are trading them.
If you want to, it would be interesting to have you post your trades so that we can follow along. When the SPX weeklies first came out, there was interest within the forum. As usual we expected Coach to put up the money (or margin) to try them out and he did. But interest has waned and I think the reason was that the number of strikes was limited and not 'FOTM enough', but I don't recall exactly.
Would be nice to see how you are trading them.
rdemyan, thank you for the welcome, and thanks to all who have been making contributions to this forum. i have learned a lot... one trade that i made on 5/1/06 spx weeklies was STO 1310/1325/1295 iron fly. i had to open each leg separately b/c it is very hard to get the iron fly filled as one package or even as vertical spreads. the total credit was 11.70 which was pretty lucky. i BTC this trade on for about 8.70 on 5/03/06. again, the real difficulty is the chore of doing each leg and waiting to get filled... hopefully this provided some insight.