SPX Credit Spread Trader

Cache Landing · May 17, 2006

Quote from rallymode:

i am also watching the 1245/1250's and 1240/1245's. I need a lil higher r/r before i pull the trigger. If we make another leg lower that will probably be what i need to get a fill. Still not too comfortable risking the return on the call side by getting into an IC for june.

Yeah, I don't like the call side yet either.

rallymode · May 17, 2006

Quote from Cache Landing:

Yeah, I don't like the call side yet either.

i would probably be entering here but i am already net bullish when i consider my other positions and taking a beating the past 2 days, so i dont want to add yet another position to that mix. A lil bounce in tech will help me rebalance and then take it from there.

i am liking the 1240/1245 at $1 here.

Cache, i am glad sox is holding up today or i might've gone skydiving today LOL

momoneythansens · May 17, 2006

Hehe, 29%+ YTD not too shabby. Was a bit

on the 1280 SPX bull put position, would rather have had that expanding gamma working for me rather than against me. Still, good job on getting out flat on the spread.

Looks like cnms has moved in!

Have we confirmed the bottom here ES 1274? Any arb buy/sell programs in next hour could shake things up!

MoMoney.

Quote from Cache Landing:

This is true!

BTW Mo, journal didn't quite break 30% return (unless QQQQ makes a big run in the next two days). Just a hair shy. Sorry to disappoint.

piccon · May 17, 2006

What will happen to my SPY 129/128 PUT. I got it @0.35 debit now it's 0.60

El OchoCinco · May 17, 2006

What will happen is what happens to all options at expiration. What exactly is your question?

momoneythansens · May 17, 2006

I move markets

Quote from momoneythansens:

Have we confirmed the bottom here ES 1274? Any arb buy/sell programs in next hour could shake things up!

scienter · May 17, 2006

Ya, when I closed mine out today alond with my 1280's, I only got .50....seems like if should be much closer to .8 or .9 by now.

So what are you doing now with your 1275's? Seems like your hedge is covering about 50% of current losses

Quote from piccon:

What will happen to my SPY 129/128 PUT. I got it @0.35 debit now it's 0.60

ready · May 17, 2006

Does this Qualify as a Black Swan event

Cache Landing · May 17, 2006

Quote from momoneythansens:

Hehe, 29%+ YTD not too shabby. Was a bit on the 1280 SPX bull put position, would rather have had that expanding gamma working for me rather than against me. Still, good job on getting out flat on the spread.

MoMoney.

Yeah, I was thinking the same thing a few days after I opened the position. I think we all knew that regardless of direction the move would be big. I shouldn't have added a -gamma position. Came out of it smelling like a rose, but I can't expect to do that all the time. In retrospect it was a mistake that I'll try to avoid in the future.

Cache Landing · May 17, 2006

Quote from ready:

Does this Qualify as a Black Swan event

Nope!

[edit] This is just a swift correction that was a long time coming.