SPX Credit Spread Trader

To me it seemed like pretty normal bottom type action in the midst of a very oversold market. I traded both sides of the market today and never noticed any "trading halt" and I really doubt I would have missed something like that.

I even put on a bull put spread at 1165/1145 when the SPX was around 1240
 
Quote from traderaaa:

To me it seemed like pretty normal bottom type action in the midst of a very oversold market. I traded both sides of the market today and never noticed any "trading halt" and I really doubt I would have missed something like that.

I even put on a bull put spread at 1165/1145 when the SPX was around 1240
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Not really a hectic day and bounce was expected, but as far as I know they did "curb" trading during the initial selloff.
 
Hello ALL,

this is for the TOS users. Many of you posted to help me with the sigma calculation on the TOS software. Thank YOu. One more question, the vol calculation (for the SPX) used appears to come directly from the weeklys. Now wouldn't it make more sense to use the closest monthlys for the vol value. I think the monthlys give a more accurate picture of implied volatility than the weeklys. The vol for the weeklys bounces around very quickly, and can be extreme, whereas the monthlys seems more stable.

Thanx

Cody
 
I am new to selling bull put spreads and put on a position a day or so ago. I went short 50 of the june 650-640 put spread on the RUT for a credit of .20

During the panic selling this morning I got a little worried and decided I would try to adjust it a little bit. Of course I didnt really know what I was doing and it didnt help with the market going crazy. I ended up buying 3 670 june puts for a debit of 7.50 per contract and 5 680 june puts for a debit of 8.00 per contract.

I am now sitting with a loss of 5,520 with any expiration close above 669. Any help with this one? I am confident the market will not close below my short strike by june expiration but I am in a pickle now and need some option expertise on how I can reposition this. Thanks
 
Hey all! I am in sunny Ft. Lauderdale at the Trader's Expo and having a blast.

I kept popping over the ToS booth where crazy Tom Sosnoff with his beret was showing off all the ToS goods and I was amazed to see the SPX down to 1243 at one time lol. With a short strike of 1190 I was not concerned with a week to go but man what a huge spike and then head fake.

Anyway I got to watch Bo Yoder trade YM live the last hour of the market today and heard Larry McMillian and a few others talk. The exhibit hall is a trader's wet dream lol, along with the newsletter and system pushers of course. My seminar is on Sat morning so for now I am just a kid in a candy shop.

Anyway it was nice to see 1245, though broken sharply intraday did hold and in fact the buyers came roaring in. As for the DOW, it was a perfect completion of the bear flag continuation pattern and same with SPX within 10 points or so. Gonna do nothing for the next week and let JUNE expire worthless.

Anyway, tomorrow I will watch Dan Gramza trade E-mini futures live, listen to Matt Kearney from the CBOE and sit in on a session in Fibonacci and then Options on Futures :D
 
Well I did not mention the 1245 since I wanted him to stay your friend lol....

1245???? Not a big fan of putting short strikes AT support points. Always find the support nad start 10 - 15 points outside of it.
 
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