SPX Credit Spread Trader

RichardRimes · Sep 9, 2006

Quote from rdemyan:

Yeah, I read your earlier post on using the SPY quarterly and it sounds like a good idea. Have you done any trades on these that you'd care to share.

Looking to put on an EOM short 1250 or 1260 and long OCT 1280 put to try out but need to be home and look at date...gone this weekend.

rdemyan · Sep 9, 2006

RR:

I'm getting confused. Isn't the SPY 1/10th of the SPX? So you're talking about the SPY equivalents for the SPX values you mention, right?

2000K???! As I say to my better half, "Are you loco?".

If I had that kind of coin, I'd be out on my extreme yacht, and not worrying about black swans, greeks and DDs.

EDIT: Man, I'm a nickel and dimer compared to you

Quote from RichardRimes:

I'm looking and planning to try one either exp week or the week after if I get to an oversold point...ex sell EOM perhaps 1270 s or 1280 and buy Req Oct 1250 SPY contract 10 lots to try on for size..I think total initial risk may be around 2000K but have to wait until I get home next week (gone this weekend) so time/price has to be figured in and I would really like to see how this coming week shakes out.

El OchoCinco · Sep 9, 2006

I think what was meant was $2,000.00

RichardRimes · Sep 9, 2006

Quote from rdemyan:

RR:

I'm getting confused. Isn't the SPY 1/10th of the SPX? So you're talking about the SPY equivalents for the SPX values you mention, right?

2000K???! As I say to my better half, "Are you loco?".

If I had that kind of coin, I'd be out on my extreme yacht, and not worrying about black swans, greeks and DDs.

EDIT: Man, I'm a nickel and dimer compared to you

too funny...NO I meant my RISK would be about 2000K if I did a 10 lot (contract on the spy) I think

of course I needed to be home with my handi dandi TOS platform to figure all that out!

RichardRimes · Sep 9, 2006

Quote from RichardRimes:

too funny...NO I meant my RISK would be about 2000K if I did a 10 lot (contract on the spy) I think of course I needed to be home with my handi dandi TOS platform to figure all that out!

then again maby I don't know my M's from my K's...coach is right two throusand dollars max risk

and I mean 127, 128 etc spy

El OchoCinco · Sep 9, 2006

2K = $2,000

2000K equals 2 Million... lol

Heatheranderson · Sep 9, 2006

https://www.marketcompass.com/main/software/default.asp

coach
do you think the above software is useful?.

RichardRimes · Sep 9, 2006

Quote from optioncoach:

2K = $2,000

2000K equals 2 Million... lol

told you I got my M's and K's mixed up

tplast · Sep 9, 2006

Quote from RichardRimes:

I'm looking and planning to try one either exp week or the week after if I get to an oversold point...ex sell EOM perhaps 1270 s or 1280 and buy Req Oct 1250 SPY contract 10 lots to try on for size..

Did you mean overbought point? I think they are a better play when you expect volatility to increase.

RichardRimes · Sep 9, 2006

Quote from tplast:

Did you mean overbought point? I think they are a better play when you expect volatility to increase.

Your right that it is better if vol does increase but I want to be on the oversold side of the ledger then have it oversell somemore! Lets face it timing is everything we want it just slightly oversold then wham after we set up our strategy we want it to take off to the down side and vols increase