SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Hmmmmm....left an order in for 1.30 [1345/1355] with obviously zero expectation of a fill....but it appears it has been filled thanks to the crazy-farm rally in my absence.
I don't even trade the SPX; hate the thing! Was just doing it to wind up Donna
I'm sure I will get taught a nice lesson as a consequence so that others may learn from my folly LOL.
Thankfully, only teeny weeny size traded.
Time spent on ET inversely proportional to good decision making and trading success.
MoMoney.
I don't even trade the SPX; hate the thing! Was just doing it to wind up Donna
I'm sure I will get taught a nice lesson as a consequence so that others may learn from my folly LOL.Thankfully, only teeny weeny size traded.
Time spent on ET inversely proportional to good decision making and trading success.
MoMoney.
Quote from Cache Landing:
You could probably get it now though. 1345/1355 mid at 1.05
I was out all afternoon...great lunch and playing cards...boy did I miss something
You guys are ALL one upping me. I still don't trust the rally...even my mother knows the fed is almost done. We have a long hot summer in front of us with sky high gas prices. I'm left with 25 may 1215 puts but will hang loose and may be sell them off later on.
mo don't get sucked into this:eek: you may regret it later on
You guys are ALL one upping me. I still don't trust the rally...even my mother knows the fed is almost done. We have a long hot summer in front of us with sky high gas prices. I'm left with 25 may 1215 puts but will hang loose and may be sell them off later on.mo don't get sucked into this:eek: you may regret it later on
Quote from DonnaV:
I was out all afternoon...great lunch and playing cards...boy did I miss something
mo don't get sucked into this:eek: you may regret it later on
Yeah, it's interesting that we had such a strog rally while oil prices hit a record high. Interest rate hikes or not, when hurricane season comes around again, drivers are going to start to feel the pinch.
I hear you on the one upping. I guess I was on the lowest part of the totem pole today 
Well, I've had my fun a few times one upping others so what goes around comes around.
I'm not sure that the events you and Cache are talking about will affect the market in time to save us on the May expiration. Still, the traders that I follow think that today was a setup by the Big Boyz and that we will come down again soon. Let's hope so.
Well, I've had my fun a few times one upping others so what goes around comes around.
I'm not sure that the events you and Cache are talking about will affect the market in time to save us on the May expiration. Still, the traders that I follow think that today was a setup by the Big Boyz and that we will come down again soon. Let's hope so.
Quote from DonnaV:
I was out all afternoon...great lunch and playing cards...boy did I miss something
mo don't get sucked into this:eek: you may regret it later on
Well from a "plan" perspective today was perfect for me. I was waiting until this week becuase I knew it was a big earnings week and figured we'd break one way or the other, and in my trading journal I wanted to do a trade if the SPX is +/- 15 and take that side. And boy did we break. So I did
100x1350/55 Calls for 0.45
but now I'm a little spooked with IBM and YAHOO both reporting better than expected earnings after the bell (at least from the emails from marketwatch), if tommorow is a upday as well, I might consider added more bear calls around the 1370 strike and look to get out of the 1350/55 when I can for a small loss. We'll see what tommorrow brings, but I have a lot of reading to do tonight!
sd
Let's hope it's lots of short covering, big boys, and anything else you can conjure up!
100x1350/55 Calls for 0.45
but now I'm a little spooked with IBM and YAHOO both reporting better than expected earnings after the bell (at least from the emails from marketwatch), if tommorow is a upday as well, I might consider added more bear calls around the 1370 strike and look to get out of the 1350/55 when I can for a small loss. We'll see what tommorrow brings, but I have a lot of reading to do tonight!
sd
Let's hope it's lots of short covering, big boys, and anything else you can conjure up!
Quote from rdemyan:
I hear you on the one upping. I guess I was on the lowest part of the totem pole today
Well, I've had my fun a few times one upping others so what goes around comes around.
I'm not sure that the events you and Cache are talking about will affect the market in time to save us on the May expiration. Still, the traders that I follow think that today was a setup by the Big Boyz and that we will come down again soon. Let's hope so.
I wouldnt panic just yet. It seems the last week has been very volatile and while i am not too fond of these wild swings that take us from the top to the bottom and back to the top of the channel all within one week, i dont think we will break to the upside.
Now that the fed is near the end and the market has priced that in, i dont see what can move us higher. Well maybe if the fed doesnt tighten in may, but thats unlikely. I will be adding tonsa bear calls as we hit the upper channel band i.e. 1315-1320.
I think today was a combination of short covering(as shorts dont want to be on the wrong side when the fed actually stops) and a relief rally coming of the recent lows. I think it was nothing but emotions, the fundamentals are still kinda gloomy in my book for this rally to continue.
Now that the fed is near the end and the market has priced that in, i dont see what can move us higher. Well maybe if the fed doesnt tighten in may, but thats unlikely. I will be adding tonsa bear calls as we hit the upper channel band i.e. 1315-1320.
I think today was a combination of short covering(as shorts dont want to be on the wrong side when the fed actually stops) and a relief rally coming of the recent lows. I think it was nothing but emotions, the fundamentals are still kinda gloomy in my book for this rally to continue.
agree
I am biased for it to go south tomorrow as I have some short strikes knocking real close to my door for APR
It is interesting that people forgot that the expectation of the fed's rate hiking days are over have been anticipated; oil is at all time highs, and we have Iran playing with uranium. But then again, I am biased
It is interesting that people forgot that the expectation of the fed's rate hiking days are over have been anticipated; oil is at all time highs, and we have Iran playing with uranium. But then again, I am biased