SPX Credit Spread Trader

rallymode · May 2, 2006

Quote from piccon:

This market is so manipulated, I don't think 1 sigma will ever work safely.

works fine, just dont spread maria's legs too far or you may get lost in the hole

piccon · May 2, 2006

Next time you place one, can you post it? I want just to see an example of your short strangle

Quote from cdowis:

>Di you mean place a short strangle 1 std deviation away from market price?

Oops.

>I would think 2std deviations might be a safer route.

It all comes down to the target premium. Again, he suggest placing it as far away as possible and still get the premium target.

BTW, regarding the black swan. He suggests one method by putting "ears" on the put side. If you have 10 longs, place two of them in front the short put, and the other eight on the wing.

cdowis · May 2, 2006

>market view is slightly bullish

My position had 20 ticks on the call spread and 30 on the put side. This made my position slightly heavier on the put side -- fine tuning the position to reflect my view of the market.

cdowis · May 2, 2006

>increading the position size.... a martingale

Not really. He just gets out after the one adjustment.

RichardRimes · May 3, 2006

In a sincere effort to develope into a better trader I have undergone a sex change...(men ARE smarter...arn't they

) Unfortunately one of the side effects is the loss of my "woman's intuition"...therefore I will not be issuing any further "alerts"

I do however have an animal friend with great animal instincts that will be joining and hopefully contributing to this thread, and will be following his picks quite closely.

RIP

momoneythansens · May 3, 2006

Donna

do I call you Richard?

Quote from RichardRimes:

In a sincere effort to develope into a better trader I have undergone a sex change...(men ARE smarter...arn't they ) Unfortunately one of the side effects is the loss of my "woman's intuition"...therefore I will not be issuing any further "alerts"

I do however have an animal friend with great animal instincts that will be joining and hopefully contributing to this thread, and will be following his picks quite closely.

RIP

RichardRimes · May 3, 2006

Quote from momoneythansens:

Donna do I call you Richard?

RR or Don...will do

ryank · May 3, 2006

Looking to get into some June puts today with the pullback. Throwing out a line at 1220/1230 to see if I can get a hit.

El OchoCinco · May 3, 2006

For JUNE I am looking at 1230 at the highest for puts and about 1380 or so on the call side if I choose to do calls. I think May will be a lot of bouncing around so if I can get in MAY in a the next week or so, I can maybe get out in the beginning of June.

We will see..

Cache Landing · May 3, 2006

Quote from ryank:

Looking to get into some June puts today with the pullback. Throwing out a line at 1220/1230 to see if I can get a hit.

Still too close to the middle opf the channel for me. I'm willing to sit it out a bit longer, and wait for a better entry.