SPX Credit Spread Trader

I agree.... how about a bear call at JUN 1350/1360?



Quote from rallymode:

Top to bottom in 2 days, this selloff exceeded my most bearish expectations. I see further downside before june is done with but we need to pause/bounce a lil perhaps.

I will be looking at bull put spreads around 1270-1280 if we get there.

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Quote from andysmith:

I agree.... how about a bear call at JUN 1350/1360?
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i dont want to position myself above the 200 MA. I am looking at the june 1345/1350s or 1350/1355s. We are not close enough yet for me to get the credit i need. Given the momentum of this seloff i am in no rush to get into put spreads yet.
 
For 1350/1355, what credit are you looking for? So you plan to enter the trade on a bounce?

Agree with you on the put spread... I'll wait...

Quote from rallymode:

i am looking at the june 1345/1350s or 1350/1355s. We are not close enough yet for me to get the credit i need. Given the momentum of this seloff i am in no rush to get into put spreads yet.
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Quote from rallymode:


I will be looking at bull put spreads around 1270-1280 if we get there.
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If we get where? We are at the bottom of the channel per your chart.
 
Quote from ryank:

If we get where? We are at the bottom of the channel per your chart.
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yes i know, but i think i mentioned this last month, i am only playing the call side until we get a correction in the index. Put spreads introduce too much risk in my strategy(more than the call side) so i am being cautious here. I already got a call position for june, i am in no rush to introduce unnecessary risk.
 
Quote from andysmith:

For 1350/1355, what credit are you looking for? So you plan to enter the trade on a bounce?

Agree with you on the put spread... I'll wait...
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i am looking for $1.2-1.4 credit. I probably won't wait for the bounce as by then it will probably be too late. I will probably just jump in on the first firming. I dont think i will get it but thats my entry, i have no problem sitting out the put side another month.
 
I'm tempted to put on the call side today even though SPX is plunging... the credit is holding up though because VIX is high...


Quote from rallymode:

i am looking for $1.2-1.4 credit. I probably won't wait for the bounce as by then it will probably be too late. I will probably just jump in on the first firming. I dont think i will get it but thats my entry, i have no problem sitting out the put side another month.
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