SPX Credit Spread Trader

While I think the bottom has been reached, one sobering thought == do I really want to leave an unhedged position over the weekend.
 
Quote from domestic:

i have many other spreads higher up that i received 1.5 on average that start at 1340; so honestly i plan on doing nothing and take my cash settled loss if that will come to pass. if i do lose the max, my month will be most likely breakeven. in this month, i do not even have any puts spreads, only calls.
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hey rallymode....
just for essentially reviewing a past question, i stick by my original gameplan above, but since the meltdown, i am out of all call spreads, and i wish i had told all before the meltdown , but since my post i put on some debit put spreads that i am very happy with. debit spreads are unusual for me, but i really felt this market was due and i put my money where my mouth was. with my trading atm credit spreads, a severe run up stinks, but i did receive 2.6 for a 5pt spread(the highest i ever got), and continued to average up, never did i think it would go as much. i really do need volatility to get in and out.
 
Quote from domestic:

hey rallymode....
just for essentially reviewing a past question, i stick by my original gameplan above, but since the meltdown, i am out of all call spreads, and i wish i had told all before the meltdown , but since my post i put on some debit put spreads that i am very happy with. debit spreads are unusual for me, but i really felt this market was due and i put my money where my mouth was. with my trading atm credit spreads, a severe run up stinks, but i did receive 2.6 for a 5pt spread(the highest i ever got), and continued to average up, never did i think it would go as much. i really do need volatility to get in and out.
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NICE going domestic...glad you got out alive:p
 
Not many people are talking about new put spreads today with the drop. I think we are all being pretty cautious with these 2 days of double digit declines.
 
Quote from andysmith:

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...
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Me too, the 1350/1360 call spread mid is at $1. I've been out most of the day so I think I will pass, need to do some homework before opening a new position.

Edit: that spread sank like a stone right after my original post.
 
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