SPX Credit Spread Trader

Quote from rallymode:

With only 20% of the time passed you are up 90+%. I cant think of a single worthy reason why you would want to hold them even if margin wasnt an issue.
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I second the motion to close out the positions.:D The risk/reward is awful.
 
Take the nickle... look for the next position...

Quote from piccon:

I am leaning toward closing my 1375/1385 for 0.05 debit. I opened it last week for 1.00 credit

I would also close RUT 820/830 for 0.10 debit. I opened for 1.50 credit.

At the same time, I want to let them expire worthless. With 4 weeks to go, I wanted to close them to free up margin for other potential play.

Any idea?
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Hey Coach
What strikes in june are you looking @ setting up. I am already in
30 1350/1360 @ $1.90
20 1350/1360 @ $0.80
Credit = $1.50
 
June is tough for me right now. Loaded up on my largest position to date for MAY and gonna ride it out to get all the premium and save the commissions to take my profits in May.

After that I hope JUNE will not be to close too expiration for decent premium OTM. On the put side I would like to be no higher than 1230 for right now although we are flirting with breaking 1280 and a few bad days so I might want to be lower. Avoiding the call side for now since the premiums are also light but looking into diagonals using JULY/JUNE on a good rally...
 
I think we are finding support here. If SPX retakes the 1300-1302 level on a closing basis we should be good for another month of channel churning.

Of course any bad news like the CPI number tomorrow and all of this is out the window.

spxcopy1sm.jpg
 
Quote from Cache Landing:

If we make it down to 1270 I think I'll only be slightly OTM, say 1260 or so.

Quote from rallymode:

cache, whats your reasoning behind it?
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I was reading back through a couple pages and came across this post. Must have missed it. I also realized that I meant 1250. That is where I see support. Of course, if we drop to 1270 during the next few days, I will be rolling my current position down/out probably to JUN 1245/1250.
 
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