SPX Credit Spread Trader

I don't see why anyone would sell call right now. That's why some people get little return or lose money compare to others using TA and indicators.

I can understand credit spread calls or buyng calls for potential Call Spreads.

JMHO


Quote from ready:

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
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I legged in for 2 days to completed my DD trade Jun/Jul 1265/1290 1300/1325 for total credit of $4.20. If the index stays range bound for one or two more weeks, I could make quite a bit from Theta. I'm experimenting with ATM sell. Here is the total Greeks on this position

Delta 1.76, gamma -.62, Theta 20.73, Vega 97.37. If the index does not move much, I make $20 a day :-)

-Nick
 
Piccon
I entered the 1st trade on Thurs when the market tanked and am thankful for a generous credit,the other was yesterday @ the top of an intraday high. Iam unsure of any higher entries and that is why I am building in small amounts, I have a ways to go before iI have a full position Thank you:p
 
Quote from andysmith:

Expecting tomorrow's CPI to be over 0.2%... SPX goes lower... although I wonder how much lower NAS can really go? :confused:
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Yeah, I opened a long call position in QQQQ this morning. I was really surprised to see another down day.

OTOH, I don't know that I fully agree on the CPI. After the 0.3% last month, I wouldn't be surprised at all to see it come in at 0.1% accompanied by a 20+ point SPX rally. It will have to be at least 0.3% to cause a down market.
 
Quote from andysmith:

Aardvark! Just listen to yourself! You are starting to sound like riskarb!
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:D :D :D THAT will NEVER happen...although my friends all think I'm speaking GREEK!!
 
Quote from rallymode:

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
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Your lips to the God of channel's ears:p CPI may be a non event..I think that was why we had so much churning today...no question we CAN go lower:eek: didn't realize MTE and I were going to drag it down with our call's:(
 
Boy this is sick...I put on a B-Fly (Paper trade) 1285/1295/1305 April 26 for .55 debt ( At that time I thought we would close lower than 1300 in May)...could close it out today for 2.75! I'm rolling in Paper MONEY:D I think tho I might start putting on a small directional B-fly sometime during the month and see how it plays out.
 
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