That is still a good fill. I've been trying for the same thing since we dropped back down and no takers. I've even been as much as 0.15 below the mid.
Good job.
SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
That is still a good fill. I've been trying for the same thing since we dropped back down and no takers. I've even been as much as 0.15 below the mid.
Good job.
Seems like you have put the RUT losses behind you quite nicely and have focused forward
yes coach
i love this game and i will get better and better...
by the way, would you please give me your opinion on my post.thanks
i love this game and i will get better and better...
by the way, would you please give me your opinion on my post.thanks
Waiting for all the MAY positions to clear out. Meantime I opened a new Diagonal:
JUN/JUL SPX Call Diagonal
SOLD 18 JUNE SPX 1310 Calls @ $3.60 ($6,480)
BTO 20 JULY SPX 1350 Calls @ $2.95 ($5,900)
Net Credit = $580
MAY POSITIONS
-500 SPX MAY 1215/1225/1370/1380 Iron Condors @ $0.60
Credit = $30,000
Risk = $470,000
Return = 6.38%
VIX CALL HEDGES
Long 100 VIX MAY 20.00 Calls @ $0.20
Cost = $2,000
Long 50 VIX MAY 15.0 Calls @ $0.62
Cost = $3,100
DIAGONAL SPREADS
Sold - 24 MAY 1345 Calls @ $1.50 ($3,600)
Bought +30 JUN 1385 Calls @ $1.05 $3,150
Net Credit = $450 [/B][/QUOTE]
JUN/JUL SPX Call Diagonal
SOLD 18 JUNE SPX 1310 Calls @ $3.60 ($6,480)
BTO 20 JULY SPX 1350 Calls @ $2.95 ($5,900)
Net Credit = $580
MAY POSITIONS
-500 SPX MAY 1215/1225/1370/1380 Iron Condors @ $0.60
Credit = $30,000
Risk = $470,000
Return = 6.38%
VIX CALL HEDGES
Long 100 VIX MAY 20.00 Calls @ $0.20
Cost = $2,000
Long 50 VIX MAY 15.0 Calls @ $0.62
Cost = $3,100
DIAGONAL SPREADS
Sold - 24 MAY 1345 Calls @ $1.50 ($3,600)
Bought +30 JUN 1385 Calls @ $1.05 $3,150
Net Credit = $450 [/B][/QUOTE]
Quote from Cache Landing:
That is still a good fill. I've been trying for the same thing since we dropped back down and no takers. I've even been as much as 0.15 below the mid.
Good job.
cache,
i was surprised too, i was going to let it sit all day but got filled pretty quick. We will see ho wgood of a job it was when the SPX crashes another 20 points..LOL
Here is the fill:
It was a good thing to take some profits off the table on your calls. Sometimes booking a profit right after a loss mentally gets you back in the game and gets your focus back.
I am not 100% comfortable with 1215 as a short strike. I do not think we are crashing but as vols pick up I am inclined to give the market a little more room to run. I am personally looking at strikes below 1200 for JUN even with less than 30 days to expiration. MY advice is develop a hedging strategy now if we break 1240. Look into SPY hedges perhaps because if we fall below 1260 on a good move, then I do not see any immediate support I trust. Just over 45 points away from the index with 28 days or so left and different economic data coming is pushing it slightly in my humble opinion.
I am not 100% comfortable with 1215 as a short strike. I do not think we are crashing but as vols pick up I am inclined to give the market a little more room to run. I am personally looking at strikes below 1200 for JUN even with less than 30 days to expiration. MY advice is develop a hedging strategy now if we break 1240. Look into SPY hedges perhaps because if we fall below 1260 on a good move, then I do not see any immediate support I trust. Just over 45 points away from the index with 28 days or so left and different economic data coming is pushing it slightly in my humble opinion.