SPX Credit Spread Trader

It is in a diagonal so I am long some more JULY calls. If the market rallies back to 1300 I have many ways to roll up the short strike and increase the contracts or roll into other positions. So in this type of strtegy I am not as concerned with the short strikes as I am in a vertical credit spread.

Quote from andysmith:

Coach, does this mean you are short JUN 1310 calls? Isn't that a bit close?
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Quote from rallymode:

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
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Wow, SPX drops another 5-points and still no fill on the 1235/1240 P. Now it's a bit close for me right now. Took my order off the table. I've gotta take a minute too look things over.
 
Coach:

I want to start looking at diagonals more seriously. So I'm trying to implement the trade you posted in ToS paper money so I can follow along and learn without risking any money. Did you really get $3.60 for the June 1310? The mid right now is $2.90.

Quote from optioncoach:

It is in a diagonal so I am long some more JULY calls. If the market rallies back to 1300 I have many ways to roll up the short strike and increase the contracts or roll into other positions. So in this type of strtegy I am not as concerned with the short strikes as I am in a vertical credit spread.
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Diagonals, time flies, whatever... are what y'all should be trading. Rolling into positions from 6 weeks, until you're at full allocation with 4 weeks out. Scalping against your delta position is actually a tenable position close to expiration, unlike these penny-verticals. JMHO.


innit?
 
I was filled at 10:57 AM and $3.60 was a good fill on the 1310. Are you sure about $2.90? Right now I am seeing $3.20/$4.00.

Quote from rdemyan:

Coach:

I want to start looking at diagonals more seriously. So I'm trying to implement the trade you posted in ToS paper money so I can follow along and learn without risking any money. Did you really get $3.60 for the June 1310? The mid right now is $2.90.
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Yeah, you're right. When I was fooling around with the paper money section the SPX went from around + 2 to -4 and I didn't notice it. The paper trade area is confusing because it's not setup the way my "real money" area is. I guess I better take care of that first.

Just found out from ToS that there is no way to do uneven quantities for the diagonal in one trade. I'd have to leg in.

Quote from optioncoach:

I was filled at 10:57 AM and $3.60 was a good fill on the 1310. Are you sure about $2.90? Right now I am seeing $3.20/$4.00.
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Quote from rdemyan:

Yeah, you're right. When I was fooling around with the paper money section the SPX went from around + 2 to -4 and I didn't notice it. The paper trade area is confusing because it's not setup the way my "real money" area is. I guess I better take care of that first.

Just found out from ToS that there is no way to do uneven quantities for the diagonal in one trade. I'd have to leg in.
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I think Sailing said you have to send it to the order desk if you don't want to risk the leg in.
 
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