SPX Credit Spread Trader

Quote from Cache Landing:

Agreed, we really don't want whipsaw action, but we have come really close to closing negative today which would also be bad. I actually converted this morning because of the vol drop. Last night I had estimated that I would need a 10-11 point rise accompanied by a 200 basis point drop in vols to get a 2.00 fill. It came this morning as predicted but I had to give up 0.05 to MMs.
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Market really wants to close negative today.:eek:
 
I agree but there are a lot of ppl out there that nn to cover positions and took advantage of the bump up to get some cash to do that...both our will and patience is definitely being tested.
 
Quote from codyhopkins:

Bird flu spreading human to human is being blamed for the late selloff.
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Just good old fashioned profit taking in an uncertain market. Everyone took profits for the same reason I did this morning. That said, it was an overreaction and I do think we will end the week positive.
 
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