SPX Credit Spread Trader

Quote from Heatheranderson:

Cache
I use OX and IB for charting and trading respectively.I have no idea about TOS. If its not too much trouble, i would like to hear more about it.thanks

You can check out the software at the thinkorswim website.
 
Cash is implied at 124700. I hope we see a bounce, but today was extremely troublesome. The fact that we couldn't hold a 10 point gain and closed down the equivalent is ominous. Who knows, we could be up 20 on SPX tomorrow, although I'd bet on limit-down over 20 up.
 
Quote from Heatheranderson:

cashe
thanks.I will grope around OX to find something similar.I dont know if i can check out the software in TOS without opening an account...

Heather they will let you do 2 weeks free..and probably more if you ask!
 
Sold ES long at 1251. Gain 2 points per car. Still trading at a 4.5 point discount to cash. This will probably get bid up to 1255 or so later on.
 
When the market opened up strongly I took off the GTC order since I was going to be out all day and do not like leaving an order like that. I will place another order tonight a little further OTM given the drop.

In my prop account I bought 10 AUG 15 Calls for $1.65 or so and they were at $1.75 or higher on the bid so gonna play run up in IV over the next few months.

Will let you know if I get filled. Family medical emergency is gonna keep me away from the computer during most trading hours the next week or so, so we will see if I get any JUNE positions.




Quote from Aardvark:

soooooooo COACH did you get filled today or NO?
 
Placed a GTC order for the following:

-225 SPX JUN 1150/1165 Put Spreads @ $0.85.

VIX spike helping me go further OTM if I get filled. Will most likely add some VIX or SPY partial hedges early since I do not think 1165 is at risk but 1200 could come into play soon if we keep seeing selling pressure like today.
 
How do you decide when to lock in a profit with a fly versus just closing (offsetting)?

Quote from Cache Landing:

Not just yet on the bear calls. If we reach 1280 I will be selling them.

I did however, convert some of my bull puts into flies at the peak this morning (offset the rest of them). Locked in a guaranteed profit, and if we settle back down around 1250 then I will make some decent money.
 
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