SPX Credit Spread Trader

Quote from optioncoach:

JUNE POSITIONS

Sold 225 SPX JUN 1140/1160 Put Spreads @ $0.75

Credit = $16,875
Risk = $320,625
Return = 5.26%



Went with wider strikes because was not getting the credit I wanted at the strikes I wanted. Increased IV + Put Skew is helping me go further OTM for decent premium (gotta love IV pick me ups). If we have any significant up days I might put on a small partial hedge with about $2k since volatility is picking up and we could see some more dips. I doubt 1160 is in trouble for JUNE but I might make some money on the partial hedges ;).
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I don't see a quote for 1160 in TOS, is it available?
 
I'm amazed at the volume in those lower strikes...decided to put in an order for 1165/1150 to use if I need to close my current spread...just really suprised.
 
If there was any doubt before, we are now under the 200 day ma. Need to see where we close but this isn't good, not sure where support is going to come in.
 
Quote from ryank:

If there was any doubt before, we are now under the 200 day ma. Need to see where we close but this isn't good, not sure where support is going to come in.
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Personally I would be surprised if we dropped past 1245 and stayed down.
 
Pesky gap at ES1248 needs to be dealt with.

Quote from ryank:

If there was any doubt before, we are now under the 200 day ma. Need to see where we close but this isn't good, not sure where support is going to come in.
More...
 
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