SPX Credit Spread Trader

[El OchoCinco]

Added some JUN SPY Puts for partial hedges since we could run lower on the chart price breakout I will post next.


JUNE POSITIONS

Sold 225 SPX JUN 1140/1160 Put Spreads @ $0.75
CLOSED for $0.15 or net profit of $0.60 or $12,375 after commissions.

OPEN: Sold 225 SPX JUN 1330/1350 Call Spreads @ $0.15
Credit = $3,375

OPEN: Sold 225 SPX JUN 1195/1175 Put Spreads @ 0.20
Credit = $4,500.

Hedges

+ 200 SPY JUN $133 Calls @ $0.05 for $1,000

+ 50 SPY JUN $121 Puts @ $0.35 for $1,750

 

[Russ32]

Quote from optioncoach:

Interesting article on page 12 in Option Trader Mag...


http://www.optionstradermag.com/trac5oh/OptionsTrader0606.pdf

Thanks for the link coach. Its great to see a mag devoted to options.

 

[Aardvark]

OK so WHO is the yo-you single handedly turning this mkt around printing your article as we speak! looks good...

 

[El OchoCinco]

You must have forgotten the BLATANT COACH PHIL CONTRARIAN INDICATOR!

Reading above you will see that I added SPY put hedges as a little initial safeguard on my JUNE SPX put positions. Now you know what happens when I add put hedges .....

 

[Aardvark]

YUP forgot the good 'ol Phil play actually you have gotten pretty good in calling the mkt...just hoping your wrong about it going further down:eek:

 

[rallymode]

Quote from optioncoach:

Interesting article on page 12 in Option Trader Mag...


http://www.optionstradermag.com/trac5oh/OptionsTrader0606.pdf

coach,

nice indepth coverage of the ratio call spreads. Perhaps, you could've included the "repair" aspect in addition to the enhanced profits on an existing position. No disrespect to you but the option trader magazine sounds like an optionetics after hours commercial, not sure if they still run those

 

[Aardvark]

Quote from rallymode:

coach,

nice indepth coverage of the ratio call spreads. Perhaps, you could've included the "repair" aspect in addition to the enhanced profits on an existing position. No disrespect to you but the option trader magazine sounds like an optionetics after hours commercial, not sure if they still run those

Rally you need to read thru the mag. Sure they are selling something but there are many articles...at least one a month that I print out for reference...and its all FREE

 

[rallymode]

Quote from Aardvark:

Rally you need to read thru the mag. Sure they are selling something but there are many articles...at least one a month that I print out for reference...and its all FREE

Sure it's free but have you seen the advertisers? I've read through it and cant say i like the way certain things are pictured but i will save my commentary for myself. Infact, phil is pretty much one of the few who present things in a proper light. Props for that. Just my opinion.

 

[burrben]

Do you all feel comfortable putting on July positions before the Fed speaks at the end of Jun? It seems like the market keeps on reacting like it has bi-polar disorder everytime he speaks. I'm not too sure if I want to place my bets knowing that he could send the market into a large rally or decline....comments...


sd

 

[El OchoCinco]

Well not sure how a magazine can sound like an infomercial lol. It has ads like any magazine but ads for Tradestation, Optionsxpress and Thinkorswim- same thing you might see in SFO or TASC. It is from the same people who do Active Trader Mag but it is free.

As for the article, what you see was cut down from the original due to space. Unfortunately editorial guidleines kind of limit how much you can write .