SPX Credit Spread Trader

[ryank]

Quote from rdemyan:

Just curious.

Did you look at the SPX as an alternative for the 1220/1210 July put spread. Current midpoint is $0.85, but I have noticed that lately the SPX midpoint on ToS is pretty much meaningless. I can't get filled on anything lately (August) even going $0.10 below the midpoint.

I'm looking at the mid vs. the theoretical price using TOS. There is definately a good sized difference between the two in many cases. I tried to get a fill that was .10 under the theo price and .25 under the mid and no luck.

 

[momoneythansens]

Sorry M,

Beer is affecting my reading comprehension skills I think....all I can see is "naked". Not sure what the question is exactly

Do I admit to a little naked directional trading of back month futures options? No, not that there's specificallly anything wrong with doing that if one is so inclined...

Short calendars et al have been executed on equities on occasion but even those were largely non-directional.

If wires are crossed, I apologize. Not sure what you are alluding to!

MoMoney.

Quote from Sailing:

Mo....

I think I see a little bit of truth in your naked statements.... can you admit to a little naked (or front month covered) directional trading of backmonth futures options?

M~

 

[rdemyan]

Hmmm....

I seem to remember an age-old adage:

Fool me once shame on you, fool me twice ......



EDIT: Have you tried clicking on the link. When I do, I go to the page where riskarb posted the baby in the devil suit with the black cat. I think you've had enough fun already, don't you.

Quote from momoneythansens:

This could be the explanation you are looking for:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1120881#post1120881

 

[momoneythansens]

The post that is directly linked to is where Phil remarks:

baby -> little sleep -> brain -> mush...

I went with Occam's razor to reach an explanation for the claimed double credit on ES vs SPX i.e. your instincts were correct is all I was pointing out...in a round about way.

Quote from rdemyan:

Hmmm....

I seem to remember an age-old adage:

Fool me once shame on you, fool me twice ......



EDIT: Have you tried clicking on the link. When I do, I go to the page where riskarb posted the baby in the devil suit with the black cat. I think you've had enough fun already, don't you.

 

[alp168]

Coach:

How do you deal with early assignment of ES option if the short strike has been hit (credit spread or similar strategy)? Thanks.

 

[Heatheranderson]

Sold 20 SPX Aug 1340/1350 Bear Calls -- $0.8 credit

Coach
Appreciate your opinion on this.I have decided not do Bull Put Spreads as we all observed markets come down faster than they go up.(As they say in the industry, the bull comes up the stairs and the bear goes out the window.)thanks

 

[rdemyan]

Got filled on the following today:

August SPX 1345/1360 bear call at $0.75

 

[ryank]

Nice to see some people getting filled today. I couldn't get filled on the Aug 1170/1180 puts yesterday and I'm having no luck on the 1345/1355 Aug calls right now. With both the puts and call I was/am .10 under the mid but no takers yet.

 

[rdemyan]

Hi Heather:

Who is your broker. Seems like a good fill. The new ToS functionality indicates that the SPX would have to be above 1280 to get the fill that you got.

Quote from Heatheranderson:

Sold 20 SPX Aug 1340/1350 Bear Calls -- $0.8 credit

Coach
Appreciate your opinion on this.I have decided not do Bull Put Spreads as we all observed markets come down faster than they go up.(As they say in the industry, the bull comes up the stairs and the bear goes out the window.)thanks

 

[rdemyan]

The b/a seem to be widening. I had to go .15 under the mid to get filled.

Quote from ryank:

Nice to see some people getting filled today. I couldn't get filled on the Aug 1170/1180 puts yesterday and I'm having no luck on the 1345/1355 Aug calls right now. With both the puts and call I was/am .10 under the mid but no takers yet.