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SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Quote from Crucis:
SPX dropped from 1281+ to 1271 in about 2 minutes! Quess that hold on interest rates wasn't what the institutions wanted to hear?
Yes I saw that amazing plunge, snap-up then quickly down. I didn't think SPX could move that quickly!!
What I've been reading prior to today is overall a bearish response regardless of what the Fed did-- if the FED didn't do a crank (like today), that people would interpret this as a weak economy and the market would pull back. If the FED did do a crank, then this would put the brakes on the market.
Frankly I'm surprised they did not do another crank with some of the huge inflation indicators out there.
>Sure will be nice when ToS expands into future options.
They are trying, but, after speaking with them, it seems the exchanges are putting up alot of roadblocks. I am guessing, but the commodities only brokers may not be happy about the possibility that high powered brokers like tos may get into commodities. I would drop Alaron in a heartbeat.
They are trying, but, after speaking with them, it seems the exchanges are putting up alot of roadblocks. I am guessing, but the commodities only brokers may not be happy about the possibility that high powered brokers like tos may get into commodities. I would drop Alaron in a heartbeat.
Quote from cdowis:
>Sure will be nice when ToS expands into future options.
They are trying, but, after speaking with them, it seems the exchanges are putting up alot of roadblocks. I am guessing, but the commodities only brokers may not be happy about the possibility that high powered brokers like tos may get into commodities. I would drop Alaron in a heartbeat.
Here is the email I received from TOS today about options on futures:
We are hoping to add them by the end of the year but are waiting for the
products to be better supported on an electronically basis at the exchange level.
All the best,
Scott
Scott Sheridan
Quote from burrben:
Sorry my bad. I'm looking at Sept/Oct since I don't want too many months in between for my first one.
Sell the SEPT 1375
Buy the OCT 1400
for a debit of 0.40
Does this trade make sense? Or short I just continue to do vert's?
peace,
burr
In my short time using diags, I see one major difference with verticals that I do not want FOTM. I *want* to be within striking distance of the market since my greatest profit is when the market hits my short just as it expires.
A 1375 short call is just too far away for me.
Here's a neutral calendar that I opened yesterday on SPX. Essentially it is hoping that volty will increase over the next month (or at least not decline).
SEPT/OCT 1210 Put Cal
SEPT/OCT 1250 Put Cal
SEPT/OCT 1300 Call Cal
SEPT/OCT 1325 Call Cal
I don't think this has any particular name. I call them "crown spreads" due to the expiration risk graph looking like a crown (to me). However, if SPX jumps up or down, it might be better to call it a "clown spread".
I like these because they have some of the "hands off" characteristics of ICs, but allow more adjusting if needed. Also, I think that being pos theta and "some" vega is good going into the autumn. I have some neg vega spreads elsewhere to decrease the horribly pos vega on this one.
SEPT/OCT 1210 Put Cal
SEPT/OCT 1250 Put Cal
SEPT/OCT 1300 Call Cal
SEPT/OCT 1325 Call Cal
I don't think this has any particular name. I call them "crown spreads" due to the expiration risk graph looking like a crown (to me). However, if SPX jumps up or down, it might be better to call it a "clown spread".
I like these because they have some of the "hands off" characteristics of ICs, but allow more adjusting if needed. Also, I think that being pos theta and "some" vega is good going into the autumn. I have some neg vega spreads elsewhere to decrease the horribly pos vega on this one.