SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Rolled the Nov 1350c to a Nov 1375c, which places the upperside of the SPX Call Diagonal into a Call Calendar. The cost wiped out the profits for the month up to this point. A VEGA spike would still create a nice profit. Current upside has no risk. BE is unlimited, but at the cost of rolling up to 1375 Call Calendar.
RUT Double Diagonal is really looking good. It's right where it was opened a few weeks back, but a little VEGA would be appreciated
There was no panic to roll... as would be in a Credit Spread. Yes, I did take a loss, and I accept the loss as part of trading. What I found interesting was that just two days ago, the position was very profitable... even through the strong up trend, but the big up day move to 1350 was detrimental and was cause for the roll. In hind sight, with all the upside pressure.... taking the position off for a profit early this week would have been prudent... the trend is very strong.
Still hoping for more downside....
M~
RUT Double Diagonal is really looking good. It's right where it was opened a few weeks back, but a little VEGA would be appreciated
There was no panic to roll... as would be in a Credit Spread. Yes, I did take a loss, and I accept the loss as part of trading. What I found interesting was that just two days ago, the position was very profitable... even through the strong up trend, but the big up day move to 1350 was detrimental and was cause for the roll. In hind sight, with all the upside pressure.... taking the position off for a profit early this week would have been prudent... the trend is very strong.
Still hoping for more downside....
M~
It would take a while to track what I did but I basically morphed my 1375/1400 into bullish positions both in Oct and Nov. I am not gonna fight the trend or the magnitude.
So I converted my diagonal into a call ratio spread and a call ratio backspread respectively for a small net debit. Let the good stocks roll!
So I converted my diagonal into a call ratio spread and a call ratio backspread respectively for a small net debit. Let the good stocks roll!
OC got a new crystal ball.
Murray
If you dont mind, can you please show your initial double diagonal position numbers, two days before numbers when it was showing profit and and after you took the loss.
everyone will benefit by comparing the DD numbers. thanks
If you dont mind, can you please show your initial double diagonal position numbers, two days before numbers when it was showing profit and and after you took the loss.
everyone will benefit by comparing the DD numbers. thanks
Sorry... typo
Rolled the Oct 1350c to Oct 1375.... so the current call side is an Oct1375c/Nov1375c Call Calendar.
In another account I did the identical roll, but bought back half of the Oct 1350c first for a loss, then rolled the rest up to 1375.
Thanks for catching the mistake,
M~
PS. Heather, I wish I would have taken a screen shot.... two days ago... that's a great idea... save a screen shot every day with the market data attached for reference.
Rolled the Oct 1350c to Oct 1375.... so the current call side is an Oct1375c/Nov1375c Call Calendar.
In another account I did the identical roll, but bought back half of the Oct 1350c first for a loss, then rolled the rest up to 1375.
Thanks for catching the mistake,
M~
PS. Heather, I wish I would have taken a screen shot.... two days ago... that's a great idea... save a screen shot every day with the market data attached for reference.