Actually, I've got 2 put diagonals. One I can close for a loss, the other I can close for a credit that is twice the loss of the other so a net gain there (although very small and using mids). October will be about breakeven when I figure in commissions. Not too bad considering the market screamed staight up to my short call. I will close out the put diagonals soon (holding on looking for at least a little uptick in the VIX in the next day or two) and start looking at November plays.
SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Actually, I've got 2 put diagonals. One I can close for a loss, the other I can close for a credit that is twice the loss of the other so a net gain there (although very small and using mids). October will be about breakeven when I figure in commissions. Not too bad considering the market screamed staight up to my short call. I will close out the put diagonals soon (holding on looking for at least a little uptick in the VIX in the next day or two) and start looking at November plays.
Yup.... if i add more i need to spread them out so it does not dip on a rise in the market and drop in vols. i think we have limited drop in vols by Oct expiration. Gonna first test effects of 2% drop whic is the maximum i see....
Well, I finally closed my OCT 1335/1350 spreads for 12 debit. I took 5.9 credit for them so it is a loss of 6.1
They held up pretty well around 1:1 risk/reward even after being 25 ITM.
With the ES trades I did on the long side (held some from 1333
), this month will end up in a scratch.