SPX Credit Spread Trader

[Maverick74]

Quote from ryank:

There is an OIC trade show in Chicago on 11/28, anybody planning on going? I'm going to the free part (Investor Education Day). There is another thing going on there but costs several hundred dollars, I will be skipping that part.


www.888options.com

I'm going. I know a way to get a free floor pass to walk around the exibit hall if anyone is interested.

 

[FitForLife]

I had my 1300/1310 Bull Put SPX Spread filled this week for .25 cents which is a 2.6% return. Now I will wait to complete a Bear Call SPX Spread next week for another 25 cents so that I earn 5% on this IC trade. I like earning 2%-3% per spread trade and then 4%-5% per IC trade when I can.

 

[Maverick74]

Quote from FitForLife:

I had my 1300/1310 Bull Put SPX Spread filled this week for .25 cents which is a 2.6% return. Now I will wait to complete a Bear Call SPX Spread next week for another 25 cents so that I earn 5% on this IC trade. I like earning 2%-3% per spread trade and then 4%-5% per IC trade when I can.

:eek: You are risking 9.75 to make a lousy .25? (Mav the instigator)

 

[Crucis]

Mav, what would you call a good r/r?

Most of my credit spreads are 4:1. I calculate that as max loss vs. max profit.

Cru

 

[Maverick74]

Quote from Crucis:

Mav, what would you call a good r/r?

Most of my credit spreads are 4:1. I calculate that as max loss vs. max profit.

Cru

4:1 is fine. 40:1 is suicidal. LOL.

 

[Crucis]

Quote from Maverick74:

4:1 is fine. 40:1 is suicidal. LOL.

Here's a recent SPY credit spread.
SELL -10 VERTICAL SPY 100 DEC 06 141/143 CALL @.50 LMT

[Edit]
I calculate this as having a 3:1 r/r.

Max loss= $4500
Max profit= $1500

Cru

 

[TrendSailor]

OMG SPX BUSTED through the 1389 resistance like it was butter! I AM SO GLAD I closed my SPX NOV IC rather than hold through exp!! whew...

SPX at 1392 and looking pretty beefy....

TS

 

[El OchoCinco]

I think I will just cancel my open order to sell 1305 put spreads for DEC lol.... I tried every dip these past weeks to grab DEC aggressively but no bites, no way in hell I am selling any calls the rest of the year..

 

[ryank]

My DD is getting crushed this afternoon with the strong push higher. Another month, another large move upward just a little too fast. Only a few days to SET and I have another decision to make, hold on or get out with my profit now. Lots of theta still and lots of vega too if we get a quick dip. Decisions, decisions, decisions!

 

[dagnyt]

Quote from optioncoach:


no way in hell I am selling any calls the rest of the year..

Thanks Coach. I needed a sell signal (g).

Mark