SPX Credit Spread Trader

Quote from dagnyt:

I'll gladly take the other side of your spread.

Did you sell FEB (not dec) 800 call?

Mark
More...

Yes. :D

Why will you want to take the other side?

This diagonal is almost delta neural, almost gamma neural with a large vega. I am betting on vega.
 
Quote from yip1997:

Yes. :D

Why will you want to take the other side?

This diagonal is almost delta neural, almost gamma neural with a large vega. I am betting on vega.
More...

I would take the other side just to buy the Dec 800 call @ 6.60!!!

Mark
 
Quote from dagnyt:

I would take the other side just to buy the Dec 800 call @ 6.60!!!

Mark
More...

I know I sell cheap call here, but I also buy more Jun 900 call to take advantage of low IV environment.

What spread will you do?
 
Quote from yip1997:

I know I sell cheap call here, but I also buy more Jun 900 call to take advantage of low IV environment.

What spread will you do?
More...

I think you missed the point. If the Dec 800 call is trading over $60, and you want to sell at $6.60, then I want to buy those Dec calls. Period.

The spread I would do is not relevant, but I prefer not to buy June calls - April is my choice. I buy Apr and sell March. Strike selection depends on whether you prefer CTM or further OTM. I prefer further.

Mark
 
Quote from dagnyt:

I think you missed the point. If the Dec 800 call is trading over $60, and you want to sell at $6.60, then I want to buy those Dec calls. Period.

The spread I would do is not relevant, but I prefer not to buy June calls - April is my choice. I buy Apr and sell March. Strike selection depends on whether you prefer CTM or further OTM. I prefer further.

Mark
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Sorry, Mark. I meant Feb 800 call, not Dec 800 call. Now I understand what you meant by $60. LOL.

Does it make sense now?
 
MAVERICK Update

I just would like to set the record straight.....

I know some of you may feel Maverick (alias John Knott), from VtraderPro, comes across a little insensitive at times.... but you must understand... he has your best interest in mind.... and he's under some intense time parameters.

John is highly respected amongst his peers... within the industry... throughout cyberspace forums, and throughout the educational arena in Chicago. He facilitates a large group of option traders monthly at the public museum... and openly invites all visitors.

He wouldn't tout himself... so I thought I would...

I've only known Maverick now for a little over a year... and there isn't anyone I'd rather have on my TEAM.... no disrespect to you coach... I'd have you in the on-deck circle.

John has been there day and night... weekends... Sundays.... even came up to our town and presented an all day seminar.... and he has answered every phone call I've placed to the office before the third ring. His service to us... and to the rest of our Club is second to none. In fact, it's invaluable!

If you want straight answers... the truth... the hard real facts... someone you can count on... someone who is passionate, stubborn, yet intelligent... and you're not afraid to accept some criticism... consider giving Mav a call. He has no social life.... this is his life.

Thanks Mav for everything you've done for us. Looking ahead to a prosperous adventure with you and Vtrader.

Murray & The Grand Rapids Investment Club
 
Dittos, Murray.

I've not had any direct contact with Mav, but I have learned a lot since I joined this thread last June.

I've learned al lot from you, Coach, Mark, and many others. Thank you, all.

Cru

Quote from Sailing:

MAVERICK Update

I just would like to set the record straight.....

I know some of you may feel Maverick (alias John Knott), from VtraderPro, comes across a little insensitive at times.... but you must understand... he has your best interest in mind.... and he's under some intense time parameters.

John is highly respected amongst his peers... within the industry... throughout cyberspace forums, and
throughout the educational arena in Chicago. He facilitates a large group of option traders monthly at the public museum... and openly invites all visitors.

He wouldn't tout himself... so I thought I would...

I've only known Maverick now for a little over a year... and there isn't anyone I'd rather have on my TEAM.... no disrespect to you coach... I'd have you in the on-deck circle.

John has been there day and night... weekends... Sundays.... even came up to our town and presented an all day seminar.... and he has answered every phone call I've placed to the office before the third ring. His service to us... and to the rest of our Club is second to none. In fact, it's invaluable!

If you want straight answers... the truth... the hard real facts... someone you can count on... someone who is passionate, stubborn, yet intelligent... and you're not afraid to accept some criticism... consider giving Mav a call. He has no social life.... this is his life.

Thanks Mav for everything you've done for us. Looking ahead to a prosperous adventure with you and Vtrader.

Murray & The Grand Rapids Investment Club
More...
 
Can anyone share some info on how you report all of your trades to the taxman. 2006 was my first year. I use IB and am hoping that there is a streamlined method to reporting trades besides line by line.

thanks in advance
kapil
 
Quote from kapil:

Can anyone share some info on how you report all of your trades to the taxman. 2006 was my first year. I use IB and am hoping that there is a streamlined method to reporting trades besides line by line.

thanks in advance
kapil
More...

Kapil,

If you are an active trader, you might want to consider to apply the trader status and use Mark-To-Market method for tax purpose.
 
piccon,

what is your experience with CTM spread for rut? Can you trade at the mid?

I was trying to sell 770/780 put for a credit of 2.6. Even the mid becomes 2.7, my order is still not executed.

The bid ask spread for CTM options seems a lot wider than FTM.
 
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