Yes Chris did quite a good job and I recommend it.
phil
phil
SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
Phil, enjoy your thread. Could you please tell me why you initiate there positions using the SPX and not the e mini. I looked at the spread during the day and it did not seem to be too wide. Wouldnt you get better margin there due to SPAN? Thanks
One other thing, have you thought of doing it in the 10year notes? As liquid and the options spreads are tighter.
One other thing, have you thought of doing it in the 10year notes? As liquid and the options spreads are tighter.
Well, I'm not Phil, but for me I don't want any more margin than the SPX provides. I'm not planning on ever using more than half my account for these as it is. That is the max risk I am comfortable with. The advantages of more margin are, for the most part, only needed if you want to raise your risk, right? That may change for me in the future.
Now if the spreads/fills/etc. were much better on the ES, that would make me consider using it (while still maintaining the same dollar amount I am risking with the SPX, of course). I would be interested in some side by side comparisons if anyone has them, and comparisons of fills as well. I don't have an account anywhere that has access to ES options.
I'm pretty sure Phil has answered this question for himself previously in this thread a couple of times.
Thanks to all for your input.. I'll watch the video and return..A most informative forum,,,Doc
As for the E-mini, I actually day-trade the futures scalping a point or two each day. As for the options on futures I would really love to try them but I am using OptionsXpress and ThinkorSwim as brokers and they do not have futures options. InteractiveBrokers does but I have too many problems with their platforsm and reliability to risk my money so for now I am watching quotes and following them to get a good feel for them. My initial idea was to use them for hedging over the SPY. But using the E-mini options certainly is viable with this strategy as well as the options for the other E-mini contracts. I just like my brokers too much to switch but I keep asking if OX andToS will add options on futures and it is still a possibility.
Phil
Phil
I postred the reply to you regarding the E-mini to the wrong person so look above for that answer.
As for doing this in the 10-year notes I will be the first to admit that I do not follow the bond markets and would not like to trade what I do not know. If you are familiar with the market and the options have good spreads and premiums then this strategy can certainly be applied there or to any other underlying with similar characterisitcs.
Phil
As for doing this in the 10-year notes I will be the first to admit that I do not follow the bond markets and would not like to trade what I do not know. If you are familiar with the market and the options have good spreads and premiums then this strategy can certainly be applied there or to any other underlying with similar characterisitcs.
Phil
I have recently started using a few of these ideas and just stumbled across this thread .. one of the more useful ones here.....
Just out of curiosity what issues do you see with IB's platforms for these issues ?
I had an account with IB up until recently and I always had problems logging in. I would re-boot and reload to clear out any errors but many times I just could not trade. I have IB on two different computers and it only takes a few times to make me nervous about trusting my money there. I also read many comments here at ET from people who had problems with logging in or getting into the platform.
Moreover, the set-up is more of a pain to trade. In OX or ToS I can immediately see the entire chain and scan for prmeium and spreads. WIth IB I have to open the entire listing and select which strikes I want and it never fits the entire chain in the window. I can also switch between chains pretty quickly. Even better in ToS I can call up all vertical spreads at once instead of picking the specific spreads I think I might want to see in IB.
So bottom line, I do not trust IB for its connections or on my computer and I find ToS and OX so much easier to navigate and use. With OX and ToS I pay $1.25 a contract v. $1.00 at IB so for the extra $0.25 savings I found IB was not worth it, even for the options on futures.
Now many people have had great experiences with IB and I still recommend them to people as one of the lowest brokers out there for them to look into, but they have done more than enough to shake my confidence and that is all it takes for me to stay away. I almost went back but when ToS added E-minis futures I decided to put some money there for my futures day trading.
Phil
Moreover, the set-up is more of a pain to trade. In OX or ToS I can immediately see the entire chain and scan for prmeium and spreads. WIth IB I have to open the entire listing and select which strikes I want and it never fits the entire chain in the window. I can also switch between chains pretty quickly. Even better in ToS I can call up all vertical spreads at once instead of picking the specific spreads I think I might want to see in IB.
So bottom line, I do not trust IB for its connections or on my computer and I find ToS and OX so much easier to navigate and use. With OX and ToS I pay $1.25 a contract v. $1.00 at IB so for the extra $0.25 savings I found IB was not worth it, even for the options on futures.
Now many people have had great experiences with IB and I still recommend them to people as one of the lowest brokers out there for them to look into, but they have done more than enough to shake my confidence and that is all it takes for me to stay away. I almost went back but when ToS added E-minis futures I decided to put some money there for my futures day trading.
Phil
I was able to close my 1280/1290 call spread for a good profit yesterday (.80). Now I'm looking at the 1255/1265 or 1260/1270. We should still have good resistance at 1245 so I definately want to be above 1250. If I can grab .50 for the 1260/1270 I may just have to do it.
Are you planning to dip your toes in the call spread water Coach?
ryan
Are you planning to dip your toes in the call spread water Coach?
ryan
If we had some rallies string together I wwas willing to grab some calls but the market keeps dropping after any rally. The call premiums at the strikes I was intrested in are almost non-existent. To get any decent credit I would have to go to 1265 in the SPX and I have been a little hesitant. If we can get any type of rally this week I may grab them or higher strikes since the headwinds in the market are so strong.
I am seeing more and more a tendency to be sideways the next few weeks so I may consider those calls. For now, sitting on my putz...... lol.
Phil
I am seeing more and more a tendency to be sideways the next few weeks so I may consider those calls. For now, sitting on my putz...... lol.
Phil