SPX Credit Spread Trader

Decidee to put my money on the line once again for your education and look into the diagonals for possible profitable plays.


Bought NOV SPX 1185 Put @ $14.90

Sold NOV SPX WEEKLY 1185 Put @ $7.60

Cost: $7.30


Scenarios. If market hovers around 1185 or so for the next week then what ever miniscule time value premium there is (seems a lot actually) will fade and the net value of the spread will increase.

If index is above 1185 next week the weekly expires worthless and if the SPX 1185 is worth more than $7.30 I make a profit or can sell another 1185 weekly for more premium.

If index is below 1185 and not too far below then the spread could be worth more than $7.30 with no time value premium in the weekly and I could close for a profit.

THis should be interesting and you can follow my real trade for learning purposes and we can discuss. Only way I can really see it sometimes is with real money and $730 is worth the learning curve.

Phil
 
Just talked to OX. They don't have a chain page at this time that lists the calls and puts for the weekly options. You have to type each one in individually on the quote page. They are working on this but who knows when it will be fixed.

ryan
 
Quote from ryank:

Just talked to OX. They don't have a chain page at this time that lists the calls and puts for the weekly options. You have to type each one in individually on the quote page. They are working on this but who knows when it will be fixed.

ryan
More...

Looks like the same problem at IB. I emailed them as well. They don't show volume either...:(
 
NICE...I'll be following...saw them this am and it doesn't really show much interest...YET

Quote from optioncoach:

Decidee to put my money on the line once again for your education and look into the diagonals for possible profitable plays.


Bought NOV SPX 1185 Put @ $14.90

Sold NOV SPX WEEKLY 1185 Put @ $7.60

Cost: $7.30


Scenarios. If market hovers around 1185 or so for the next week then what ever miniscule time value premium there is (seems a lot actually) will fade and the net value of the spread will increase.

If index is above 1185 next week the weekly expires worthless and if the SPX 1185 is worth more than $7.30 I make a profit or can sell another 1185 weekly for more premium.

If index is below 1185 and not too far below then the spread could be worth more than $7.30 with no time value premium in the weekly and I could close for a profit.

THis should be interesting and you can follow my real trade for learning purposes and we can discuss. Only way I can really see it sometimes is with real money and $730 is worth the learning curve.

Phil
More...
 
TOS leading the way once again lol.... Had the quotes up today for SPX weeklies.

Phil

Quote from ssternlight:

Looks like the same problem at IB. I emailed them as well. They don't show volume either...:(
More...
 
Quote from optioncoach:

Decidee to put my money on the line once again for your education and look into the diagonals for possible profitable plays.


Bought NOV SPX 1185 Put @ $14.90

Sold NOV SPX WEEKLY 1185 Put @ $7.60

Cost: $7.30


Scenarios. If market hovers around 1185 or so for the next week then what ever miniscule time value premium there is (seems a lot actually) will fade and the net value of the spread will increase.

If index is above 1185 next week the weekly expires worthless and if the SPX 1185 is worth more than $7.30 I make a profit or can sell another 1185 weekly for more premium.

If index is below 1185 and not too far below then the spread could be worth more than $7.30 with no time value premium in the weekly and I could close for a profit.

THis should be interesting and you can follow my real trade for learning purposes and we can discuss. Only way I can really see it sometimes is with real money and $730 is worth the learning curve.

Phil
More...

Am I not reading this right or is the monthly decaying faster than the weekly?
 
I think they are about the same. I got filled near the mid-points of both b/a spread and current mid-points for weekly is $6.70 and for NOV SPX is $12.40. % wide may be about the same I think.

Phil

Quote from ssternlight:

Am I not reading this right or is the monthly decaying faster than the weekly?
More...
 
FYI - Here are the most recent symbols according to OX. They don't have the chains set up yet.

Coach - Thanks once again for the insight.

Calls
JXAKM 1165
JXAKO 1175
JXAKQ 1185 strike
JXAKS 1195 strike
JXAKA 1205 strike
Puts
JXAWM 1165 strike
JXAWO 1175 strike
JXAWQ 1185 strike
JXAWS 1195 strike
JXAWA 1205 strike
 
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