SPX Credit Spread Trader

[RichardRimes]

LOVE Traders Joe's..but we don't have one out here..last time in Palm Desert brought back 8 cases of 2 buck chuck! At costco I've learned to buy and freeze the meat's and buy only dry goods that can be stored...the fresh stuff usually gets tossed because you are right about the temptation to buy toooooo much

Quote from andysmith:

Donna, careful buying things at Costco! At least one study has shown that buying in bulk leads to overconsumption. Costco is such an American phenomenon just like SUVs... big, big, BIG. In Europe and Asia, people buy groceries each day while *walking* home. They don't have huge houses with giant refrigerators,... and 70% of the population is not overweight like here. OK, back to credit spread.

PS. Costco does have good vacation deals though. I like Trader Joes better anyway. And we shop at Costco too.

 

[andysmith]

2 Buck Chuck is great! I'm convinced the two main groups buying it are smart people and winos!

Quote from DonnaV:

LOVE Traders Joe's..but we don't have one out here..last time in Palm Desert brought back 8 cases of 2 buck chuck! At costco I've learned to buy and freeze the meat's and buy only dry goods that can be stored...the fresh stuff usually gets tossed because you are right about the temptation to buy toooooo much

 

[ryank]

Quote from andysmith:

I guess that doctor in Utah would have 3x the difficulty posting on this board on Sat night...

Ok, I've been scratching my head trying to figure this comment out, what does this mean?

ryan

 

[RichardRimes]

3 wives:eek:

Quote from ryank:

Ok, I've been scratching my head trying to figure this comment out, what does this mean?

ryan

 

[Synaptic]

All,

Just wondering where you have you Fib lines drawn at this time... I have the highs from 9/9 and the recent lows from 10/13. Sound about right ? Thx.

 

[Drofman]

Coach,
As of Monday morning, how do you feel about chances of the pullback you were expecting. I did a 1230/1235 Put Spread but unfortunately am also setting on 1235/1245 Bear Call Spread---I wasn't watching and did not make adjustment or hedge. Any suggestions, short of jumping out the window of tall building
Jack

Quote from optioncoach:

Studying the technicals I see the SPX at an overextended point so with it closing at 1230 or so I bought 5 NOV 1230/1225 Put Spreads at $1.80 for a quick profit on the pullback Monday or Tuesday. I know this is a debit spread but thought I would share this position.

 

[ebbarlow]

Dec OEX 585/595 Bear Call Spread with 100 contracts. How would anyone hedge this position if market keeps climbing? Does anyone follow MACD in this forum?

 

[ryank]

Quote from DonnaV:

3 wives:eek:

I get it now lol!

ryan

 

[El OchoCinco]

I still feel the pullback is developing but we do have some economic news on Tuesday (PPI) and Wal-mart announcing which could throw a wrench in the works. I only made a small bet with my 1230/1225 debit spread but still see significant overhead resistance as of right now. The S&P and the ES and ER2 all bounced off of overhead resistance lines and are slightly down. Looking for a bigger move lower to perhaps 1225-ish on the S&P as long as no new good news shoots it higher.

I believe it to be more likely than not and threfore did a debit spread but I would not bank a large credit spread position on it.
As for a 1235/1245 bear call spread I think you are well within the adjust or get out zone with the S&P at 1232.

Quote from Drofman:

Coach,
As of Monday morning, how do you feel about chances of the pullback you were expecting. I did a 1230/1235 Put Spread but unfortunately am also setting on 1235/1245 Bear Call Spread---I wasn't watching and did not make adjustment or hedge. Any suggestions, short of jumping out the window of tall building
Jack

Quote from optioncoach:

Studying the technicals I see the SPX at an overextended point so with it closing at 1230 or so I bought 5 NOV 1230/1225 Put Spreads at $1.80 for a quick profit on the pullback Monday or Tuesday. I know this is a debit spread but thought I would share this position.

 

[El OchoCinco]

Drawing Fib lines are of course subjective but I drew the tratecement lines from the early AUgust highs to the mid-October lows. That puts the current market at the 66% retracement.

Quote from Synaptic:

All,

Just wondering where you have you Fib lines drawn at this time... I have the highs from 9/9 and the recent lows from 10/13. Sound about right ? Thx.