SPX Credit Spread Trader

Gator,
As I mentioned earlier, the RO advisories were for educational purposes only... so I don't know whether they were profitable or not. Overall, I found that I'm better off doing my own trades....



Quote from gatorplease:

Andy,

PLEASE share what you have experienced. I agree with your analysis, that you have to pick and choose. But that's not what they advertise. They're urging you to autotrade, there's no picking and choosing. They are charging for trading advice. They don't say, hey,, only put this trade on if you feel.........

I think the autotrade thing is very dangerous. And with this mixed basket thing RO is specifically encouraging autotrading. They are saying they will choose the strategy to play and you can follow it, trade it and learn.

I've chosen to subscribe and NOT autotrade. After discussion and my own personal experiences, I am willing to pay the cost for an educational experience (Initially, anyways). But I'm not willing to trust them to automatically place these trades. basically I'm paying for an education.

Can you tell us a little from what you've learned on the other strategies? Were they profitable?:confused:
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Coach,

Do you have a specific timeframe for selling your FEB PUTS ? Would you say sometime this week but no later ?

Quote from optioncoach:

THis morning up move was a pullback to the former support/now resistance which evaporated pretty fast. The berish breakout on the SPX is still confirmed and next support level is 1235/1240 for now (1st Fib retracement).

As for JAN, my 1165/1175 strikes are still quite safe. Now looking at FEB and will look for 1160 strikes since with bearish bias in the short-term I want to be as far OTM as possible. Will llet you know if I close my JAN position on the uptick today.

Phil
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Well I would not cut myself off on a specific date as to when I would no longer sell since market conditions always change, but my SWEET SPOT of when to sell is 30 - 45 days until expiration.


Quote from Synaptic:

Coach,

Do you have a specific timeframe for selling your FEB PUTS ? Would you say sometime this week but no later ?
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gator, sorry but I cannot find any confirmation on the RedOption site to your statement of a 2.4% management fee for any advisory service, including the mini basket, when autotrading. Are you sure that statement is true?

Best wishes for the New Year,
jack




Quote from gatorplease:

Has anyone taken a look at redoption's upcoming mini basket strategy????

They are charging $20/mo for the advisory (240/yr) I asked the following question:

""However, I am uncomfortable with buying blindly. On a $10000 account, you are charging 2.4% management fee up front, plus commissions. My guess is you are going to run up another 2.5% in commissions, at TOS rates. If you were a mutual fund, that would be quite a high front end load! What kind of return are you anticipating?"

If you are paying 5% up front, they've got to generate one heck of an income stream to make it worth while.

Anyone have any thoughts??

PS HAPPY NEW YEAR
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The $20 per month for the advisory equates to $240 per year which on a $10,000 account (the maximum allowed) is 2.4% - Gatorplease was viewing this as a management fee.

All a little OT! Perhaps a new thread for discussing Red Option?

MoMoney.

Quote from jplatsky:

gator, sorry but I cannot find any confirmation on the RedOption site to your statement of a 2.4% management fee for any advisory service, including the mini basket, when autotrading. Are you sure that statement is true?

Best wishes for the New Year,
jack
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Murray...I posted this on the strategy trading forum...it might get more responses...I'm interested in it would like to get feedback..
Quote from Sailing:

Any VectorVest users in this group.

Been trying to play with some VectorVest strategies and scan for credit spread opportunities.

Murray
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Quote from jplatsky:

gator, sorry but I cannot find any confirmation on the RedOption site to your statement of a 2.4% management fee for any advisory service, including the mini basket, when autotrading. Are you sure that statement is true?

Best wishes for the New Year,
jack
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Momoney's response and math was correct.

I don't feel this discussion is off topic at all, since in fact the advisories we're discussing are spread advisories.

I did receive an email from Scott Snyder at RO with their results for the year. I was surprised by some of the results. The Index Diagonal had a negative year, but I have had positive results with it. The Double Diagonal was very positive. Unfortunately, their biggest loss was at the end of the year -right when I started trading with them.
 
Since our Santa stayed at home this year, is anyone scalping some extra premium by selling Jan Call Spreads to form a IC with our puts?

I was look at the 1295/1305 for about .30 or the 1290/1300 for about .45.

Just want to get some other thoughts.....

sd
 
I like the JAN Calls above our mid December peak. I'll currently planning on closing my 1320/1330 JANS and moving down to the 1290/1300
SK .... you weren't planning on doing any trades this year right ? Something you were promising the wife ? :cool:


Quote from skdoyle1:

Since our Santa stayed at home this year, is anyone scalping some extra premium by selling Jan Call Spreads to form a IC with our puts?

I was look at the 1295/1305 for about .30 or the 1290/1300 for about .45.

Just want to get some other thoughts.....

sd
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