SPX Credit Spread Trader

Quote from Synaptic:

Anyone making any moves on this drop ? :confused:
More...

I went 1225/1215 for 0.65. I see a whole lot of support before there. Took 3 days to get the fill. Had order in at 0.60. Had to call and push the order desk to get fill.

I seem to have had a LOT of orders "lost" on the floor lately. When I call to check on fills, they don't have the order on the floor.
 
Remember your order is a "limit" order, they will try to get that or better...I've been filled for better than limit several times...
Quote from rdemyan:

I got filled on the 1210/1195 for Feb. I was asking for $0.45 and got filled at $0.50 when I stepped away to make lunch.

It's really strange, the SPX was down over 9 points and I couldn't get filled at $0.45. Now it's down just over 8 and I get filled at $0.50.

Not complaining, but it sure would be nice if it were more consistent.
More...
 
Looking at the chart below we had a nice pullback to previous resistance, now short-term support. I bet my rogue call spread sellers were quite happy today ;). Watch this level for the next few days to see if the index moves back into the channel or support holds. Also, remember we are going into expiration week next week so that index will most likely find a home in this 1280/1295 range should the support hold. Do not be surprised to see the index pinned at 1295 or 1300 on upward moves or 1280 or 1285 if we hold here.
 

Attachments

You talking to ME :D :p
Quote from optioncoach:

Looking at the chart below we had a nice pullback to previous resistance, now short-term support. I bet my rogue call spread sellers were quite happy today ;).
More...
 
and ME....

living dangerously right now. With the 585/595 Feb XEO bear call.

I had bought calls end of Dec. expecting the market to go up.
When the market broke support, I converted to a bear call.
A few days later the market changed direction again and surged.

If I had kept the calls (not adjusted), I would have more than doubled.

Lesson learned: Trade based on what you see happening in the market NOT what you think will happen OR what others are saying will happen!!!!

Now I have to manage a risky position......................:(



Quote from optioncoach:

Looking at the chart below we had a nice pullback to previous resistance, now short-term support. I bet my rogue call spread sellers were quite happy today ;).
More...
 
Does anyone look at candlestick charts?

Is the XEO showing a bearish engulfing pattern?

Which means the start of a downtrend over the next few days......
 
Tough question..I would not change to a bull call at this point with a profit on the hedge...I would either take the profit and close the spread (1305/1315) or let both run...if you take off the hedge then watch very carefully and certainly close the spread early next week if possible..good luck!
Everyone

I own the SPX 1280 @ 12 since last december. I wanted to sell the 1285 for 12.50 or 13 to make it a bull call. Does it make sense. I still have it for hedging my 1305/1315 spreads

Cheers [/QUOTE]
 
I'm back out fishing for a fill today. Threw mine line in this morning, will have to wait and see if the MMs bite. I'm still trying to be short the 1205 or 1210 stike. I know some of you have been a little more brave than me so far. If I don't get filled today and the market doesn't break the near term support it is sitting on right now I might go higher, but not until next week.

ryan
 
Donna,

Sorry for the delay... exam week and stuff.... busy.

Took advantage of the pullback yesterday to close out the 1310/1300. Although I agree with Phil and your short-term overbought analysis.... I felt is was prudent to take a small profit and move forward. There just seems to be too much upside pressure and earnings next week to risk the reward.

Profit totaled 7.5%, but would have much rather enjoyed the full 14.5%. It's all about money management.

BTW, did I tell you how our Inverse Margin Call Calendar on GDT made out.... whew!!! Earnings season is just around the corner.... straddles are lurking!

Ski for Me Too!

Murray



P.S. Off Topic:

Does anyone have any experience with Wood Furnace Boilers?
 
Actually my mother had one but it is in Japan...very labor intensive..she had in floor radient heat which the wood furnace boiler heated as well as domestic hot water...worked ok
Quote from Sailing:

P.S. Off Topic:

Does anyone have any experience with Wood Furnace Boilers? [/B]
More...
 
You must log in or register to reply here.
Back
Top