SPX Credit Spread Trader
- Thread starter El OchoCinco
- Start date
You have to pass the series 7 and no, once you join the firm, you cannot act like a market maker. You buy at the bid or sell the ask like everyone else, with a limit order 
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.Thanks for sharing the selection criteria. Do you use any backtesting software to test these strategies with previous data,you know,just to get confidence?.
Market makers kiss my ass.......
I got filled on 15/125 of 1350/1365 Call Spreads @ $0.35 ( i was real agressive with my limit order).
So that gives me a limpy bitch Iron Condor with 125 1190/1205 put spreads and.........hold on to your hats....... 15 1350/1365 Call spreads LOL.
I better get filled on the rest
I got filled on 15/125 of 1350/1365 Call Spreads @ $0.35 ( i was real agressive with my limit order).
So that gives me a limpy bitch Iron Condor with 125 1190/1205 put spreads and.........hold on to your hats....... 15 1350/1365 Call spreads LOL.
I better get filled on the rest
Well the main way I get confidence is to have my wife stand behind me while I am trading and every so often slap me on the back and scream "YOU DA MAN!" or "WORK THOSE SPX SPREADS... WHOSE MARKET IS IT?!" And every once in a while I wink over at my hidden picture of Jessica Alba...
[sorry could not resist]
Actually for a strategy like this there is really no need for backtesting software other than a good charting program and historical data. Simply studying the charts and looking at the monthly change in prices between expirations and the ranges gives you a good understanding of how much the market can move on a % term and what a really bad move would look like. THis gives you a better feel for month to month fluctuations and how big and small they can be. AN option pricing calculator can be used to stress test it with changes in the underlying index and even IV and time to expiration.
[sorry could not resist]
Actually for a strategy like this there is really no need for backtesting software other than a good charting program and historical data. Simply studying the charts and looking at the monthly change in prices between expirations and the ranges gives you a good understanding of how much the market can move on a % term and what a really bad move would look like. THis gives you a better feel for month to month fluctuations and how big and small they can be. AN option pricing calculator can be used to stress test it with changes in the underlying index and even IV and time to expiration.
hey you think on exp thur THEY care abt your oootm feb?
Quote from optioncoach:
Market makers kiss my ass.......
I got filled on 15/125 of 1350/1365 Call Spreads @ $0.35 ( i was real agressive with my limit order).
So that gives me a limpy bitch Iron Condor with 125 1190/1205 put spreads and.........hold on to your hats....... 15 1350/1365 Call spreads LOL.
I better get filled on the rest
Coach,
I am protected by 20 points in both PUT and Call Spreads but I didn't want to leave my money and have bad dream tonight. I would like to let it expire worthless but I don't know about this SET story.
I am 1260 and 1305 shorts. I don't think SET could be that big but in the other hand I want to sleep well.
Anybody has a thought ?
I am protected by 20 points in both PUT and Call Spreads but I didn't want to leave my money and have bad dream tonight. I would like to let it expire worthless but I don't know about this SET story.
I am 1260 and 1305 shorts. I don't think SET could be that big but in the other hand I want to sleep well.
Anybody has a thought ?
Quote from optioncoach:
You have to pass the series 7 and no, once you join the firm, you cannot act like a market maker. You buy at the bid or sell the ask like everyone else, with a limit order
Hey anybody know about this aussie trader called David Novac. http://www.wealthwiseeducation.com/
IF the set is that big...we are in big trouble BIG time...I'm not at home but don't recall off hand the largest set change but I believe it was in the teens....If I had your strikes I would take a tylenol pm and sleep fine