SPX Credit Spread Trader

Hey Coach:

Now that you're going big time and since I know you like to put your money at risk to educate us here on the thread.....

I was thinking, would you be willing to put on a position that will get you or is already in trouble so that you can "back test" the prego fly. Of course, I don't expect you to put up 100 contracts or anything near that. 20 should do fine. :)

But maybe a contract or two just so we can follow along (BTW: I'm always this free with other people's money so don't think that you're special. LOL).

Thanks.
 
Hey all.. I am in a fancy restaurant just off Times Square in NYC checking in on wireless! (ok ok it is Applebee's but my napkins look fancy!) Just some general comments.

We have had some nice surges in price which keep confirming the uptrend so be careful with bear call spreads for FEB since we have just a few weeks left. Do not chase premium and get to close to the sun ;). I think 1320 should still be fine since I seriously doubt we got the juice to break 1300 as of right now. I am sure this surge might fizzle out near 1295 again but who knows lol.....

As for the Prego Fly, I would only hope to do that in a severe situation so no testing with my cash lol.

I still have the 1190/1205 FEB Put Spread and I am just gonna let it run to expiration. Next week I will be considering MARCH positions and so far, I am still leaning to the puts.
 
Guys
Here are my positions.
Bear Call on RUT 750/760
Bear Call on SPX 1320/1330

Donna
Please stop scaring me. remember this is my first time and i need support?.

Coach
i am not concerned about SPX but this RUT is looking dangerous.
what do you think?.
 
I was looking today at RUT and ER2. It both looked the same. Multiplier is the same as well $100.

I tried to sell one contract at 640 but before going ahead I looked the margin requirement and it was a massive figure of £7200

I tried to do the same contract (640) for ER2 and checked the margin. I cant believe this. The margin requirement was only £350. Both were for Feb expiry.

Can this be explained? Why one would trade RUT. ? I must be missing something.
 
does anybody know of any firm that will let you:
sell a credit spread with certain credit, contingent upon buying a debit spread with certain limit?
Thanks:

Labib imtanes
 
Quote from labib52:

does anybody know of any firm that will let you:
sell a credit spread with certain credit, contingent upon buying a debit spread with certain limit?
Thanks:

Labib imtanes
More...

You can do a OTO (One Triggers Other) at ToS, but with the limits you aren't guaranteed to get filled on the second order. I think that OX and IB both offer this kind of trade too.
 
Quote from rdemyan:

Got filled today on the following:

FEB SPX 1325/1340 bear call at $0.50

The order sat for quite awhile with a mid of $0.50 to $0.55. I was doing other things and then heard the ToS "ding" that I got filled at $0.50 when the SPX was up about 10 points.

However, shortly thereafter the mid jumped to $0.70 with the SPX only up by around 11 points.

Seems like there was a sudden increase in volatility on the 1325, which I didn't get to take advantage of. :mad:
More...

I just glanced at this forum today and found that we got the same spread. I sold mine for $0.55 though. I put on the order and walked out for lunch. Here is mine:

SOLD -1 VERTICAL SPX 100 FEB 06 1325/1340 CALL @.55, SPX MARK 1283.72

It was executed at 3:12 PM. (CST)
 
By the way, that was my first post on this thread, even though I've been reading it for months.

I've learned a ton.

Thanks, and good trading to all.
 
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