SPX Credit Spread Trader

Sorry,

Got my Cash(che)s confused again. No wonder I can't seem to hang on to money.


Quote from Cache Landing:

I think you are referring to CashCache. But I do have a bear call that is starting to get close. What's everyone driving up the price for. :mad: Can't we all just relax and have the market sit still for a couple weeks. I don't want to have to adjust.:p
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Quote from rdemyan:

Sorry,

Got my Cash(che)s confused again. No wonder I can't seem to hang on to money.
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So rdemyan, as soon as I made that last post, the market started moving down pretty good. I didn't know you were the one to talk to about ordering a market reversal. LOL:D
 
A nice head fake from the market this afternoon, bounced down off of 1295 again and back into the red. My March 1330/1340 bear call spread seems pretty safe for the time being. I would like to get a little more downward movement so I can free up some margin and get into April positions a little earlier. As always, just have to take what the market gives me.

ryan

Offtopic: I'm taking the family to Colorado again this summer, staying in Breckenridge or Winter Park for a week. Ski areas are nice and cheap in the summer :D Then we are off to Buena Vista for a week in some cabins and climbing a 14er (in-laws are picking up the tab for the cabins, can't beat that). We've been going to CO for years and have always heard that in many places you can ski in the morning and golf in the afternoon during the winter. You lucky %&^#@$%*.
 
Actually, I think it was Coach.

Seems like it happened right after I complained about his gift.

Looks like he found the receipt after all. :)


Quote from Cache Landing:

So rdemyan, as soon as I made that last post, the market started moving down pretty good. I didn't know you were the one to talk to about ordering a market reversal. LOL:D
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I sure do. It was a little dicey today, but I am still in it. The bulls just seem like they don't have the conviction to get it past 1295 and keep it there. Of course, I'm not complaining, but I do sometimes wish I would have rolled this out a long time ago. I can't go anywhere without my eyes glued to my PDA - it's obnoxious.

I am still learning and testing things out. If I were to do this month all over again, I would probably have rolled my 1310/1320 when within 20 points. The cost associated with the rollout is probably nothing compared to my sanity.

Although rdemyan, it's nice to know I'm not the only one watching this position ;-)

-Cash


Quote from rdemyan:

Cache:

Do you still have your 1310 short?
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Yeah, it was in my wallet next to my small JA pic. I took the gift back and asked for something in a minor reversal which they had plenty of. Glad you liked it.
 
Cash:

I know exactly what you mean. It's happened to me before and after it's over you realize it was worth paying to get out. Not only the sanity but the emotional distress. That's why I recently I've opted to get out or roll. But I'm noticing that this month I'm hanging on longer than I have the last couple of months. I may need to readjust my thinking again.

Quote from CashCache:

I sure do. It was a little dicey today, but I am still in it. The bulls just seem like they don't have the conviction to get it past 1295 and keep it there. Of course, I'm not complaining, but I do sometimes wish I would have rolled this out a long time ago. I can't go anywhere without my eyes glued to my PDA - it's obnoxious.

I am still learning and testing things out. If I were to do this month all over again, I would probably have rolled my 1310/1320 when within 20 points. The cost associated with the rollout is probably nothing compared to my sanity.

Although rdemyan, it's nice to know I'm not the only one watching this position ;-)

-Cash
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rdemyan,

This is a tough call. I don't want to blindly jump when I don't need to, but I also don't want to let it get so close that the expense to get out outweighs the profit on a front-month roll. In addition to all of the above, I want to be able to sleep at night.

I think what this boils down to for me is one of two things:

1. Get out early. Pay the debit and roll into more contracts to turn the debit into a credit. Sleep and be happy.

2. Start using some of Coach's (and others in this thread) hedging strategies. Sleep and take some of the sting out of the roll.

-Cash

Quote from rdemyan:

Cash:

I know exactly what you mean. It's happened to me before and after it's over you realize it was worth paying to get out. Not only the sanity but the emotional distress. That's why I recently I've opted to get out or roll. But I'm noticing that this month I'm hanging on longer than I have the last couple of months. I may need to readjust my thinking again.
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Hi all,

First I would like to give thanks to coach and the rest of you whom have contributed to this wonder forum for education and sharing of ideas. I have read almost 80% of the thread since it started and I must say I have learn alot.

Coach, while I understand most are using SPX, what would be the alternative hedging tool/s for doing an OEX IC? I understand you are hedging with XSP or SPY, can I do that with oex?

I will also be migrating my IC to SPX soon starting April and I am sure I will find support here in this wonder forum.
 
Sorry guys and gals,

I get to claim this one. I have the 1325/1330 calls and the 1250/1245 puts (MAR). I had been hanging in pretty well with the calls for the last 2 weeks, but I will be out of town some next week.

I picked up the partial hedge around 1295 thinking this MIGHT be THE breakout.

All of you out there with bear call spreads.

You're welcome!

:D
 
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