THIS will SELL you on OEX weekly options...it has me...WOW!

What I'm curious about is why you didn't start to sell them sooner or at least sell some further out strike to make a vertical spread that would mostly lock in your gains. I missed out on profiting from Friday afternoon's slide because I had closed out half my puts (which I'd bought on Tuesday) on Thursday afternoon and turned the rest into vertical spreads on Friday morning. Not saying my conservative approach was better, but I'm curious why people sit on big bearish gains in a market where corrections have typically lasted just a few hours.
 
I've traded OEX options before. Large spread, options don't always move in the direction of the market move. I would pick the right direction of the market and the options would move little if any in that direction couple that with the spread and it was tough. Good luck Though.
 
Quote from loufah:

What I'm curious about is why you didn't start to sell them sooner or at least sell some further out strike to make a vertical spread that would mostly lock in your gains. I missed out on profiting from Friday afternoon's slide because I had closed out half my puts (which I'd bought on Tuesday) on Thursday afternoon and turned the rest into vertical spreads on Friday morning. Not saying my conservative approach was better, but I'm curious why people sit on big bearish gains in a market where corrections have typically lasted just a few hours.
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you know...I think you hit on something...spreads for these weeklys....hmmm...will look into it
 
It's nice to see a trader who is actually excited about trading and creating new idea's. All professional traders have one thing in common. Persistence. Great post. Go Favre!
 
Quote from increasenow:



will obviously hold into tomorrow Friday and see what happens on expiration friday for these weekly's...wow!
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Why is that 'obvious.'

In fact, it's rather stupid.

Mark
 
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