Vertical Spreads for Aggressive Growth

Quote from ryank:

OIH = OUCH :(
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We'll see what happens at 10:30 tomorrow morning. I might look at opening another bull put spread in either VLO or OIH. For the time being though, I'm glad I took profits on VLO.:p
 
WOW. Could I have been more wrong about NEM and BAC? :confused:

Actually, if I had intended the two to hedge each other, then I would have taken the same direction on each.

Currently looking for a graceful exit.
 
Quote from Cache Landing:

Wonder if it will present itself once VIX reaches back up into the 16 range.
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yes but the reverse, long the back months, short the front would be the way to go.
 
Well, the flow of money out of oil/gold and into financials is amazing right now. Looks as though I might not get a good exit, but I'm willing to be patient for a bit longer.

It seems that I should also be a bit less skeptical about put credit spreads right now. When a market is using any excuse it can find to rally, it is best to stay out of the way. The situation still doesn't add up, but it might be a combination of a few different factors. In the end, I don't see us dropping as quickly as I had previously thought.
 
Quote from Cache Landing:

Well, the flow of money out of oil/gold and into financials is amazing right now. Looks as though I might not get a good exit, but I'm willing to be patient for a bit longer.

It seems that I should also be a bit less skeptical about put credit spreads right now. When a market is using any excuse it can find to rally, it is best to stay out of the way. The situation still doesn't add up, but it might be a combination of a few different factors. In the end, I don't see us dropping as quickly as I had previously thought.
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Good to go until the elections would be my guess...
 
Quote from rallymode:

yes, loaded up at the open. 1350/1355 on the ES options average is now $1.95. That would translate to about 1343/1348 on the SPX at OCT expiry.
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Well, when you are wrong you are wrong. That was clearly a bad call. This position is now officially in adjustment mode. Market went through the long leg, sitting on a $1.3 loss per spread.
 
Quote from rallymode:

Well, when you are wrong you are wrong. That was clearly a bad call. This position is now officially in adjustment mode. Market went through the long leg, sitting on a $1.3 loss per spread.
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Adjustment or just get out of the way of this train?
 
Quote from rallymode:

Well, when you are wrong you are wrong. That was clearly a bad call. This position is now officially in adjustment mode. Market went through the long leg, sitting on a $1.3 loss per spread.
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Counter trend position on an underlying that just keeps trending. All dips are being bought. What can you do? Win some. Lose some.
 
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