Vertical Spreads for Aggressive Growth

[cnms2]

If you opened this AAPL iron condor now.
<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1076475>

 

[rallymode]

Quote from cnms2:

I guess we're talking about different positions. When you said you opened a condor for a credit, without mentioning legging into it, we assumed you're talking about an iron condor.

ehh i neither said credit, nor that it was an iron condor, it would've been nice if i had turned the vertical into a credit condor but i didnt want to take further directional risk

 

[Cache Landing]

Quote from Cache Landing:

Now I'm in a predicament. I'm expecting the 200SMA to hold. This tempts me to add to the position as it was small to begin with.

[note] I'm not a big fan of martingale strategies, but might consider this exception.

Well, I did add to the AAPL position at the close. :eek: I'm expecting the 200SMA to hold, but the market is quite week right now.

I'll also be seriously looking at some SPX bull puts too. I'm not sure how much further we can drop before another fed mtg.

 

[momoneythansens]

It was just a red herring so I'm safe for now. I will never reveal my real secret sauce! Mwahaahahaaa....

Quote from Cache Landing:

Well Mo, time to find a new strategy.

 

[Cache Landing]

Alright, who forgot to tell me that MRVL was going to rally today?

 

[Cache Landing]

Looking like the ER move didn't have enough momentum for HPQ. If it looks like they aren't goingto make it back up past 32 today then I'm looking for a good fill on a bear put vertical.

 

[Cache Landing]

Today's Action

BTO 3 AAPL JUN 70 c @ 0.65
BTO 4 HPQ 27.5/30 p @ 0.30

Year to Date P/L

Account Value: $12,898.00

YTD Gross P/L: 3,315.00

YTD Commiss: 417.00

YTD Net P/L: 2,898.00

YTD % P/L: 29.0%

As I mentioned in a previous post. The AAPL trade was made at the close yesterday. I decided to go ahead with the HPQ trade, because I think it is weak, and I'm way to bullish right now.

 

[cnms2]

Does it mean:
bto HPQ Jun 30 put
sto HPQ Jun 27.5 put
for .30 debit?

Quote from Cache Landing:
Looking like the ER move didn't have enough momentum for HPQ. If it looks like they aren't goingto make it back up past 32 today then I'm looking for a good fill on a bear put vertical.

Quote from Cache Landing:
...
BTO 4 HPQ 27.5/30 p @ 0.30
...

 

[cnms2]

It's 2:40 pm EST: does it look like the market turns negative? Several stocks I'm watching look so: HPQ, BRCM, BA, AAPL, even AMR ...

 

[Cache Landing]

Quote from cnms2:

Does it mean:
bto HPQ Jun 30 put
sto HPQ Jun 27.5 put
for .30 debit?

Yep. BTW, good call on the market turning negative.