Vertical Spreads for Aggressive Growth

rallymode · Jul 28, 2006

Quote from Cache Landing:

A close this strong probs means more buying monday morning.

..or a nice head fake, like the one we had last friday but upside down this time

Cache Landing · Jul 28, 2006

Quote from pattersb:

Would you count this as breaking 1280? Felt the waters, and recoiled?

I'm sweating a short position also ...

Not a break yet. So far the 1280 is holding. If monday closes above 1280 that is a break.

rallymode · Jul 28, 2006

Quote from momoneythansens:

And into the ears of the market....next stop 1300...mwahahahahaahaa

someone must have a 1299 touch barrier

Cache Landing · Jul 28, 2006

My main reasons for not opening the bear calls right now is the collapse in vols at the end of the day, and my expectation of a better fill on monday. I might even try to leg in if there is some buying interest monday morning.

chiguy · Jul 28, 2006

Quote from Crucis:

I have a AUG 1300/1320C. Initially it was a 1300/1310 but I was able to adjust the long side for another $1 credit earlier this week. Total for the spread now is $1.85.

Sweating the short side a bit.

what you consider the equivalent spread price in spy for the aug 130/132 call spread...

i am trading spy small till i get a feel for it...

Cache Landing · Jul 28, 2006

Quote from chiguy:

what you consider the equivalent spread price in spy for the aug 130/132 call spread...

i am trading spy small till i get a feel for it...

Right now the fill for SPY is actually much better than SPX. You'll get 0.50 for the 130/132 as compared to the equivalent of 0.40-0.45 with SPX. The difference makes up for the 10X commiss. The question is about tax. Does the difference cover commiss. and tax?

momoneythansens · Jul 28, 2006

Quote from rallymode:

someone must have a 1299 touch barrier

LOL. No, not me. But long a bunch of futures.

chiguy · Jul 28, 2006

thanks...

Cache Landing · Jul 28, 2006

Quote from momoneythansens:

LOL. No, not me. But long a bunch of futures.

Wow, must be more bullish than me. I'm not bullish enough to jump on this roller coaster. Good luck with your touch barrier... errr..... I mean "long futures".

momoneythansens · Jul 28, 2006

Quote from Cache Landing:

Right now the fill for SPY is actually much better than SPX. You'll get 0.50 for the 130/132 as compared to the equivalent of 0.40-0.45 with SPX. The difference makes up for the 10X commiss. The question is about tax. Does the difference cover commiss. and tax?

IMO, no if you are looking at round-trip:
http://www.elitetrader.com/vb/showthread.php?s=&postid=939138#post939138

Summary of differences for other people's reference:
http://www.elitetrader.com/vb/showthread.php?s=&postid=1072252#post1072252

And Cache, I saw your post. Not sure why you deleted LOL. I have a no touch at 1290 but the position is minor and semi-auto-hedged. I wouldn't buy a touch - they are too expensive IMO. That's why I sell them instead

[EDIT: Went flat on futures, was making a play for the break-through 1280 Cash. Alas, wasn't sustained.]

MoMoney.