thx I wasn't really sure if he had or hadn't and couldn't find it..now I understand. He can roll the troubled Sep call spread to Oct.
Vertical Spreads for Aggressive Growth
- Thread starter Cache Landing
- Start date
yeah. I didn't want to open the oct spread until we see what direction this market wants to go. with such low vols I just couldn't resist the long puts. I f anyone is thinking about oct bear calls I do think it is as good a time as you are going to get. If you are like me and already have the SEP bear call, then I would just stick with the sep and roll with an increase if necessary.
I was ahead of you. I opened a SPX OCT06 1355/1375C this week for a $2.62 credit as well as a SPY Oct06 134/136C for $0.77 credit.
I noticed that with ToS, I'm getting a few cents more that my limit. I priced 2.60 for the SPX spread, got 2.62 and sold the SPY for 0.75 and got 0.77. I'll always welcome a few pennies more on my credit spreads.
I've been happy with my fills lately too (TOS) it comes and it goes
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...Quote from RichardRimes:
I've been happy with my fills lately too (TOS) it comes and it goes
It definately comes and goes. I went forever without a price improvement from ToS. Seems like a few of my most recent fills have been a tick better than the mid.
Still looking for that elusive pullback in the XEO. My OIH position is pretty profitable at this point. May just hold this one until expiration as 135 seems to be holding for support.
Quote from RichardRimes:
I've been happy with my fills lately too (TOS) it comes and it goes
We're getting good fills because the MMs are expecting the market to continue to rally. They are more than happy to sell you a call credit spread when they think the market is going higher.
Quote from Cache Landing:
We're getting good fills because the MMs are expecting the market to continue to rally. They are more than happy to sell you a call credit spread when they think the market is going higher.
...which, based on Contradictory Opinion Theory means the time to sell is around the corner,
I finally decided to roll up and out of my ATM XEO spread. I increased the size and am short the Oct 620/625 calls for an overall net credit. So in reality, I closed my Sep position for a loss and opened a new one for Oct. Win some, lose some. I just don't want to lose 2 in a row on XEO . With my loss for Sep in place, let the market drop .
. With my loss for Sep in place, let the market drop .