Vertical Spreads for Aggressive Growth
- Thread starter Cache Landing
- Start date
Quote from ChrisM:
My strategy is neutral. As I converted calls few days ago, you may consider this as being bullish
But seriously - I cashed out my postions and now awaiting opportunity to sell upside. I can`t do this now, as calls IV is low. By my contrarian experience it`s often a bullish sign.
Yeah, I can't find anything that is going to give me a good entry for a decent credit on the bullish side.
How about waiting a little while ? I`m in the market for most of the time, and this time now is very exceptional having all my positions closed before the end fo the month. That is why I talk that much today
There is no crystall ball, however many bullish scenarios go like this: cheap calls - market moves higher, then public finally believes that this move might be the one - and IV goes up. If you sell then you may not target the top, but you have a nice chance to position yourself right before downside correction.
Thinking about getting in on a PAAS bull put. I don't know. Maybe I'm just getting antsy. It does present a decent APR position though.
Quote from ChrisM:
How about waiting a little while ? I`m in the market for most of the time, and this time now is very exceptional having all my positions closed before the end fo the month. That is why I talk that much today
There is no crystall ball, however many bullish scenarios go like this: cheap calls - market moves higher, then public finally believes that this move might be the one - and IV goes up. If you sell then you may not target the top, but you have a nice chance to position yourself right before downside correction.
Hi Chris...makes me feel better that you are in cash...I've been feeling very Skitzo (sp!) abt the mkt. On one had feeling that spx at least will get higher but on the other hand not excited at all abt stocks. Other than some stocks that I'm long in and a few Calendar put spreads that I'm working on and my spx IC....I'm more cash than I've ever been and its really hard feeling that Gee I should be putting more money to work. But I know the time will come....just be patient
Quote from DonnaV:
Hi Chris...makes me feel better that you are in cash...I've been feeling very Skitzo (sp!) abt the mkt. On one had feeling that spx at least will get higher but on the other hand not excited at all abt stocks. Other than some stocks that I'm long in and a few Calendar put spreads that I'm working on and my spx IC....I'm more cash than I've ever been and its really hard feeling that Gee I should be putting more money to work. But I know the time will come....just be patient
Yep... seems like many of us are lacking directional conviction right now. Patience is key. I must admit though, I do have a limit order in for a PAAS bull put. Support is holding right now. I decided that I'm not going to chase it. So if they will give me the fill that I want, then I will take it. If not, just have to wait a little bit longer. It is getting to the point now that new MAR positions are pretty much shot. I'm looking at APR. At least then I will have time to make some adjustments if the market chooses a direction next week.
On a different note. RIMM back off quite a bit today, setting me $15 OTM on the call leg of my IC. I was thinking that the put leg would be very safe but I might have to adjust the call leg. Seems like th opposite might be true now.
Quote from DonnaV:
On one had feeling that spx at least will get higher but on the other hand not excited at all abt stocks.
....I'm more cash than I've ever been and its really hard feeling that Gee I should be putting more money to work. But I know the time will come....just be patient
Donna,
this all about trading business. Never sure what`s the best. But whole thing is about moving beyond feelings of mere mortals
SPX - all resistance levels are usually hard to pass by and the question is about the stomach more than strategies. You`re absolutely right - there will be better time to try, market is not going to die tomorrow.
Even if you`re wrong this time - it doesn`t matter. You`d better praise yourself for staying firm and controled.
Sorry if it sounds parental
Quote from ChrisM:
Donna,
this all about trading business. Never sure what`s the best. But whole thing is about moving beyond feelings of mere mortals
SPX - all resistance levels are usually hard to pass by and the question is about the stomach more than strategies. You`re absolutely right - there will be better time to try, market is not going to die tomorrow.
Even if you`re wrong this time - it doesn`t matter. You`d better praise yourself for staying firm and controled.
Sorry if it sounds parental
it didn't...we need a support group for antsy traders who need to sit on their hands.....Cache don't trade just because your bored! If I had held back ONE more day on my buying back a put I'd have saved $800 bucks:eek: