Weekly Options

As an example with futures comparison....

For a credit spread trade I did....it was on a Thursday...and I placed a credit spread on the call side, 1310-1325, during an intraday top when SPX was at 1314 or 1315 ish (this is late April).

I got $4 credit, and watched as SPX slowly reversed down throughout the day.

Actually that day it only reversed slowly until 1309 ish.

Let's say a futures trader.....

Shorted at 1314 and covered at 1309.

5 points is $250.

But for options trading, we can get $4 which is $400.

Of course the difference is, I did not close the position, so there is overnight risk if the Friday SPX's SET value should move up. (for closing intraday I think the cost to buy back was also $200s something, forgot).

So indeed it can be used for intraday or overnight trading.

However not all things are rosy, the opposite is true, if you are directionally wrong, or wrong timing, shts hit the fans.

(I had a few very bad trades with single long weeklies, still recovering psychologically, pain....)
 
Quote from Li Ka Shing:

As an example with futures comparison....

For a credit spread trade I did....it was on a Thursday...and I placed a credit spread on the call side, 1310-1325, during an intraday top when SPX was at 1314-1315 ish (this is late April).

I got $4 credit, and watched as SPX slowly reversed down throughout the day.

Actually that day it only reversed slowly until 1309 ish.

Let's say a futures trader.....

Shorted at 1314 and covered at 1309.

5 points is $250.

But for options trading, we can get $4 which is $400.

Of course the difference is, I did not close the position, so there is overnight risk if the Friday SPX's SET value should move up. (for closing intraday I think the cost to buy back was also $200s something, forgot).

So indeed it can be used for intraday or overnight trading.

However not all things are rosy, the opposite is true, if you are directionally wrong, or wrong timing, shts hit the fans.

(I had a few very bad trades with single long weeklies, still recovering psychologically, pain....)
More...

LK S , are you sure you know what you doing ?
 
Of course, hehe...just that my directional skills need further improvement Lol.

Previously since last year I only took virtual trades with the weeklies ever since they're out, and only credit spreads Monday or midweek or Thursday.

I find that single leg trading is much more difficult....different mentality. Actually I should practice first.
 
Quote from Li Ka Shing:

Of course, hehe...just that my directional skills need further improvement Lol.

Previously since last year I only took virtual trades with the weeklies ever since they're out, and only credit spreads Monday or midweek or Thursday.

I find that single leg trading is much more difficult....different mentality. Actually I should practice first.
More...

OK then
 
feel free to chat me on yahoo and I will try to post a better bid/offer than what you currently see. my ID is "makebidoffer"
 
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