What are some Basic Strategies that have Worked for You?

ChrisDouthit said:
I do a lot of vertical spreads, butterflies, and iron condors. However, in my personal account, I do sell short-term straddles and strangles, but I definitely would not recommend anyone do that without having a firm grasp on what you're doing.
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Do you use calendar spreads in addition to the spreads listed above? If you don't, why is that?
 
Pekelo said:
Overnight the market gaps up 4 out of 5 times on an average week, this is getting ridiculous. Today's expiry 337 SPY call was 60 cents at the close, SPY (336.7) will open at 337.7, so those call options are going to be 80-100% up at the open.

As a general rule, you can buy index calls on any pullback, just leave a couple of days for it to recover.

Edit: They opened around 1.04-08, currently over 1.2
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What expiration are you usually buying? The nearest weekly?
 
zdave83 said:
Do you use calendar spreads in addition to the spreads listed above? If you don't, why is that?
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Yes I definitely do calendar spreads to, almost put a calendar spread on this week, but decided to do a risk reversal instead. Really just depends on the situation. But calendar spreads are definitely good strategies.
 
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