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taowave

Registered: Apr 2006
Posts: 743

08-03-11 07:42 PM

Just ratio the upside,i.e the Dec 31/40 1x3 for a 50 cent debit..the upside calls are trading at a 40% plus vol..On the next rally,they will go down as the air comes out of the vol..

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syswizard

Registered: Jun 2004
Posts: 3605

08-03-11 09:06 PM

Quote from taowave:

Just ratio the upside,i.e the Dec 31/40 1x3 for a 50 cent debit..the upside calls are trading at a 40% plus vol..On the next rally,they will go down as the air comes out of the vol..

Not a bad idea, but what about selling the 30/28 put spread ?

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taowave

Registered: Apr 2006
Posts: 743

08-03-11 10:27 PM

At these levels,I want to be long delta and short vega to the upside.
I am hoping to make dollars,and the put spreads are trading for 1 dollar

Quote from syswizard:

Not a bad idea, but what about selling the 30/28 put spread ?

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syswizard

Registered: Jun 2004
Posts: 3605

08-04-11 01:58 PM

Looks like another "opportunity" to enter long today.
New lows in TBT for sure....could we get to 27 ?

It's obvious now the economy has over-shadowed any concerns about debt downgrades or defaults.

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taowave

Registered: Apr 2006
Posts: 743

08-04-11 03:02 PM

Thats why a low debit spread with time is really the best play.With a Dec spread,you dont have to have perfect timing.

Quote from syswizard:

Looks like another "opportunity" to enter long today.
New lows in TBT for sure....could we get to 27 ?

It's obvious now the economy has over-shadowed any concerns about debt downgrades or defaults.

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syswizard

Registered: Jun 2004
Posts: 3605

08-04-11 04:02 PM

Quote from taowave:

Thats why a low debit spread with time is really the best play.With a Dec spread,you dont have to have perfect timing.

Of course.....but I prefer "quicker hits".
That is why options are so nice....lots of flexibility to accommodate risk tolerance and preference.

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