Ben, Do you do any TA before entering a DD? Or do you just look for a time when you can enter at even or slight debit? Tim
Placed trade today: IWM, sep/oct 70 put calendar @1.00 Getting concerned about my QQQQ sep/oct 38 put calendar. Delta is 51 but still just at B/E. A move over 39 will get me out.
Thanks for pointing out XLE. Looking at sep/oct 56/57 put diagonal. Looks promising. voty very low. Any comments on correlation with the spx, etc.
So far I like XLE for cal's and diag but I wouldn't say they offer any real separation from the SPX as many of the underlying are in both ETF'. Edit- checking it out in Barrons in 2004 XLE 's top five holdings...XOM CVX COP OXY and SLB gained 48% vs SPX 13% so I guess you can say XLE is a sub-set of the SPX .
Bought 10 XLE sep/oct 56/57 put diagonal @40. I have a rule to open an order 5 cents below mark, and it worked well this time.
Here is an interesting reading http://www.billcara.com/archives/Role of spec in energy market Senate Report.pdf ~B
Uh, yeah. Let's let GOVERNMENT control the price of oil. That should fix everything -- those nasty, nasty speculators are ruining this county. We will have fifty cent gas. hahahahahahaha
placed -3 SEP ES 1325 P 16.5 +3 OCT ES 1325 P 21.5 +1 132 OCT SPY P just a 2 week spread Potential gain @ exp: $2k for constant IV Risk: $1.7k Breakevens: 1308, 1342 Adjustments: 1312, 1338: Adjust to delta neutral with SPY puts/calls 1308, 1342: Remove position, reassess.