Is it time to buy an index straddle?

Discussion in 'Options' started by Eliot Hosewater, Jul 28, 2011.

  1. VIX is down a bit today and the debt ceiling vote after the stock market closes today.
  2. Paper-traded 20 AUG1 131/132 SPY strangles for 3.13. This was earlier in the day when SPY was trading around 131.35.

    If I had any balls I would have used real money, probably never get a situation like this again.
  3. "Sold" the put side for 3.72 for about .60 profit overall. Holding the calls in case the market comes back, otherwise will lose .09 on those.

    Hey, I did better than Atticus, except he used real money. What do I win?