I am newer to option trading and have been doing bear call spreads on equities but would like to switch to indices as a result of the reduction of unsystematic risk. The weeklys (specifically SPX) caught my interest and I have been paper trading them for a few weeks now before I got live with them. My question is last week I was able to write a 1100/1110 bear call spread with an obvious 10 point spread, however, I only see 25 point spreads now on my TOS platform. I am assuming I am missing something here. Any help would be greatly appreciated Thanks
last week there were no weeklys per say, the weeklys there were in fact the regular monthly options that were set to expire that friday. You have much less choice with weeklys. They go by codes A for week 1, B for week 2, no week 3, D for week for and sometimes (like today) E for week five. If you don't like the spreads on the spx, go either with the mini, xsp or the s&p100, XEO (european) and OEX (american)
OEX now at 483.72. anyone trading the weekly options expiring today. major moves!! anyone doing credit spreads (either with the calls or with the puts ) that expire in 120 minutes?
yep Adam, I was. I was short a few hundred (400) puts on the XEO 470 since wednesday. I would never in my right mind go with the OEX, I prefer european options... I wasn't nervous today, I knew it would take a huge drop (more than 5.5%) but I sure was wednesday when the whole think kept going down in the last 2 hours