As an experiment, I bought a 1315 straddle yesterday @ $6.20. I've noticed that SPX usually has a wide swing on the last trading day. So far the put side looks promising. Cru
I have the Sep 1325c/Oct 1350c diagonal. My breakeven at expiration is approx 1333. With the market currently at 1314 as I write this it looks like I will hold on and let SET fall where it may (I'm rooting for 1325 .). If we have a rally later in the day I may change my mind but only time will tell.
Not to skew the experiment but remember this is quad witching week so the SPX moves might be bigger than on the other expiration days so do not take this Thu and Fri's activity as the norm.
Well better said Quad witching day, equity options, index options, futures and options on futures all expire at thee nd of this week. Potential for lots of market volatility.
Looking to sell about 500 - 600 contracts but I am being aggressive on the limit price so I doubt I will be filled unless we move back lower. I do not want to be above 1230 on the short strike given past support levels.
Coach, normally you are using 15 point interval, why now is 5? And then I saw the chains the bid ask is n/a 1.00, can we can filled on the n/a 1.00 bid ask? And then I try to open a 5 contracts order, but it seems so difficult, is it because to small contract?