Well, I had never done it over two days either. When I realized that I wasn't going to get the order off I sort of stared on the screen for a moment or two, wondering "now what do I do..." I woke up this morning at 4:30 a.m. PST (7:30 a.m. your time ) to check the futures, fearing we'd see early upside. It worked out and my orders were filled, so I'm still in the game. I'm looking forward to closing the books on October next week, but it has been an interesting ride this month.
Me too. I have a 1165 / 1230 IC, and 1150 / 1160 Put Spread. Got $2.35 credit in total for the spreads.
I had Oct 1175/60, which I rolled out to 1140/25 last week. Put on more contracts so I didn't lose anything there. Took a .40 loss rolling Nov 1160/50 to 1140/25 today. Holding my breath on some Oct 1160/45 puts. I wouldn't mind some Oct scalps tomorrow, but am hesitant to add any November exposure right now. I don't think the market has seen near enough fear to say that we've put in a sustainable bottom.
Everyone is doing a great job in adjusting and staying on top of their positions! This has been a tough month. As I said there are usually 1 or 2 of these a year but you take the actions you are taking you can still have an annualized 15 - 20% return for the year. Even a 10% return would be great this year . Today's late rally was nice given where we were at lunch. Hopefully it can signal a pop tomorrow. Once OCT expiration is done, I would like to hear how you all fared if you do not mind sharing. Phil
agreed. I was looking into more otm put spreads for november. I would like to see 1100/1110 or 1100/1115. I guess it won't happen until oct exp or if spx trickles down to near 1140 imho. currently have 1125/1140 oct @0.7 and 0.65 spx @1210 and 1189 1125/1140 nov @ 1.3 spx @1204 newbie.
Let's see if 1180 holds after the opening and Michigan Consumer Sentiment at 10:30 AM.... Phil <breathing a little easier but still 5 days to go.....>
Yes, this lack of November strike prices is most annoying. I'm actually considering the 25 point spreads, because there may be some decent premium; that is premium relative to the 25 point spread. Am I correct on this coach? It seems to me there isn't any difference in getting $1 for 10 point spread versus $2.50 for a 25 point spread. To get the same $2.50 I would put on 2.5 - 10 point spreads versus 1 - 25 point spread. For example, the November 1100/1125 bull put might get around $2.00
Disclaimer: This could be totally bogus info but..... A buddy of mine was also trying to open some Sept strikes in Aug that we're not open. He called either the cboe or the 1-888-options (OIC) and asked them to open up the strikes. They called down to the MM and opened them up. It doesn't hurt to try! In fact if a couple people call, it might even be better. I'm game.... SD
I have called to get new strikes posted several times. In fact, the CBOE has it on its Phone Mail options. However, they have not become available until the next trading day. Chip