I'm going. I know a way to get a free floor pass to walk around the exibit hall if anyone is interested.
I had my 1300/1310 Bull Put SPX Spread filled this week for .25 cents which is a 2.6% return. Now I will wait to complete a Bear Call SPX Spread next week for another 25 cents so that I earn 5% on this IC trade. I like earning 2%-3% per spread trade and then 4%-5% per IC trade when I can.
Mav, what would you call a good r/r? Most of my credit spreads are 4:1. I calculate that as max loss vs. max profit. Cru
Here's a recent SPY credit spread. SELL -10 VERTICAL SPY 100 DEC 06 141/143 CALL @.50 LMT [Edit] I calculate this as having a 3:1 r/r. Max loss= $4500 Max profit= $1500 Cru
OMG SPX BUSTED through the 1389 resistance like it was butter! I AM SO GLAD I closed my SPX NOV IC rather than hold through exp!! whew... SPX at 1392 and looking pretty beefy.... TS
I think I will just cancel my open order to sell 1305 put spreads for DEC lol.... I tried every dip these past weeks to grab DEC aggressively but no bites, no way in hell I am selling any calls the rest of the year..
My DD is getting crushed this afternoon with the strong push higher. Another month, another large move upward just a little too fast. Only a few days to SET and I have another decision to make, hold on or get out with my profit now. Lots of theta still and lots of vega too if we get a quick dip. Decisions, decisions, decisions!