SPX Credit Spread Trader

Any update on this case before Elaine Bucklo in Chicago? The exchanges and specialists were going to walk away from millions of trading violations handed to RAES bandits.

What clearer case can there be for becoming a market-maker? You can do anything you want to public customers. Public traders aren't allowed to win in the options markets even when the professionals break the rules! Surely, you'll find that significant when deciding to be a broker-dealer, or a public customer.

"Become the hunter, not the hunted".

 

FYI, the settlement values for SPX, OEX, DJX, RUT and NDX can be found on the CBOE website... link below. And they are not defined by the index itself, but by another index.

For instance, the RUT idx settlement price on the 3rd Fri is based on the RSL value... i..e. RUT Flex Opening Exercise Settlement Idx.

And this is not explained anywhere very clearly... it took me years to find out this info... by chance... in an options trader article a couple of months ago. Give a look at the values of SPX and RUT on the first hour of Fri exp and the settlement values to see the differences.

www.cboe.com/data/Settlement.aspx

Good trading,

IT

 

What was the final scorecard of OC for the 3+ years of this entire thread ??

Thanks.

 

I know I'm drubbing up an very old thread here but have just skimmed through most of it and was wondering why it went cold? Found it to be quite informative and picked up alot of useful info from many posters that don't seem to post anymore

 

no response needed, read the later posts & it just seems it died of natural causes.

 

I am on Bear Call Spread (1070/1080) on SPX. It is very scary now as SPX moves higher everyday. Anyone have any alert notification system or website when a stock or index moves to a particular value, it should automatically send me an email to put a sell order?

Thanks

 

The thread got a little long to keep up but mainly the volatility environment changed I stated somewhere in there that it was no longer the best scenerio to sell credit spreads in my humble opinion. So I shifted away from the strategy.

 

What was your entry price? What is your exit if sp keeps on trucking?

www.FreeStockCharts.com is a great site, and allows price alerts.

There is also a new site which issues free trading signals via text: www.GoTradeSignals.com

 

I am in at .30 credit for the spread. Thanks for your links.

 

I'm assuming you mean 1170x1180 and not 1070x1080?