Future now down 2.50. It is such a thin market in the after hours for the ES futures I pushed the b/a myself! I was a little restless so I decided to test something with just 1 contract and put in order to buy at the bid of 1179.75 and it was filled shortly after. Then to see if I could move the market I immediately put a sell order in at the ask of 1180. It hit in about 6 minutes lol. Volume is 4 for the time period I traded. Anyway I was just having some fun. After commissions my experiment netted by $4.00. I had a banner day trading the futures due to the wild price swings so I was drunk with power. I now take you back to your regualrly scheduled programming.... Phil
My first step might be a partial hedge using the mini-SPX as I was looking at different choices today. I will be more inclined to adjust if we get near 1170 but I want to finance it first with some long puts or put spreads. If we have an up day I may still grab the hedge at cheaper prices. Phil
Coach, My current values for November Iron Condor positons: SPTWF SPX NOV 1130 Put $4.30 $4,300.00 -1,700.00 SPTWH SPX NOV 1140 Put $5.40 ($5,400.00) 1,900.00 SZPKH SPX NOV 1240 Call $0.65 ($650.00) 800.00 SZPKJ SPX NOV 1250 Call $0.40 $400.00 -350.00 For a week and a half.... it's not a bad profit, approximately 10%. Although I feel comfortable right now... the latest news and increase in volatility has me thinking. Is this an opportunity to double up on some more Puts? Roll down calls? Close entire position and re-tool for Dec? I'm open for suggestions, ~ ~ _/) ~
Pain, yes, but ONLY if they just bought calls/call spreads and did not attempt to go delta-neutral. Sell overpriced (acc to vol) puts/buy underpriced (acc to vol) calls + sell underlying=long-term profits. It is sometimes called volatility trading. Natenberg has a section on it. Tends to produce more GAIN than PAIN/
Is there a web site that has free futures quotes (delayed is fine)? I always see CNBC and others list the futures on screen before the market opens but I don't know where they are getting their information. I've gone to www.cme.com and see that the S&P is +225 or something like that, not sure what to make of that information. I'm just curious as to where this information comes from. ryan
This is the link I use. Outside of regular trading hours, the yellow symbol shows the pre-market levels. Hope this helps. http://money.cnn.com/data/markets/index.html Chip
Thanks for the post for those who want to follow the futures. If you have ToS, they show the futures quotes around the clock which can be traded. I see them also live through TradeStation. The real trading usually kicks in between 6 - 7 AM so if you just turn on CNBC at 6:00 you can follow them there as well throughout the morning until theopening. Phil
Coach: Are you considering any bear call spreads before the weekend is upon us and theta kicks in even more? I'm considering a 1240/1255.