...and there was me thinking MACD was somewhere to get a Big Mac and fries. Next you're going to tell me that RSI is not something you get when you type with bad form. Momoney.
Okay, Phil has taken off his bear put spread so it must be time to short the market lol. Facetious mood today, sorry. Momoney.
Problem is I wanted a pullback to give me some breathing room on my call spreads and I knew the market would not move back lower as long as I had a directional bet on that wanted the market to go lower. SO the best way to get the market to start falling was to take off my bear put spread
I've been watching my two shorts..1220 put side and 1245 call side and its been interesting to see them back and forth...IV and probability...I like the last two days but know there will be at least one strong day...up? down? (tomorrow?) my crystal ball is cloudy...what does MACD say?????
Does anyone trade this way? With SPX=1230 do the following: - buy a put fly 1210/1220/1230 for $1.85 - buy a call fly 1240/1250/1260 for $1.05 and play the swings that are almost gauranteed to come up in the next few days/weeks.... haven't tried this but I think there is a technique along these lines that advanced traders use... any insight would be appreciated!
SPX is pulling back today. If tomorrow's PPI causes a further drop I'll put on my main DEC put spread and use 15% of the credit to buy a 1250/1260 bull call spread for around $2.50.
F@#$in SPX.... nothing worse than being right but taking your trade off too soon and not giving it time to do what you intended it to do.... LOL