SPX Credit Spread Trader

SPX hitting a critical support area today. Back to top of breakout triangle and 50-day MA as seen in the chart below. If it holds then the uptrend will still have some legs. If the bough breaks the cradle will fall and down will come SPX, cradle and all...but how far?

EDIT: Meant 20-day SMA not 50... opps Thanks Mo for the catch...

 

50 day MA or 20 day MA?

Either way, should be another exciting month!

 

I've learned 2 new things about ET in the last week or so.

1) How to search using text.
2) That I can edit my posts even after they are posted, a very handy feature.

Thanks for the info.

ryan

 

Ryan:

Which strikes were you trying to get filled today?

 

I know you can edit before you hit submit reply but how do you do it afterward? There are plenty of stuff (said)I wish I could retract

 

On Thursday and Friday last week I was trying to get the 1195/1205 filled at .10 under the mid with no luck. Tried again this morning and watched my order go unfilled for over 30 minutes (at .10 under the mid) before the premium evaporated. When the market started dropping this afternoon I lowered my strike choice and I did get filled on the 1190/1200. Now I am looking for this Santa Claus rally everyone keeps talking about.

ryan

 

After you post your post look in the lower right hand corner of your post box. Click on the Edit/Delete link and you can do your editing.

ryan

 

I thought that "delete" was for someone else thanks

 

Vix popped up by 0.70.... how could premiums drop?

 

VIX is not controlling on any specific strike price and is just a generalized index of vol using mainly ATM options. If the VIX moves higher, it is still possible for option premiums on OTM strikes to shrink relative to the index move. Perhaps increased selling pressure pushed the b/a lower...