SPX Credit Spread Trader

I just peeked at the quotes, you could probably close both for .10 each (maybe get lucky and close the calls for .05 who knows). You are probably ok where you are but it would be cheap to close one or the other or both so you can get some sleep tonight.

ryan

 

Any reason why this would be at all relevant to the thread? Or is it just SPAM LOL

 

I am going to leave it. If 25 points on the down side and 20 points on top are not good enough, It doesn't make sense to trade SPX at all.

I want to leave it the way it is.

Good luck

 

I cannot foresee tomorrow's SET troubling you at all. You should be quite fine.

 

Hey Coach:

That's a good price even though you didn't get the full fill. If you'd like, I'll take those 15 at $0.35 off your hands. That's just what I was looking for.

 

I think this is a very relavant issue, and I would like to learn more about it. To me the more "professional" we can all become the better off we are. After my time trading CS's and IC's, I have become a risk manager first and foremost. So if you don't mind answering specific questions, let me pose a few more.
1) When you join this prop shop, are you going to be using a trading system from your "home" or will you have to walk into a physical place or office?
2) How much capital is required to begin trading this way, or for the prop shop to consider you a "client"/"trader"?
3) Are the fees higher than OX or TS since you will probably be paying for market data and other pro tools? (obviously the advantages being spoken of do require some cost)
4) Where did you go to find this prop shop that you are joining?

I don't want to become a "full time trader", but I also do not see the advantages of saying a retail trader forever. For example, I was dying to trade the market decline in japan, but had no way to do it. Is there a middle ground somewhere? And does that middle ground just require more money, which for some might be a issue, and some it may not.

skd

 

Coach,
Correct me if I am wrong, but I would like to restate that this repair strategy does not work unless you have a risk based margin system to fund the fly and the associated roll down of the credit spread.

Or you can convience the complience department at your brokerage to free up your reg-t margin.

skd

 

Is a "limpy bitch" Iron Condor the girlfriend stage of a "prego" fly? hehehe.....

 

I only got filled on 15 of them and then the bid ask spread went south. I will just leave it. If the market surges some more I can add the other 110. i was happy with the price since I first went in at $0.25 and then decided to go for it at $0.35 in the middle.

 

go to bed....NOW!