SPX Credit Spread Trader

I am working currently on them, actually ratio diagonals and it looks promising, however I need some violent movement to see how my adjustments will keep up with the madness

 

I am going to start paper trading a double diagonal later this week. We will have to compare notes and see how it goes. What strikes are you placing positions at?

ryan

 

By all means share the double diagonal here so I can follow too!

 

You`d better tell us what the final result is, not play games

 

Which results? American Idol? My date with JA?

 

You forgot Big Brother to make this intelectual challenge completed

But to make this party over - are there any other concerns regarding conversion of OTM verticals into Iron Flies or Boxes besides price ?

I usually stay with BOX, as index going deeply further in one direction increases probability of reversal, but it has its price.

 

Only concern is if I adjust my OTM vertical into a VLY or BOX and the index reverses and moves back away from my short strikes, thus making the adjustment unnecessary in hindsight and I have to take a limited loss I wuld not have needed to take.

However since I cannot really control that so I dropped that concern a long time ago because the one time I hesitate in making an adjustment waiting for a reversal is when the market will really tank and cost me a chuck of cheddar. I like the FLY conversion when I really feel the market is going to keep moving against me. Then I have a rediced risk lottery ticket for large potential returns if the market moves towards the body of the converted FLY and hovers there. If not, then I significantly reduced my risk anyway and move on to the next month.

 

Frankly,

I like iit in my private account, but for OPM I`d rather stay with BOX - no excitment, but some average.

The worst is when market plays around the body for a while and then flies away right before expiration. I know, you may get out, but this is like daytrading sometimes.

 

Coach,

What are the equity requirements for your MAR short straddle ... 5 contracts right ?

 

Coach,

Is there any place I can go to review a spread price at a specific time.

This morning I placed 3 put spreads orders; The S&P lost 7 points and I was due for a fill and never got filled. I called OX 10 minutes go and they told me that the system was down at SEBEL Ex and they were going to review the trades to see If in fact I was due and they will fill my orders if necessary.

Do you know any site I can review it myself?

Thanks