Actually, I'll roll either down (in May) or out (to June), depending on what the situation dictates. More risk to roll to June, but I'm a risk taker of sorts and can do it for a credit usually....
i wouldnt worry about the puts just yet but any surprises in the oil inv at 10:30 could be a major push to either direction.
I agree. Plus the Beige Book at 2PM (EST). Guess that's why we're not directional traders. I personally would be broke already trying to trade the funnymentals...
Got my first fill on my new strategy for one of my IRA accounts. I've changed it a little from my earlier posts. Strategy is: 1) Bear calls only so as to avoid a black swan event 2) FOTM call spreads the second month out, put on 7 to 8 weeks out. 3) I'm going for a little better credit than posted earlier and will compensate by risking less margin. Fill: June SPX 1375/1385 bear call at $0.55 20% of the IRA portfolio in this position. No additional positions will be put on until just after May expiration. At that time I'll look at July bear calls. So after about a month passes I'll have 40% of the account in bear calls spread out over two months. My goals are to make a good annual rate of return (around 15 to 20% on the entire account amount, not margin risked), obviate the possibility of a black swan event affecting this account, and be further FOTM than my regular account.
About 20% of the account amount is what I meant. So the margin is about 20% of the account (I trade round lots so it's not exact).