Seems like just when you can't see the market moving higher.... it moves dramatically higher.... Hope some of you are playing with the diagonals this month! M~
Do any of you guys/gals sell credit spreads on individual stocks? or do you stick mainly to index options?
Rally, The SPX is approaching the top part of the channel again, another up day tomorrow and we will be there. Are you looking at the possibility of a June call position (5 point spread) or is it too early for you?
i do, but thats another topic, for credit spreads on individual stocks you should look at cache's thread called "vertical spreads for aggressive growth"
June is too early for me. As i said earlier, if this was the first time the SPX reached the resistance and i didnt already have a may position, today or perhaps tomorrow(with a favorable GDP report) would be a good time for may positions. I am not even thinking about june just yet. I try to stick to my 4-5 weeks window, sometimes i shorten it to a min of 3 weeks but i never widen it. I am doing some other SPX speculative trades in my other account but those are pretty aggressive. Also, i may do another debit spread if the SPX hits 1320.
The MMs don't like me. I am still at 100% cash waiting for them to bite and they don't seem to like my money. I am looking at anything above 1335 as short but so far they don't want to dance. cash is still good Wait for GDP tomorrow.
Does anyone know of a good website for finding out when upcoming economic events, like GDP numbers, housing starts, fed numbers, etc., will occur. I need to start considering these types of announcements/events more when timing my entries. Thanks.
http://www.marketwatch.com/news/economy/economic_calendar.asp?siteid=mktw&dist=& http://www.earnings.com/highlight.asp?client=cb