Put on a few May 1280/1270's today for .5 when SPX was at 1310. 15 pts below major support at 1295. Now i'm wondering if this was bit too rash. Thoughts?
What a blood bath this is. Don't see a single green stock on my watchlist except oil and gold futures lol Position update! June SPY 131/129 bear put spread. Sold 50% of position for .80. Return on risk 78%. Holding the other half for more.
Ya, thanks. Likely out of the woods with my May bear calls at 1340 and 1350; in fact just just closed out my hedge. Needed alittle something to keep me humming for next week. Personally I think we bounce next week a bit off of the 1300 to 1295 area. will see!!
Anybody else have the 1625/1610 put spred on the NDX? IF so, what are you doing to hedge it, if anything.
Starting from before the Fed announcement I legged into 50 129/130/131 SPY Put Butterflys for $250 credit after starting out with a $2,250 debit for the SPY 131 Puts in MAY. Not sure how much further we got to go but we may churn around 1300 for a few days
Nice trade coach, i was thinking of waiting a lil longer and turning the position into a credit FLY also but given that i put on a bigger size than what i usually do i decided to take profits off the table. Besides my aggressive port isnt doing too well this month so these gains were quite welcome. I might still go the credit FLY route with the other half if we dip a lil further. What is your plan for the FLY?
Yes, could well be a nice buying opportunity here and we bounce. Who knows? I believe wild swings of this nature are to be expected in the coming weeks. That's just me talking out of my ass. However, all I really know is that SET knoweth not of support and resistance LOL. She can reach up or down through otherwise inpenetrable surfaces only to then nudge you off that cliff - much like Patrick Swayze in Ghost ha! On a .50c spread with only a week till expiration, you have virtually no choice but to hold on till expiration in order to realize any gains worth taking - in which case you may have to take your chances with lady SET. Mwahaaahaahaaahaaaaaa.