If you chose JUNE I assumed you had a longer term negative view past next week so perhaps your assumption is still lower and I did not want to suggest a box or closiing the position if your assumptions were past next week. You could box it or close it, whichever has a better fill and just take the money if you wish but I was not aware of your expectation to JUNE. Just worried about a nice bounce after two days of selling and absorbing econ data.
OK, I'll see about potentially closing sometime today... but the MMs are goofing with the price... and it's not nearly where it should be...
Time boxes are termed "rolls" and are done as positions in markets where a large change in carry is expected. There is no rationale for trading synthetics to arbitrage unless it affords a significant edge. Trading to a box is a cover.
> vol > width Everything is exhibiting an increase in var; credits, swaps, etc... haven't seen this one day jump since 1987
Top to bottom in 2 days, this selloff exceeded my most bearish expectations. I see further downside before june is done with but we need to pause/bounce a lil perhaps. I will be looking at bull put spreads around 1270-1280 if we get there.