i dont want to position myself above the 200 MA. I am looking at the june 1345/1350s or 1350/1355s. We are not close enough yet for me to get the credit i need. Given the momentum of this seloff i am in no rush to get into put spreads yet.
For 1350/1355, what credit are you looking for? So you plan to enter the trade on a bounce? Agree with you on the put spread... I'll wait...
yes i know, but i think i mentioned this last month, i am only playing the call side until we get a correction in the index. Put spreads introduce too much risk in my strategy(more than the call side) so i am being cautious here. I already got a call position for june, i am in no rush to introduce unnecessary risk.
i am looking for $1.2-1.4 credit. I probably won't wait for the bounce as by then it will probably be too late. I will probably just jump in on the first firming. I dont think i will get it but thats my entry, i have no problem sitting out the put side another month.
I'm tempted to put on the call side today even though SPX is plunging... the credit is holding up though because VIX is high...