SPX Credit Spread Trader

Black Swan, come on! When the market cracked in '87 the dow was at 2700 when it started, it came down about a 1000 points fast. Do the math, the market is over 11,000 now that would be 4000 points in todays points!

 

This thread is ONE year old today.......1100 pages....One of the best.

 

Starting a relationship with the close to expiry credit goddess could be a dangerous affair. Her cousin the upside gamma boy usually sneaks up on you when you least expect him.

 

Congrats, Coach on your first anniversary.

BTW: I hope you're not planning on leaving. Remember, we know where you live.

 

Rally, you got it. Fat fingered an order today. Was looking at Jun OEX 575/580 Bull Put spread. Thought the credit was a little low, but entered the order. Then I noticed it was for MAY!!!

I'll wait until tomorrow to see if I need to roll the short 575 to 585.

Too fast on the trigger.

 

I am not a fan of chasing credits close to expiry. If there is one thing that i dont do, this is it.

 

Lot of sentiment that we're going to bounce... since everyone expects it, is it really in the cards?

 

Because of gamma?

 

Rally, me too. Today was a stupid mistake.

 

Coach:
I have currently have a May 1245/1255 bull put spread. Do you think I will be safe. I do have a partial hedge. If the market opens lower tomorrow, I am thinking of closing the position or rolling the short side for a loss tomorrow. Any suggestions appreciated.