MAY POSITIONS -500 SPX MAY 1215/1225/1370/1380 Iron Condors @ $0.60 Credit = $30,000 Risk = $470,000 Return = 6.38% VIX CALL HEDGES Long 100 VIX MAY 20.00 Calls @ $0.20 Cost = $2,000 Long 50 VIX MAY 15.0 Calls @ $0.62 Cost = $3,100 DIAGONAL SPREADS Sold - 24 MAY 1345 Calls @ $1.50 ($3,600) Bought +30 JUN 1385 Calls @ $1.05 $3,150 Net Credit = $450
Coach can you post when did you put on your MAY IC?. do you usually, put on the beginning of the month(time decay trade?) or use IV and direction of the index as well.
I enjoy reading your posts too. I have learnt a lot. So, don't keep quiet. I trade 5 point XEO just OTM and have done much better that the FOTM SPX trades. But, I am not comfortable trading the SPX just OTM. So, will continue with FOTM only bear call trades on SPX.
May Put spread was open on 4/7 and MAY Call spread was open on 4/18. I just look for a good entry and credit at the strikes I am interested in. More personaly style than any concrete rules. I closed off my April posiitons to open margin and then look for the puts first and added the calls after some runup...
The b/a spreads on XEO aren't really any better than SPX, what makes you uncomfortable trading the SPX vs XEO?
rallymode, coach, anyone, Apparently my last post was buried buy the recent mud slinging. I am curious about ATM credit spread adjustments . What are some of your thoughts on actions to take when the short strike on these are threatened. I realize these are a different bird and am interested in the criteria used to activate adjustments. Thank you
You big wuss, come on trade like a man, chase that premium! Just kidding, just kidding! Trying to lighten up the mood in here today.
Coach: I have a number of June bear call spreads that I entered into earlier that now have midpoints of $0.05 or less. However, I can't seem to get the MMs to bite on letting me get out at $0.05. I could try $0.10 and would still retain over 80% of the credit received, with new powder in the keg. There is 4 weeks left on June so maybe I should get out at $0.10. Curious as to your opinion on this.
Good luck on getting out at .05, I've been trying for a week with no luck. According to TOS today the mid is -.05 so maybe I can get a credit while buying back my spread