SPX Credit Spread Trader

my bad, its 1235/1240. i thought u turned a portion into flys and sold off the rest?

 

Bull Put?? Did you buy these back at the peak? I didn't see any credits at that point.

 

OK, that explains it. You had me goin' for a minute.

 

I'm trying a small lot of 1300/1305, no luck on a fill yet.

 

My bad too, I meant 1235/1245.

You're right though. I did turn some into flies. Now I'm toying with buying back one side of the fly, leaving me with a bear put.

 

I just filled a 1305/1315 for $1.00. Had the oder out for about 15 minutes.

 

Alright, now that we had our bounce thanx to the Memorial Day Rally (cache, promotion worked LOL) what is next for our beloved index?

We are closing at a relatively weak resistance point here. If we get through 1280-1282, i see a continued move into the 1290-1300 area. Now that's where i expect MAJOR resistance. I do not see the SPX going over 1300 unless something really positive comes out of the economic reports over the next week or two.

1290-1300 would be a pretty good area to open bearish position, however i wouldnt go the credit call route this time around. As always just my opinion.

Have a great holiday guys!

 

Completely agree. Strongest resistance at 1295. Bear puts are probably the better choice. I'm actually thinking about going halvsies and opening both bear calls and bear puts. Or a few bear calls and long ATM puts. We'll see.

 

.10 under the mid and no fill. Gives me the long weekend to look things over.

 

Whoops, just looked again and got filled @ $2.00, not $1.00.