SPX Credit Spread Trader

wow its comming down real hard.Guess the short term rally was a counter trend.

 

Actually looks more like a first Fib retracement from the high to the 1245 low (38%).

 

Makes me glad I bought some VIX 10 calls Friday. Just in case.

 

I bought some 123/122 debit spreads(15cents each) for hedging purpose.My position is 1215/1205 credit $1.

Maybe i can sell them for $.50 when the IV is high.And buy them back when it is low.If i repeat this by the time SPX comes to around 1220, i would have probably offset most of the loss.

 

Assuming you can perfectly time the highs and lows of IV. Hedges are not for swing trading unless you really have experience doing it. Leave the hedge there and let it do its thing. If the market keeps dropping, IV is not coming down.

 

I bought 10 AUG $15 Vix Calls for $1.65 a week or two ago myself. Not a hedge, just straightforward play on VIX picking up over the next two months.
Trading at $1.90 right now and should inch higher as we approach end of JUNE Fed meeting.

 

Guess you are right.

 

Today's action is putting us back down towards the 200 day moving average. Fair amount of data to come out this week , will have to wait and see how the market reacts. Time is short for June and July is a little too far away at this point so nothing to do except watch June positions for now.

 

My VIX 10 call I bought Friday just hit my sell trigger @ 18. Didn't expect that to happen so quick!

 

I had read a while back that thinkorswim planned on offering an options backtesting feature / historical options data to its members. Are they doing that now? If so, how far back does the data go?