They don't have anything yet. The only thing I found is optionetics platnium. I guess I might pay for one month $100 and finish my back testing right there. I prefer to write code and you can't do that with optionetics.
I don't know what format they used. It does not match with data I got from TOS or yahoo at all. I'll cancel my trial period and might try stricknet.com instead. They charge $97 for data since 2003.
Added some calls on the upday today to add a little more juice to the JUNE positions. Also fixed the error in previous Risk and Return calculations. JUNE POSITIONS Sold 225 SPX JUN 1140/1160 Put Spreads @ $0.75 Sold 225 SPX JUN 1330/1350 Call Spreads @ $0.15 Credit = $20,250 Risk = $429,750 Return = 4.71% And just for craps and giggles I bought 200 JUNE SPY $133 Calls @ $0.05 for $1,000. If we get a little surge to 1280 in the next week or so, maybe I can squeeze out some profits. SPY is higher than the SPX so it will hit near 1330 before SPX. So if the market explodes, I have some cushion on the upside.
Great going,coach. I admire the way you calmly put on a trade in the right time unlike me whos edgy and jumping the gun.I guess its like learning to drive.Once it becomes an unconcious habit, i can ride this all my life. So, you have 50% of your portfolio in ETFs and the remaining 50% you trade credit spreads on SPX?. What do you do with the rest of your time?.Just curious...
Starting to look at July positions: CALL 1350/1375 -- $1.30 PUT 1150/1175 -- $1.90 or 1125/1150 -- $1.30 (better) 1125/1150/1350/1375 is a 200 point spread...
The real key is patience. Not feeling like you HAVE to be in a position or having anxiety cause you are not in one so that you do not rush to take any credit you can get. This usually leads to rushing into a bad position which you might survive a few times but the one time it bites you in the ass, it will leave a nasty scar. Basically I do not have fixed percentages for CEFs but I try to keep a minimum of 50% to 70% in CEFs and some cash for adjustments and other option positions. My monies are a little split up now so it is harder to track the percentages overall but that is the general idea. The CEFs are mainly buy and hold and once in a while I go in and rebalance and dump some losers and add some more funds. The credit spreads are month to month and my main time now daily is daytrading the futures on the S&P, Dow and occasionally Russell 2000. By the end of the year I hope to move small % into FOREX. Main thing I learned from Market Wizards is to have some good diversification of markets to trade if you have the time, experience and skill to do so. Of course one should not spread themsleves too thin. Within 6 weeks or so I will be fully divested of my previous career and trading full-time and then..... the REAL work begins lol...
coach, what made you decide you wanted to leave your career and become a full time trader? i, myself, am looking to venture into trading full-time but i need to grow my account first to a place that would allow me to trade conservatively while making enough to live off of. I'd say 500k-1M is a nice place to be at. I'm 27 so i have a few years left before retirement LOL
Optioncoach, I noticed you put on new spreads, 75c on the put side, 15c on the call side. Do you have a minimum credit you look for? I get uncomfortable at less than 50-60c per side for a 10 pt spread. Your thoughts?
One of the sites i frequent had the following article today. Whether you believe in history or not, if you are bored, interesting read nonetheless. Yesterday, we had an enormous daily rise in the VIX of over 30%. To put this into perspective, we have only had one larger VIX spike in percentage terms since 1998, and that was the day we opened after 9/11. A chart in my most recent post on the Trading Psychology Weblog puts this into perspective. What typically happens after a single day spike in VIX? Since January, 1998 (N = 2108), we have had 27 occasions in which VIX has moved more than 15% in a day. All but one of these occasions were market declines. The next day, the market (SPY) was up by an average .37% (18 up, 9 down). That is much stronger than the average daily change for the entire sample (.02%; 1092 up, 1016 down). Just as important, the five days following the VIX spike day showed much higher VIX (and price) volatility than average. The average daily VIX change over the next five days was 7.91%, and the average daily price change was 1.42%. Those compare with the averages for the sample of 4.13% and .89%, respectively. After a five-day period of VIX volatility averaging 9% per day or more, the next day in SPY averaged a loss of -.18% (11 up, 15 down), but the next five days averaged a gain of .34% (14 up, 12 down). Once again, VIX volatility led price and further VIX volatility. Over the next five days, the average daily price change was 1.39% (vs. .89% for the sample), and the average daily VIX change was 7.14% (vs. 4.13% for the sample). Overall, when the five-day average VIX change is 6% or greater (N = 287), the next five days in SPY average a gain of .67% (178 up, 109 down). This bullish tendency exists even when VIX levels following the VIX volatility are below 20. Interestingly, there is no edge one day out, however, in any of the data. In short, volatility in the VIX begets volatility, with bullish implications five days out. That having been said, VIX percentage changes can be misleading, as recently pointed out by Adam Warner in his excellent blog. Nonetheless, look at the time periods with the highest five-day periods of average VIX change: April, 2005; September, 1998; March, 2004; and September, 2001. These were good times to buy stocks for an intermediate-term hold.