You bring up really good points...not only more directional trading but also day/weekly trading and in this volatile environment most likely not a good approach. I still need to babysit my 1245 put shorts and when the market can move so quickly...playing around with July while the June pot(puts) is close to boiling over is reckelss for sure:eek: If you do a Ft Lauderdale in the winter...I'm there... I'll skip the summer heat/humidity!
I still find it next to impossible to trade SPX. I entered a Jul, 10-point put spread early in the day, asking for a credit of 55 cents. Later, the natural market became 30 cents bid; 1.30 offered, and they still did NOT take my offer. Pretty unbelievable. Mark
Agreed... F'n ridiculous. Got filled FOTM but ~.25 from the mid. The further OTM, the worse the fill. C-bow has a lock on it and like the Naz and NYSE, they're not gonna change until forced to.
Coach, Congratulations. I learned a lot of trading from your posts more than any books I read. There is no books teaching option trading together with risk management like this trade. I wish you success in your full-time trading career. People said chaning career/jobs is a big stress in life as well as having a new child. I wish you manage both stress well also. -Nick
Great trade, I was going to do the same thing but as you can see from my journal trades, I opted to go a different route. The return on risk should be comparable in the end, but it will have taken me an extra week.
For those of you calculating one and two Sigma for June and July expiration on the SPX, I would be interested what number you are now applying for Vol and what results you are getting. Thanx Cody
Coach did you grab any SPX puts yet.I am looking at below 1150 but they are all in 25 points spreads. oh you are still in june positions,right.slipped my mind.
I'm just pulling this info from TOS at the moment: June 1 sigma = 1224/1299 2 sigma = 1190/1337 July 1 sigma = 1194/1335 2 sigma = 1130/1409 vol = 18.14% You can also do a rough calculation by taking the ATM strangle for 1 sigma, doubling it to get 2 sigma.
Is there a formula that could be used. I've seen a couple but nithing where you could just plug in some number and get the calculation. I'm not too good at square roots.