SPX Position Opened In addition to the XEO position I saw some credits OTM on the SPX I wanted to grab. Sold 110 OCT SPX 1165/1175 Put Spreads @ $0.55 Credit = $6050 Risk = $110,000 Return = 5.5% For now I am gonna stick with puts on both the SPX and XEO and I still have some gunpowder if needed. Intresting sidestory, after opening this position I went long the E-mini SP and right after my computer crashed and I had no internet access at all. After scrambling for 30 minutes or so I finally called into my broker and closed out the futures up 1/2 point. Internet kicked in shortly thereafter but man I was in the dark there for a bit @#$%. Phil
Interesting... Thanks DrZ It means that eventhough they may not display big size quotes on the XEO you can assume that what you see on the OEX is the size they'll on the XEO. the XEO might say 50 x 50....however you want 5000 up...they'll be happy to do it. [/QUOTE]
Had the following trade filled today: SPX Oct 1150/1160 bull put spread at $0.40. I usually will go OTM a little more than Coach because 1) I believe (and hopefully not blindly so) that this will give me some more cushion which I feel is necessary since I can't watch my positions all the time 2) past experience has taught me that I'm not as calm as I should be when making adjustments (particularly if there is a big down draft). 3) I can follow any adjustments Coach makes, hopefully, prior to my having to make an adjustment.
Are you front running me @#$%! LOL. I probably shaved more than should have in order to get filled . Phil
Will you confirm again the strike prices on both sides of the IC. As stated in your post this is not and IC. Thanks.