Thanks for the feedback. I've been doing net credit spreads over the SPX and the OEX for while now and I'm looking into ways to diversify. I'd like to keep it simple, so I'm thinking about learning one or two new strategies. I have a day job, so I have to keep that in mind as I can't watch the market all day. Net Credit spreads are nice because once I enter a trade, I can put in an exit order that will get me out of the trade if the strike price of the short option gets hit. Maybe I should start a new thread that discusses the pros and cons of other strategies. Thanks again for your replies!
You've piqued my interest! I'm not clear on your trade though. Can you be more specific? (Also, did you mean TELK instead of TECK?) Thanks!
There are only basically two types of spreads. Vertical spreads, which you are working on and horizontal (time) spreads. Look at doing calendar spreads when VIX is relatively low...esp put...again you generally don't want high vol stocks for calendars. Once you understand the vertical and horizontal then you can combine for diagonals. (thank you Mo) Every spread, whatever the name is a vertical, horizontal or combination of them....simple (or complex) as that. Very smart to learn each strategy over time esp with a day job. Best. oh we do have a calendar thread which has some good stuff in it as well as IV 's trades....