Trading weeklys

Discussion in 'Options' started by Skirtchaser, Aug 21, 2010.

  1. Anyone in here trade weekly calendars? I haven't put it down on paper just yet, but let's say buy an Oct SPY 110 call, then sell weekly calls against the long position. Obviously if SPY moves close to the 110 strike, maybe sell weekly 111 or 112 instead to allow for room for the long position to move up without having to close it. Of course if the SPY goes the other direction, have your loss strategy and exit plan at max pain you can take.