FWIW, Shortly after the open this morning (I don’t post trades in real time any longer because if I’m wrong and lose money I don’t want anyone piggy backing my trade and losing money. It should be at my expense, no one else’s); I sold the April $SPX 2820/2850 spread for a credit of 5.80
I tried to get them to hit my $6.00 limit order but after 5 min of no fill I ratcheted it down to $5.80
There’s a feel that this 2-day rally ended this AM on the open. Last evening my charts generated an upside DOW target of 25,038 but we never hit that level. I believe the next leg down started but I’m not willing to buy puts, I’ll limit my directional bet to selling call spreads for downside protection (for my Long REIT’s).
Trading credit spreads during volatile times
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