FWIW, Shortly after the open this morning (I dont post trades in real time any longer because if Im wrong and lose money I dont want anyone piggy backing my trade and losing money. It should be at my expense, no one elses); 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
Theres 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 Im not willing to buy puts, Ill limit my directional bet to selling call spreads for downside protection (for my Long REITs).
Trading credit spreads, part II
Started by
cycletimer
, Mar 06 2018 11:37 AM
3 replies to this topic
#2
q4wer
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Posted 06 March 2018 - 06:16 PM
now, it crashed, so your position is safe, all premium banked.
#3
cycletimer
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Posted 06 March 2018 - 08:44 PM
now, it crashed, so your position is safe, all premium banked.
It sure is! WOW! It'll be an interesting morning
#4
cycletimer
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Posted 07 March 2018 - 12:44 PM
OUT! I just covered the spread. I normally hold these much longer, most of the time thru option expiration but this news-related selloff may not last long and I dont want to overstay a short call position thats only 4% out of the money.
Im now eyeing several stocks to sell puts on.
Im now eyeing several stocks to sell puts on.
