I am closing the second half of my bearish options strategy for 75 S&P point profit (the first half was closed for 40+ points).
I am flat.
Short-term the market is looking for a low today.
Denleo
Taking more profit
Started by
denleo
, Aug 01 2007 10:52 AM
6 replies to this topic
#1
Posted 01 August 2007 - 10:52 AM
#2
Posted 01 August 2007 - 11:07 AM
Well done Dennis....but I'm really curious how that was set up in the beginning. Could you tell me exactly what you bought or sold to create that spread? I'm always interested in things like that.
TIA
#3
Posted 01 August 2007 - 11:20 AM
Thanks Tea,
It was a combination of long OTM puts and Diagonal ratio call spread (short 1 ITM Aug Call, long 2.5 far OTM sep calls). Both benefit from Vol advance more than price decline.
Denleo
#4
Posted 01 August 2007 - 11:24 AM
thanks...Greek to me.
#5
Posted 01 August 2007 - 11:34 AM
Good trade denleo !
#7
Posted 01 August 2007 - 10:23 PM
ITM = In the money
OTM = Out of the money
That's my abbreviation anyway