We finally closed this spread out for .90 gain! Im tired of rolling it, and we were not going to risk losing it all on a massive recovery towards the end of the week!

Your Order Has Been Submitted
 TOTAL PROFIT 1.90 Credits received – 1.00 Buy to close = .90 Credit Profit! Im happy to move on!
Account – IRA Account

Order Details

You have entered a spread.
Leg Action Contracts Option Description Price Duration
Leg 1 Buy to Close 7 SPXW Call SPXW Mar 01 2013 1515.00 Call Debit 1.00 Day Order
Leg 2 Sell to Close 7 SPXW Call SPXW Mar 01 2013 1520.00 Call Debit 1.00 Day Order
Quote SPX   1,496.75   8.90 Bid 1,496.43 Ask 1,496.94 Volume 0
SPXW MAR 01 2013 1515 CALL
SPXW MAR 01 2013 1520 CALL
Bid 2.75 1.75
Ask 2.90 1.90
Last 2.85 1.80
Change -0.65 [-18.57%] -0.50 [-21.74%]
Volume 2,675 3,170
Delta 0.22 0.16
Open Int 5,424 10,402
Desc SPXW Mar 01 2013 1515.00 Call SPXW Mar 01 2013 1520.00 Call
Net Quote
Bid
0.85debit
Mid
1.00debit
Ask (natural)
1.15debit

***********************************************************************************************************************************************************************************************************************************

TODAY WE TWEETED OUR EXECUTION ON ANOTHER ROLL THAT WAS DOWN STRIKE LEVELS AND OUT TO MAR1.

THIS TIME WE BOUGHT TO CLOSE THE FEB22 1520/25 BEAR CALL SPREAD, AND SOLD TO OPEN MAR1 1515/20 BEAR CALL SPREAD @ 1.10 CREDIT

THIS BRINGS OUR TOTAL CREDIT RECEIVED TO $1.90 NOW.

BROKEN DOWN:

INITIAL FEB16 1520/25 WAS .65 NET CREDIT RECEIVED,

THEN ROLL FROM FEB16 1520/25 TO FEB22 1520/25 WAS .15 NET CREDIT RECEIVED,

AND FINALLY TODAY, THE ROLL FROM FEB22 1520/25 INTO MAR1 1515/20 WAS 1.10 NET CREDIT RECEIVED.

ALTOGETHER THAT EQUALS OUR $1.90 NET CREDIT RECEIVED SO FAR.

WE MAY STILL ROLL YET AGAIN, IF A FURTHER REASONABLE ADDITIONAL CREDIT OPPORTUNITY PRESENTS ITSELF.

02/20/13 Sold to Open -7 SPX Call

Spx Mar 01 2013 1515.00 Call
SPX Mar 01 2013 1515.00 Call $10.65 $7,451.05
02/20/13 Bought to Close 7 SPX Call

Spx Feb 22 2013 1520.00 Call
SPX Feb 22 2013 1520.00 Call $3.20 -$2,252.71
02/20/13 Sold to Close -7 SPX Call

Spx Feb 22 2013 1525.00 Call
SPX Feb 22 2013 1525.00 Call $1.75 $1,221.19
02/20/13 Bought to Open 7 SPX Call

Spx Mar 01 2013 1520.00 Call
SPX Mar 01 2013 1520.00 Call $8.10 -$5,673.76

FYI, WE ROLLED TODAY, IN CASE THERE IS A RELIEF RALLY TOMORROW WHICH HAPPENED THE LAST TIME SPX BROKE DOWN.

WE RECEIVED A VERY FAVORABLE ROLL, AND HAVE ANOTHER WEEK NOW FOR THE MARKETS TO BREAKDOWN SOME MORE.

AS ALWAYS APOLOGIZE FOR ANY GRAMMATICAL ERRORS MADE, WAS WRITTEN PRETTY QUICK TONIGHT.

*****************************************************************************************************************************************************************************************************

FEB 15 ROLLED 1520/25 BEAR CALL SPREAD

INTO

1520/25 FEB22 BEAR CALL SPREAD @

NET .15 CREDIT

THAT BOUGHT US SOME TIME FOR A CORRECTION.

02/14/13 Sold to Open -7 SPXW Call

Spxw Feb 22 2013 1520.00 Call
SPXW Feb 22 2013 1520.00 Call $7.68 $5,374.69
02/14/13 Bought to Open 7 SPXW Call

Spxw Feb 22 2013 1525.00 Call
SPXW Feb 22 2013 1525.00 Call $5.13 -$3,601.26
02/14/13 Bought to Close 7 SPX Call

Spx Feb 16 2013 1520.00 Call
SPX Feb 16 2013 1520.00 Call $3.12 -$2,194.26
02/14/13 Sold to Close -7 SPX Call

Spx Feb 16 2013 1525.00 Call
SPX Feb 16 2013 1525.00 Call $0.72 $502.69

*****************************************************************************************************************************************************************************************************

OUR M-2/11 MONTHLY CREDIT SPREAD WALKED INTO THIS SPREAD ON THIS RECENT FLASH RUN IN THE SPX.

WE TWEETED TRYING TO GET IN EARLIER TODAY. AS ALWAYS THIS IS JUST TO SHOW WHAT IS GOING ON AND SOME TRADES WE ARE IN.

THE SPX IS RIDING CLOSE TO ITS UPPER BOLLINGER BAND AND 1520 IS WAY ABOVE THE CURRENT BOLLINGER.

TRADE DETAILS BELOW ARE FROM WHEN THE ORDER WAS SUBMITTER EARLIER.

Your Order Has Been Submitted
Account: XXXXXXXXX – IRA Account

Order Details

You have entered a spread.
Leg Action Contracts Option Description Price Duration
Leg 1 Buy to Open 7 SPX Call SPX Feb 16 2013 1525.00 Call Credit 0.65 Day Order
Leg 2 Sell to Open 7 SPX Call SPX Feb 16 2013 1520.00 Call Credit 0.65 Day Order
Quote SPX   1,466.99   5.97 Bid 1,466.73 Ask 1,467.24 Volume 0
SPX FEB 16 2013 1525 CALL
SPX FEB 16 2013 1520 CALL
Bid 2.10 2.65
Ask 2.60 3.30
Last 2.30 2.95
Change 0.40 [21.05%] 0.40 [15.69%]
Volume 8,745 4,760
Delta 0.11 0.13
Open Int 29,980 17,252
Desc SPX Feb 16 2013 1525.00 Call SPX Feb 16 2013 1520.00 Call
Net Quote
Bid (natural)
0.05credit
Mid
0.63credit
Ask
1.20credit

 

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