My original bear call spread (short Sep 84, long Sept. 88) blew
up with XLE breaking above $84. Repaired it with long calls
and a bull put spread, turning it into a sloping condor. I
plan to close it out on Monday for a smallish gain. The chart
includes commissions and closed trades, both winners and
losers. If there's interest, I can disclose the entire
scenario.
Posted by steve_nakos on 30th of Aug 2013 at 02:33 pm
TOS doesn't have XLE to short in inventory. Instead, just
sold the bearish spread: September 84 call and bought the 88 call
for a credit of $0.39, expiring worthless in 3 weeks if XLE is
below $84.
I'm willing to add to it if XLE spikes for any reason.
Wow! I guess we all suspected it to a degree, but you
quantified it beautifully! I have a few questions:
1. Would it be possible to identify shorter term market
trends that supports this setup?
2. Conversely, is it logical to short SPX during market
hours?
3. For overnight trading, would /ES futures be
appropriate?
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Repairing XLE
Posted by steve_nakos on 12th of Sep 2013 at 09:55 am
My original bear call spread (short Sep 84, long Sept. 88) blew up with XLE breaking above $84. Repaired it with long calls and a bull put spread, turning it into a sloping condor. I plan to close it out on Monday for a smallish gain. The chart includes commissions and closed trades, both winners and losers. If there's interest, I can disclose the entire scenario.
XLE Bear Call Spread
XLE system will take a short
Posted by steve_nakos on 30th of Aug 2013 at 02:33 pm
TOS doesn't have XLE to short in inventory. Instead, just sold the bearish spread: September 84 call and bought the 88 call for a credit of $0.39, expiring worthless in 3 weeks if XLE is below $84.
I'm willing to add to it if XLE spikes for any reason.
Title: Setups Both Long and
The market has made the majority of its gains overnight on gaps - powerful statistics
Posted by steve_nakos on 2nd of Aug 2013 at 02:21 pm
Wow! I guess we all suspected it to a degree, but you quantified it beautifully! I have a few questions:
1. Would it be possible to identify shorter term market trends that supports this setup?
2. Conversely, is it logical to short SPX during market hours?
3. For overnight trading, would /ES futures be appropriate?