Big selloff today following poor non-farm payroll (NFP) data. Used this opportunity to close the call spreads, and sell put spreads. The thought is that today's selling seemed to be a little panicky, and the potential for an oversold bounces exists. Will be looking to redeploy the calls should we get any significant rally next week.
Trade:
BTC SPY SPY June 12 122/120 bull put spreads for ($0.07-$0.04) x 100 x 10 spreads = $30 paid vs. $200 received = $170 profit
6/1/12
Big selloff today following poor non-farm payroll (NFP) data. Used this opportunity to close the call spreads, and sell put spreads. The thought is that today's selling seemed to be a little panicky, and the potential for an oversold bounces exists. Will be looking to redeploy the calls should we get any significant rally next week.
Trade:
BTC SPY June 12 138/140 bear call spreads for ($0.05-$0.02) x 100 x 10 spreads = $30 paid vs. $180 received = $150 profit
Sold SPY June 12 122/120 bull put spreads for ($0.59-$0.39) x 100 x 10 spreads = $200 premium received
5/24/12
Market seemed to shrug off the bad worldwide macro data today, even though it appears to be a hint at global economic conditions deteriorating. Based on the thesis in this post, I shorted the S&P 500 SPDRs (SPY) via credit call spreads. Basically, this appears to just be an oversold bounce, potentially preparing for another leg down. I placed the short strike above the 20- and 50-day smas, to give myself plenty of room to be wrong, however.
If we start to turn down and test around the 130-area, or 200-day sma, I'll look for another bounce and sell put spreads for a condor.
Trade:
Sold SPY June 12 138/140 bear call spreads for ($0.30-$0.12) x 100 x 10 spreads = $180 premium received
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