Bobbie 5:32 am on Thursday, December 8, 2016

All- I have a SPX…

All- I have a SPX 2265/2290 Dec 30 call that is in trouble. Any advice as to how to handle is welcomed.

Jeff 5:43 am on Thursday, December 8, 2016

How many contracts?
- Bobbie 5:45 am on Thursday, December 8, 2016
  
  2 contracts
  - Jeff 5:51 am on Thursday, December 8, 2016
    
    What’s your usual rule for stops on the call side?
    - Bobbie 5:57 am on Thursday, December 8, 2016
      
      I follow your rule when it gets within 20 of the strike. I’m hoping you can tell me how to get of of trouble with this one in trouble. I missed this trade when looking over my SPX trades & let it get to be 2X credit.
      - Bobbie 5:58 am on Thursday, December 8, 2016
        
        more than 2X the credit. I can close it is an option.
      - Jeff 6:00 am on Thursday, December 8, 2016
        
        We did not hit 2245 yet.
        
        Bobbie 6:04 am on Thursday, December 8, 2016
        
        yes, but it looks like it will hit it today.
        
        Jeff 6:08 am on Thursday, December 8, 2016
        
        Then you close it. Roll options:
        3x contracts, higher call spread for Jan 6th.
        or
        3x contracts, iron condor for Jan 6th
        
        Bobbie 6:10 am on Thursday, December 8, 2016
        
        Thanks Jeff!
        
        Bobbie 7:12 am on Thursday, December 8, 2016
        
        I closed the trade & opened & IC 2150/2175/2140/2115 for 2.10 cr
        
        Jeff 7:14 am on Thursday, December 8, 2016
        
        I think you got your strikes wrong there… but good job!

Leave a Reply Cancel reply

s: search
c: compose new post
r: reply
e: edit
t: go to top
j: go to the next post or comment
k: go to the previous post or comment
o: toggle comment visibility
esc: cancel edit post or comment