fibwizard 9:40 am on Monday, July 15, 2019
Tags: SPX ( 105 )

SPX Trade

STO qty 2 Aug 19 SPX BUPS 2815/2915 @ 16.42

Ron 9:50 am on Monday, July 15, 2019

Hello fibwizard, you STO 16 Aug spread? Dang nice trade its at $7.80 now
- fibwizard 10:05 am on Monday, July 15, 2019
  
  Thanks Ron..Barring some disaster or Political issues, it has a good shot at expiring worthless…
  - Ron 10:24 am on Monday, July 15, 2019
    
    I hope it works out and expires worthless.
    Do you make this type of trade often, so far out that is?
    - fibwizard 10:30 am on Monday, July 15, 2019
      
      Yes, this is my SPX trade…when premium is reasonable, and the chart looks okay, this is how I trade SPX ..short a Delta 10 or so, and long 100pts below my short side..if the mkt moves higher, I get my 80% profit quick…if its flat, it expires worthless…if it moves against me, I have time to exit without a lot of damage..I have traded it this way since before Bistro was born..and I knew Jeff back then also..:)
      - Addy 11:18 am on Monday, July 15, 2019
        
        I see you are back to 100 points BuPS. I looked at BuPS 2915/2815 2 AUG 2019 shows $4.75
        
        fibwizard 11:28 am on Monday, July 15, 2019
        
        I made my trade earlier than you looked …your a few hours too late…
        
        Addy 11:30 am on Monday, July 15, 2019
        
        that could be right, if I am you I will close it at $5 now
        
        fibwizard 11:40 am on Monday, July 15, 2019
        
        I have no idea what your talking about…
        The Spread currently is at $1 diff than when I sold it…
        
        Jeff 12:47 pm on Monday, July 15, 2019
        
        Looks to be about an $8.00 spread. Are you saying $16 because you sold two of them?
        
        fibwizard 12:49 pm on Monday, July 15, 2019
        
        yes..that would be correct..
        
        Jeff 12:56 pm on Monday, July 15, 2019
        
        Well that would explain the confusion!
        
        When listing prices without the multiplier, please use the single option price, so “sold 2 at 8.21.”
        
        If you want to refer to full credit received on the trade, you can use the dollar amount, so, “sold 2 for $1,642 total credit.”
        
        Thanks
fibwizard 12:59 pm on Monday, July 15, 2019

will do…sorry for the confusion….

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