Credit Spreads

[TinGull]

Also just got filled on a call vertical that I sold on SOLF for 40 cents, 17.6% return with 76% probability based on the vols.



It's a DEC and any close under the top of that range we've got will give me max profit. Note, too, IV is really pushing high. These folks report earnings on Tuesday and right now it's looking like "smart money" knows what those earnings are gonna be and they want to be poised for taking it lower. When the report is released and vol gets crushed even if earnings are good I won't get hit too hard with it. High odds setup here.

[TinGull]

Covered some positions today. Seeming how theres still 30 days left till DEC expiry and I get nearly my max profit...I'll take that. And actually....now that I look at my statement...I got out of that one at .02, NOT .04. Gotta love smart routing.

SOLF is working well, too.

[james_gsx]

I'm going to bump this ancient thread

Here is a chart of the SPY, obviously price has dropped substantially since this thread originated. Tin, what would you setup for a credit spread in this instance?

Maybe July 132/133 (but these are nearly worthless) and July 119/118 puts. Would that be on the right track?



Also Tin, do you know where on TOS (or anywhere) where I can get tutorials for using their software?
EDIT: NVM, figured that part out