{"id":9665,"date":"2015-10-05T09:44:26","date_gmt":"2015-10-05T13:44:26","guid":{"rendered":"https:\/\/trades.iwopremium.com\/?post_type=topic&p=4345"},"modified":"2017-11-21T16:59:05","modified_gmt":"2017-11-21T20:59:05","slug":"overbought-spx","status":"publish","type":"post","link":"https:\/\/trades.iwopremium.com\/overbought-spx\/","title":{"rendered":"[CLOSED] Overbought SPX"},"content":{"rendered":"

\"spx-\"<\/p>\n

Market’s up 4.5% in a 5 day period, that doesn’t happen often and it means we are overbought here.<\/p>\n

I expect sideways action so we want to look at bear call spreads instead of a put buy strategy.<\/p>\n

Here’s the trade:<\/p>\n

SEll to open SPX Oct 2020\/2025 Bear Call Spread @0.80<\/p>\n

Add to the trade at 1.20 and 1.70<\/p>\n

All out at 0.10<\/p>\n

The bid\/ask spreads are stupid wide so make sure you use limit and not market orders.<\/p>\n

Update 10\/5\/15: Filled 0.90<\/p>\n

Update 10\/5\/15: Filled 1.30, Bidding to Close at 0.90<\/p>\n

Update 10\/7\/15: Filled 1.70, will close out third add at 1.30<\/p>\n

Update 10\/7\/15: Nice Dip In the Market. Closing out third round at 1.20<\/p>\n

Update 10\/7\/15: Exiting second round at 0.80. Will re-add 2nd tier at 1.40 and 3rd tier at 2.00<\/p>\n

Update 10\/7\/15: Filled on 2nd tier again at 1.40, will close at 1.00<\/p>\n

Update 10\/8\/15: Bidding 1.00 on 2nd tier on open… filled.<\/p>\n

Update 10\/14\/15: Out Original round at 1.00. I’m *completely* out of all tiers, will wait for a squeeze higher to re-initiate.<\/p>\n

\n

Margin Calculation (3 spreads per tier):<\/p>\n

Tier 1: 1260
\nTier 2: 1110
\nTier 3: 990<\/p>\n

Max Margin: 3360<\/p>\n

Profit Calculations<\/p>\n

Tier 1: Enter at 0.90, Exit at 1.00. Loss of 30<\/p>\n

Tier 2: Enter at 1.30, Exit at 0.80. Gain of 150<\/p>\n

Tier 3: Enter at 1.70, Exit at 1.20. Gain of 150<\/p>\n

Tier 2: Enter at 1.40, Exit at 1.00. Gain of 120<\/p>\n

Total Profits: 390.<\/p>\n","protected":false},"excerpt":{"rendered":"

Market’s up 4.5% in a 5 day period, that doesn’t happen often and it means we are overbought here. I expect sideways action so we want to look at bear call spreads instead of a put buy strategy. Here’s the trade: SEll to open SPX Oct 2020\/2025 Bear Call Spread @0.80 Add to the trade […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":12,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":2,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/9665"}],"collection":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/comments?post=9665"}],"version-history":[{"count":1,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/9665\/revisions"}],"predecessor-version":[{"id":9988,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/posts\/9665\/revisions\/9988"}],"wp:attachment":[{"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/media?parent=9665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/categories?post=9665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/trades.iwopremium.com\/wp-json\/wp\/v2\/tags?post=9665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}