That's a good idea. Best to execute before hope dawns. SDS is very volatile, swinging half a point in seconds. The option premium is very wild, all over the place.
ok – just keep in mind that Sundancer said expect a 50 point drop if we got through yesterday's containment which would put us more at the 1078 level today. If you have time sensitive options (may ones), you might want to consider putting triggers in there. For my june puts, I will only by them in when we hit 993.
Yes, you can key it to the index which is what I do. You get lousy executions, but it is better than trying to type in the order when the market hits that exact point and having your system freeze. Red made a suggestion to me to put the trigger in somewhere slightly higher than you want to sell it (i.e. if you think SPY is going to 105, put it in at 106), so that you get the execution while the market is falling, rather than when it is bouncing.
Ok – found the post I was looking for. Here is your navigational tool from Sundancer-
Should at anytime next week the $SPX take out todays lows then things ought to get interesting. Here is a Navigational tool should that happen http://www.flickr.com/photos/47091634@N04/46068… Containment levels yellow/dark purple: 1120's light purple/blue: 1070's burgundy: 1020's white: 1010's green (last containment pt.): 980's
That's a good idea. Best to execute before hope dawns. SDS is very volatile, swinging half a point in seconds. The option premium is very wild, all over the place.
ok – just keep in mind that Sundancer said expect a 50 point drop if we got through yesterday's containment which would put us more at the 1078 level today. If you have time sensitive options (may ones), you might want to consider putting triggers in there. For my june puts, I will only by them in when we hit 993.
Yes, you can key it to the index which is what I do. You get lousy executions, but it is better than trying to type in the order when the market hits that exact point and having your system freeze. Red made a suggestion to me to put the trigger in somewhere slightly higher than you want to sell it (i.e. if you think SPY is going to 105, put it in at 106), so that you get the execution while the market is falling, rather than when it is bouncing.
Never mind, I figured out the triggers. I'll set for 1020, may revise to 980 depending on how today closes.
Looks to about 1078 or so.
I meant SPX.
Thanks Diablos. I don't think it will hold. I have a few trade triggers in for May puts when SPY reaches 1079.
I have this chart: http://www.screencast.com/users/rcjstocks/folde…
It bounced exactly at the 192 SMA. Not suggesting one way or the other if it holds.
Ok – found the post I was looking for. Here is your navigational tool from Sundancer-
Should at anytime next week the $SPX take out todays lows then things ought to get interesting.
Here is a Navigational tool should that happen
http://www.flickr.com/photos/47091634@N04/46068…
Containment levels
yellow/dark purple: 1120's
light purple/blue: 1070's
burgundy: 1020's
white: 1010's
green (last containment pt.): 980's
http://www.flickr.com/photos/47091634@N04/46068…
OK, hope for the bulls at 1106. Next stop 1090ish, I think.