I used to use the Prophet Charts all the time but I've since moved over to the ToS charts. I write thinkScript for strategies and then I can backtest it on the ToS charts. I like the Prophet charts but they don't give me the functionality that that ToS charts do. You can write your own indicators, etc as well if you like in thinkScript. The ToS charts are just have a lot more functionality. Some things aren't as good, but overall they're better IMO.

Yes, I do avoid selling spreads if the earnings announcement will be before expiration. Thanks for bringing up that, I completely forgot about it and it's just something I do without thinking about it.

-Alli

Hi,
Good to see someone trading spreads.
My long term goal is to do spreads to generate income.

I wish you good luck

Are you doing any spread trading right now? If so, I'm curious - what do you do?


-Alli

Sent from my iPhone

I am not doing any spreads currently.
Just long calls and puts, but day trade NQ and ES full time.

All of the spreads for this week are doing well at this point - all except one on SINA. It's still above the short strike which is fine if it stays there. It has not moved up much since the day I opened it. It does however have bullish divergence on the MACD and a double bottom on the 1 hour chart (chart below) All the others have rocketed up and are pretty safe. With tomorrow being a holiday, I get a free day of Theta decay in my favor. :-)

Starting to take a look at where things currently are in preparation of selling more spreads for next week starting on Thursday.

-Alli

Next weeks options become available tomorrow morning. The markets look overbought on the hourly, daily, and weekly. This gives me a bearish outlook for the next week.

I'll be looking to enter bear call spreads this week.

I've opened three new bearish positions for next weeks expiration. Here are the orders. Annotated charts to follow.




Here are the charts for these three trades:

This is where I ended up at the end of the day today... I added two more spreads in addition to the three from this morning.

All of the spreads opened for next week are:





The charts for the two other trades are:



and

Allistah 

When you have the date and time, you can use the "OnDemand" feature in the ThinkOrSwim platform and see exactly what the charts were at that exact second as well as the cost of the spread. I had a hard time going back to look at losing trades without the time just for this purpose.

OMG!

You'd piqued my interest and I dug up a quick tutorial thanks to some Googling (I can't post a link yet). Wow! I can't believe I didn't know about this feature.

Anyone who uses TOS and doesn't know about it should check it out.

All of my spreads for this week are looking perfect and should expire worthless over the weekend. Once the market closes, I'll post a summary of the trades for this week.

-Allistah