Index spread?

[hissho]

Hi all

I bought some XJO puts at 5150 and was planning to sell them this Tuesday only to see the market surged through the roof and hence the value of the puts went down the drains...and my question is this: can i do spreads on XJO? if i can maybe i would sell some XJO puts at 5175 or 5200 so that i can collect some premiums

just a thought when trying to rescue this "sinking ship"...could be a stupid question but any help would be much appreciated

hissho

 

[mlennox]

Hi all

I bought some XJO puts at 5150 and was planning to sell them this Tuesday only to see the market surged through the roof and hence the value of the puts went down the drains...and my question is this: can i do spreads on XJO? if i can maybe i would sell some XJO puts at 5175 or 5200 so that i can collect some premiums

just a thought when trying to rescue this "sinking ship"...could be a stupid question but any help would be much appreciated

hissho

no offence but going short anything other then telstra at the moment is financial suicide

 

[sails]

Hissho, I have opened option spread trades on XJO with both Morrisons and OptionsXpress, however if you use a different broker suggest you check with them first.

Sounds like you are trying to fix the trade on the run and is usually very difficult to do. I've learned this the hard way especially with options, so now make sure I know the exit or adjustment plan before entering the position.

All the best with the trade