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SPX Calendars, Sell them instead of buy them

I was in an option mentoring session yesterday working with one of my brightest students when we began looking at the SPX September-October call spread.  The spread had a mid price of about 13

Guest Blogger Dr Lawrence Silverberg blogger at VolTraderBlog and Option Pit Student.

Dr. Lawrence Silverberg is a star Level 3 traders, and good friends in the business.  He used to guest blog at my old site all the time.

POT Breaking down a bullish option spread

During the Pit Report a few of our option mentoring students asked me to take a look at POT and see if there were any bullish trades that might have

AAPL out with Earnings, a Secretly Long Gamma, Long Delta trade!

Yesterday during the Mid Day Pit Report we discussed an interesting AAPL earnings play, one of the plays I liked involved buying AUG ATM calls in AAPL and selling more out of the money Sep calls to