Recap on SPY weeklies —and some observations

After creating a position with SPY on Wednesday at 111.07  I added to my covered calls on Thursday, buying SPY at 110.12, selling 110 strike calls  at 0.71.   At one point this morning (Friday) , when SPY was off to about 109.5 my 111 strike calls had dropped from Wednesday’s 0.83 to 0.08.   These strong moves are characteristic of options with only a …

Read moreRecap on SPY weeklies —and some observations

More SPY weeklies while Schwab plays catch-up

Update 3-Feb-2011:  Schwab recently added weekly  and quarterly option support to all their trading platforms.  See here for more information. Update:  In March 2011 Schwab plans to introduce StreetSmart Edge™, their new flagship trading platform.   Among other things this platform will include, “Major options trading improvements, including the ability to trade weekly and quarterly options.” When SPY dropped to 111 this morning I started …

Read moreMore SPY weeklies while Schwab plays catch-up