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SPDR S&P 500 ETF Message Board

  • xtgeminiman Aug 15, 2013 5:10 PM Flag

    Does Anyone Use Interactive Brokers' Yield Enhancement Program?

    Sounds like a good program. No wonder they have tons of shares of just about everything to short.

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    • Makes sense. TD never has NUGT, DUST, or most others. Only TZA and UVXY do they have often, and sometimes not UVXY. Somebody is making a killing shorting those. Can you update us on the results of your pairs strategy when you get the chance? Think it will be something to try once I switch my account.

      • 2 Replies to bobwins_o_phile
      • xtgeminiman Aug 15, 2013 5:44 PM Flag

        I covered most of my UGAZ as I said and shorted DGAZ instead, so it's hard to say as I haven't shorted 50/50 with them. I also had the TVIX short and a few other trades so I've made most of my loss back already. I also went all in on GDXJ and GDX after taking the hit on the DUST calls.

        The strategy definitely works but I'm not sure how viable it is. I think a decent amount of people know about it so you're fighting for shares. I've wanted to short DSLV/USLV, RUSS/RUSL and YANG/YINN but there's not enough.

        I've started shorting leveraged ETF call spreads (for a credit) lately because there's no limit to the amount of calls you can write. I'll probably buy put spreads too since I'm skeptical about trading huge positions and having someone from Goldman or something look at my position. There are great safe OTM call spreads that you can short for .2-.25 a pop, not including commissions. You have to balance when you want them to expire though. I shorted TNA 62 and bought TNA 63 for SEP today. .24 credit. I am bearish due to a trendline that crosses the '00 and '07 and current high on the RUT so I figure it's a fairly safe trade. There's a ton going on in SEPT that can bring this POS down too. So yeah, I might get a 24% return on that position or I might lose 100%. You can also leg in and out of some of the spread if you want to get a higher return. It really depends on what you're comfortable with. Just don't overleverage like I did with the DUST calls. That was a GREAT trade and I f***ed it up. If I had spreads, the margin would've been built in. Just a lot of things to weigh.

      • "Somebody is making a killing shorting those"
        Who? xtgeminiman was killed shorting DUST a couple weeks back. :(

    • I'm curious about them. What's the connection between that program and good short inventory?

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