Jeff 9:39 am on Wednesday, May 10, 2017
Tags: SPXcampaign ( 2,265 )

SPX calls sold

#SPXcampaign Sold to Open $SPX June 9th 2450/2475 call spreads for 1.50, with SPX at 2398.

walter6871 9:53 am on Wednesday, May 10, 2017

looks good, following
thanks jeff
rck89 12:43 pm on Wednesday, May 10, 2017

Don’t you also have a June 2, 2450/2475 BeCS outstanding? Or did you close (or roll) that position? I’m still holding the aforementioned June 2, spread. Thanks.
- Jeff 12:45 pm on Wednesday, May 10, 2017
  
  I still have it. order in to close it for .20
  - rck89 1:01 pm on Wednesday, May 10, 2017
    
    Thanks. Any reason why didn’t you change your strikes (move up or down)? Just curious.
    - Jeff 2:10 pm on Wednesday, May 10, 2017
      
      That’s not how my plan works. I sell spreads each week and close them at .20. I don’t roll winners. Webinar coming some day, if I can get my butt in gear.
      - walter6871 4:59 pm on Wednesday, May 10, 2017
        
        Jeff, what other criteria do you use when opening spx spread.
        I try to shoot for 85% probability out of money and 16 delta.
        Oh when Vix was 15 + life and filters were different.
        I noticed you seem to pick the best price of the day!
        Is that gut feeling or something specific?
        
        Thanks for your time.
        
        Jeff 5:06 pm on Wednesday, May 10, 2017
        
        I sell one iron condor (each side separately) per week for every $25K of planned capital. Short strike around .10-.12 delta, 25-point wide (which results in a sale price of 1.25-1.75). In instances like today, I will watch morning action and set a spread price I think will fill if we move a few points in either direction. Today, I set the call order at about 10 minutes after the bell, and actually was out of the house when it filled 2 hours later. It is not scientific but certainly based on watching the markets consolidate like they have been. Mornings like today, with SPX mildly down, usually turn positive mid morning.
        
        walter6871 5:27 pm on Wednesday, May 10, 2017
        
        thanks for your thought process.

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