Jeff 10:46 am on Wednesday, October 25, 2017
Tags: ITMroll ( 83 ), SPXcampaign ( 2,265 ), VIXIndicator ( 294 )

Was that a bottom? SPX trades

If there’s a bounce to be, it has begun
#SPXcampaign #VIXIndicator The VIX topped out (thus far) at 13.20, which is .47 shy of canceling the Upside Warning. If the bullish trend is to continue, the bounce may have started now.

Closed $SPX Nov 3rd 2520/2545 call spreads for 19.45. Sold Friday for 22.70. This will be another #ITMroll, but I’m going to roll it late today or tomorrow, provided we continue higher.

Stopped Oct 31st 2560/2535 put spreads for 9.60. Sold for 3.15 on Friday. This was stopped on the way back up from the lows. Can’t risk a gap down with expiration date so near. I’m going to consider how to roll tomorrow.

hcgdavis 10:59 am on Wednesday, October 25, 2017

I was going to attempt a directional trade, but then realized my theta decay across multiple accounts spiked. Probably better just to collect the cash as it decays into the account instead of trying to get fancy directionally and buy /ES.

But yes, that looks like a bottom on the 5 and 15 minute charts
Jeff 11:06 am on Wednesday, October 25, 2017

Also closed the Nov 3rd 2560/2586 call spreads for 10.10. Sold last Friday for 14.00. Same intention… will roll as SPX goes higher.
- Jeff 11:08 am on Wednesday, October 25, 2017
  
  And sold Nov 8th 2560/2535 put spreads for 7.45, as a roll from the Oct 31st one I closed above. Not ideal, but since I have several ITM call spreads still, I’m offsetting them with some aggressive puts. This one has a further out expiry so it’s safer to carry if we gap down.