STO the other side of the IC for Jan 5. Reversal triggered at lunch time (keep in mind not shorting, just a good place to leg into the IC as momentum finally stalled).
SPY 271.5/275 call spread at 0.28. Position now the 261/257 puts with the calls for 0.21 and 0.28 credits 5 contracts so only $2000 risk.
Could close the put side at profit already but will let the theta work on the IC for a few days/weeks, then roll to next cycle.
Will add a new one Thurs or Friday for Jan 12 expiration. Maybe 1 sided or maybe condor depending on the signals. I think going forward timing is going to be more important for options sellers so will be using the alphashark tools to try and stay on the right side of the market.
That’s all, 2 minute lunch day. Everyone trying to get into the office before the holiday or travelling!
Options Bistro 