Jeff 9:49 am on Monday, June 11, 2018
Tags: CondorRoll ( 191 ), SPXcampaign ( 2,265 ), VIXIndicator ( 294 )

SPX trades

#SPXcampaign As I posted on Friday I am scaling back on this strategy, at least until I can clear the decks and regroup.

I’ve decided to sell half my normal amounts for the time being. I will however, add extra longs when we get an Upside Warning.

Today my stop levels were breached on my remaining call spreads… although I did add a new one this morning. Last week I stopped several calls and added a couple ATM put spreads, which are helping recoup a chunk of change.

Sold $SPX July 13th 2870/2895 call spreads for 1.65
Closed on GTC order: $SPX June 15th 2700/2675 put spreads for .40. Sold for 5.25 on May 24th.

Looking to close call spreads on any pullback, will post below.

#condorroll, #vixindicator

Addy 9:57 am on Monday, June 11, 2018

Your strategy is fantastic and worked beautifully for me, and I think for all of us. It is just SPX extended upwards for past months making BeCS difficult to win. Until SPX settle down, BeCS is risky.
- Jeff 10:00 am on Monday, June 11, 2018
  
  Yes, but this has happened a few times over the past 18 months. 2015 and 2016 worked well, then the call side just became too difficult to manage. And then in 2018 we’ve added more extreme volatility, meaning that even though the market has been going higher since February lows, it is not at all smooth.
  - Addy 10:13 am on Monday, June 11, 2018
    
    Agree with you. I had many successful BeCS trades before.
    Once SPX settle down, the BeCS will work again.
Jeff 11:39 am on Monday, June 11, 2018

Closed these, so I now only have one short call spread (July 13th sold this morning)

$SPX July 6th 2830/2855 call spreads for 5.10. Sold last Wednesday for 1.65.
$SPX June 15th 2785/2810 call spreads for 10.40. Sold last week in a #CondorRoll for 6.70.

Sold SPX June 22nd 2780/2755 put spreads for 6.25.

It’s odd for me to be selling ATM put spreads while we’re still under a Downside Warning. But this year so far has been unlike any other in terms of the #VIXIndicator. Part of the reason I’m stepping back for a new look.