#SPXcampaign Bought to close $SPX Nov 12th 2730/2710 put spread for 1.20, breakeven covering commissions of the condor sold for 1.25 on Friday. I was trying to change my order for a lower price, but it drops so quickly on the tiniest of bounces that it grabbed my bid before I could change it.
I’ve been discussing these trades with some people today and comparing performance. I think one of my weak spots is entering these trades too late in the day, and also after a bounce has already dropped volatility dramatically. I believe if I had entered this condor an hour earlier on Friday, I could have been 20 or 30 points farther out of the money. I’ll be watching this closely for a good entry tomorrow for Wednesday expiration.