Jeff 7:22 am on Friday, January 4, 2019
Tags: SPX1dte ( 1,714 )

SPX 1-dte closed

#SPX1dte SPX hit my upside stop (expected move breached the 2520 short calls), so I exited on the pull back.

BTC $SPX Jan 4th 2520/2540 call spreads for 1.70. Condors sold yesterday for 1.25. Puts will expire, or close for .05.

I’ll be selling another 1-dte for Monday expiration. I’m looking for longer term roll options to replace today’s stop.

Jeff 7:32 am on Friday, January 4, 2019

Whew… got out in the nick of time. Now 6.50 to exit.
- john4419 7:34 am on Friday, January 4, 2019
  
  Tell me about it, got slaughtered on this one! As you can see now pulling back…………wonder why, must be as I closed at the top.
  - Jeff 10:04 am on Friday, January 4, 2019
    
    I refuse to be slaughtered again, after that happened twice before. This could have been exited for around 2.30 the first time the stop was breached. I waited, and saw it get above 3.00. I kind of draw the line at 3.00, and must get out then. So I started riding the limit order, and was able to notch my price down as we got the pullback.
    
    If the stop is hit. Don’t look away until you are OUT of the trade. Be aggressive if necessary.
    
    My mistake today: I didn’t remember that Powell was speaking. I probably would have closed for 1.50-1.70 at the open had I checked the schedule.
    - john4419 10:14 am on Friday, January 4, 2019
      
      Turned away and it ran away! no excuse I just acted dumb and believed it would come back down.
      - Jeff 10:25 am on Friday, January 4, 2019
        
        I know… that ALMOST happened to me, but fortunately my order filled while I was distracted by emails. Gotta shut everything else out and watch if stop is breached.
        
        john4419 10:27 am on Friday, January 4, 2019
        
        Do you use a physical stop? reason I ask is I can’t do that with Schwab Edge.
        
        Jeff 10:42 am on Friday, January 4, 2019
        
        No, I almost never use stop orders. I exit manually.