Converted SPX Jan28 2625/2620 put side to Jan28 2630/2625/2620 fly @ 1.55. With credit received on IC, net debit is 1.05 per lot x6. This either locks in a loss or a possible profit if SPX closes between 2625 and 2630. Decision made on breach of 2625 level and then waited for bounce to enter.
Defending every other trade is getting old so will probably stay on sidelines or use long ICs as @jeffcp66 is doing. All depends on the HV/IV ratio on SPX after today.