#SPX1dte I’m still in the early stages of this strategy, and I’m testing ways to vary things up based on market conditions. IV for Monday’s options is only 6.83%, which I think is the lowest I’ve seen this year. Selling the standard .06 delta condor isn’t worth the risk (too cheap). This is when I have gone LONG in the past with mixed success. Today I’m trying a risk/reversal set-up. Mondays have been bullish lately, and in general the market feels pretty stuck in a range, so I don’t fear a big drop yet.

Bought to open $SPX March 4th 2820/2830 cal spreads for .45 (long delta .06, SPX 2795)
Sold to Open $SPX March 4th 2770/2750 put spreads for .75 (short delta .11, SPX 2796)

If nothing happens, I’ll make .30. But hopefully we’ll have an early rally toward my call spread and I can close for a profit while put spread expires.