Jeff 7:01 am on Wednesday, October 2, 2019
Tags: SPX1dte ( 1,714 )

SPX 1-dte stopped

#SPX1dte Stop level was breached quickly this morning. BTC $SPX Oct 2nd 2890/2870 put spreads for 2.95. Condors sold yesterday for .867.Also having to close the Oct 4th spread. Stop was not breached yesterday but it was on the opening tick this morning.

Jeff 9:32 am on Wednesday, October 2, 2019

BTC $SPX Oct 4th 2905/2880 put spreads for 12.50. Sold Monday for 2.40. This one represents an ongoing problem with my trading, one that I have failed to successfully overcome for a couple years now. On days where we continually move much higher or much lower, I seek to get out on a bounce. When I miss my fill, I wait for the next bounce. Sometimes, the move is faded quickly and I end up staying in the trade for a much cheaper exit. But when there is no fade, I get stuck with a big loser.

This one also defied my rules on these +/-4-day spreads: I use half the expected move as a stop. We didn’t get very close to that yesterday, but blew through it at today’s open. Probably the best exit I could have gotten today would be around 7.50. That’s a bit too big of a loss for a 2.40 spread.

I need to review my rules and methods for these spreads.