jefflsmith 4:21 am on Saturday, April 24, 2021
Tags: IronCondor ( 244 ), spy ( 18 )

SPY Ladder after 74 days…not making money yet….

https://coveredcallswithjeff.wordpress.com/2021/04/24/spy-ladder-more-learning-more-tuition-costs-after-74-days/

Hawk 12:10 pm on Saturday, April 24, 2021

Thanks for sharing. With those longer term IC trades (to me anything longer than a week in this market), if the assumption is the market will grind higher, will ICs slightly skewed to the bullish side help?

Have you thought about using SPX instead SPY? no dividend worries.
jefflsmith 5:54 pm on Saturday, April 24, 2021

I thought about SPX but concerned with the size. It might be a smarter route to go. I have found more information on SPY when researching. Agree on the skew to the bullish side in current market. When I rolled the Puts up it usually leaves me with a call skew after the adjustment.
Most of the traders on the site seem to use SPX and shorter DTE. Planning to do the rolls and follow for three to six months unless it gets expensive. It would be interesting to see a longer term trend of actual results on the short term SPX trades. Individual trades point to success but what happens over time.
- Hawk 6:58 pm on Monday, April 26, 2021
  
  you probably can adjust the wing and # of contracts to have the same capital risk using SPX vs SPY. the part I like about SPX, besides no dividend and cash settle, is the strikes are in $5 increment, which SPY doesn’t have the equivalent $0.5, sometimes could provide a better precise for strike selection.