Jeff 11:12 am on Monday, August 2, 2021
Tags: SPX1dte ( 1,714 ), SPX7dteLong ( 350 )

SPX trades

#SPX7dteLong Bought to Open $SPX Aug 6th 4380/4400-4410/4430 condors for 15.50, with SPX at 4398.

Jeff 11:17 am on Monday, August 2, 2021

Sold to close Aug 4th 4420/4400 put sp. eads for 10.50. Condors bought for 15.05 last Thursday. Sticking with a bullish sentiment for the week so I can sell the call side when we are higher.
walter6871 12:51 pm on Monday, August 2, 2021

Jeff,

Are we in a down or up warning?

thanks
Walter
- Jeff 1:03 pm on Monday, August 2, 2021
  
  Neither. Downside Warning got canceled, but no Upside Warning yet.
  - walter6871 1:13 pm on Monday, August 2, 2021
    
    thanks/i knew it was usually on right panel.
Jeff 1:01 pm on Monday, August 2, 2021

Wow, just having a super rough time with this strategy in the last few weeks. It has long been beneficial for me to wait until expiration at times like this morning, when I could have gotten 17.00+ for the 4385/4405 call spread. Usually, we would hover or even drop a bit and the spread would pay 20.00 at expiration. But in last few weeks more than ever before, we get midday drops that kill me. I have been trying to leg out more often, and in fact did sell the put side of this one last week for 3.25. But I’m going to have to get more aggressive with that and forego some profit to avoid bigger losses.

So instead of the 17.00 available this morning, I’m only getting 2.11.

Condors bought for 16.75 last Monday, so loss of 11.39.

#SPX1dte Expiring worthless, Aug 2 4305/4325-4435/4455 condors, sold Friday for 1.00

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