Jeff 7:43 am on Wednesday, November 17, 2021
Tags: SPX1dte ( 1,714 ), SPX5dte ( 109 )

SPX trades

#SPX5dte Sold to close $SPX Nov 17th 4655/4675 call spreads for 19.00. Condors bought for 16.25 last Thursday.

Steve 7:59 am on Wednesday, November 17, 2021

Hi Jeff….I’ve been watching you working with these 5dte trades and I’m wondering what is your rule for setting a stop loss ?
- Jeff 11:38 am on Wednesday, November 17, 2021
  
  It’s difficult to pin down exit rules on this strategy because your fortunes can change so quickly. An afternoon move of 20 points on SPX is not unusual, but it could change what you were expecting to be max profit turn into a full loss. I usually start watching for an exit 3 days before expiry. I may decide to wait for expiration if I feel it is safe, or take partial profit if I am not. Today, for instance, I was hoping for expiration and max profit, but when the market opened down and showed some weakness, I chose not to risk it and gave up a dollar of profit to exit for 19.00.
  - Steve 12:08 pm on Wednesday, November 17, 2021
    
    Good call….timing is a big factor I’m finding out in hindsight. You bought your 17th condor on the 11th – I waited until the 12th and bought $30 above you – you will make good money, I’m getting crushed !
Addy 9:10 am on Wednesday, November 17, 2021

I wish you doing well .
I was away for a long time. Trying to come back but I need to familiarize myself with what is going on these days.

Kind Regards,

Addy
Jeff 12:03 pm on Wednesday, November 17, 2021

#SPX1dte expiring: 4655/4635-4740/4760 condors, sold yesterday for .95.

Note: with the Thursday holiday next week and an extra expiration (Tue, Nov 30) the week after, I will be buying #SPX5dte condors for the next 5 trading days in a row.

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