SPX 1-dte

#SPX1dte Sold to Open $SPX Feb 10th 3980/4000-4155/4175 condors for 1.15.

Stopped out this morning when we opened at the day’s highs and my stop level was hit. Totally unnecessary. In fact, 100% of my stop-outs so far this year were not necessary. Had I gone with no-stop policy, my profits would be about 75% higher. Results from second half of last year are similar.

This year I have made a total of 16.10, but I have paid 12.75 for unnecessary exits.
(I trade one contract per 15K in each account. So 16.10 amounts to a 5.4%- 10.7% return on each account in 40 calendar days)

So I’m going to start a more relaxed approach. If stop level is hit (which is when SPX comes within the day’s expected move of either of my short strikes) I will watch closely and look for a chance to exit cheaply. If that chance does not come or I miss it, I will let it ride. If my strikes are breached, I will watch more closely and consider exiting for a loss.