jsd501 10:17 am on Thursday, March 16, 2023

STO SPX 4000/4020 call spread…

STO SPX 4000/4020 call spread at .50 cents in my IRA for a small trade for expiration today.

Jeff 10:23 am on Thursday, March 16, 2023

Date?
- fuzzballl 10:33 am on Thursday, March 16, 2023
  
  Looks like it would have to be today based on the premium received. Even tomorrow AM is still at about 1.75.
Jeff 10:37 am on Thursday, March 16, 2023

Yes, same day, good trade. I’m going to get out of my 3970 call side; this volatility could mean a huge pop on any news, but very doubtful will reach 4000.
- jsd501 10:42 am on Thursday, March 16, 2023
  
  I only have a small position at the 3970 strike so I am going to stay with it. It is making me nervous though
  - jsd501 10:55 am on Thursday, March 16, 2023
    
    I took my small loss of .55 cents on the 3970/3990 call spread. I am still short the 3745/3765 put side.
    - Jeff 11:10 am on Thursday, March 16, 2023
      
      I think stopping like we did will end up being unnecessary a majority of the time, but it is prudent in this environment. It takes several .50 to 3.00 losses before you get to a 19.00 loss that would result if your spread is completely blown through (like last Thursday). If this were two weeks ago, I would have let it ride. But we just saw how the First Republic news popped us up quickly. If they announce an hour from now they have reached that agreement, it will pop again.
      - jsd501 11:29 am on Thursday, March 16, 2023
        
        Yes, first loss is your least loss and I have had a good month so far which I don’t want to give back.

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