Jeff 10:24 am on Tuesday, June 27, 2023
Tags: RiskReversal ( 86 ), SPX1dte ( 1,714 )

SPX partial

#SPX1dte Sold to close HALF of position: $SPX Jun 27th 4380/4400 call spreads for 2.00. Condors bought yesterday for .85. Holding second half to see if I can grab a juicier price.

#riskreversal

Jeff 12:28 pm on Tuesday, June 27, 2023

Sold next batch for 3.45. Holding 1 contract in each of three accounts for a possible final push.
- Jeff 3:39 pm on Tuesday, June 27, 2023
  
  Left the last contracts to fate, and alas, they expired worthless.
  
  This is a much tougher game than being short. The highest tick I saw for this spread was 5.00. It would have been great to sell my whole lot for 5.00. There’s just no way to know if I’ll get a chance at 10.00, or the whole thing will collapse in seconds. As it was, my average exit price was 2.15 for the whole position, so 1.30 profit given the position was entered for -0.85.
  
  I think I need to do better than that to sustain profits on a long strategy. I’m thinking the best approach is a majority short strategy, occasionally switching to long based on market sentiment and also adding additional longs, like the #RiskReversal I currently have expiring Friday.