Jeff 11:39 am on Thursday, July 13, 2023
Tags: SPX1dte ( 1,714 )

Removing Upside Risk

#SPX1dte Bought to close $SPX July 14th 4540/4560 call spreads for 1.00. Condors sold this morning for 1.15. I will leave put side to expire. Action decidedly bullish, and Upside Warning may get reinstated tomorrow.

Jeff 11:40 am on Thursday, July 13, 2023

BTC July 13th 4520 calls for .15. Condors sold this morning for 1.00.

No new trade for tomorrow, I will wait for morning.
- Jeff 5:53 am on Friday, July 14, 2023
  
  These were preemptive closures about 90 minutes before the close when my stops had NOT been hit, and they likely saved me from more costly closings when the SPX surged to a high of 4517 about 20 minutes before the close. That was within 3 points of my short strike on the same-day trade and within my stop level for the next-day. This is the kind of move I need to employ more often on days where the trend reveals itself midday. Earlier in the week, we gapped higher then drifted sideways. Yesterday looked to be repeating that, but then started drifting up after midday. When I have a profitable week going I don’t want to let a late-day surge suck it away.