#SPX1dte As yesterday’s trades expired worthless I am at +4.00 for the week, exceeding my $3 target. I did not want to risk that by selling a condor the evening after the Fed decision, which often triggers an overnight move. Sure enough, the market rose overnight and has now shown more strength after economic news.

Although we may be too toppy to continue higher today, I am still entering a bullish trade. I had to go with a pretty wide delta disparity to avoid paying a high debit.

Sold to Open $SPX July 27th 4560/4540 put spreads, delta -.15
Bought to Open July 27th 4635/4655 call spreads, delta +.05
Total DEBIT -.45, IV 17.8%

I don’t expect to reach the short call strike but getting close would allow for 2.00 to 4.00 in profit.