Jeff 11:24 am on Thursday, July 27, 2023
Tags: SPX1dte ( 1,714 )

SPX stopped

#SPX1dte Bought to close $SPX July 27th 4560/4540 put spreads for 4.00. Major suckage. I was so happy to be up +4.00 on a Wednesday, and it all goes up in smoke on a day I was trying to be careful.

Jeff 11:47 am on Thursday, July 27, 2023

Stopped again, BTC July 28th 4540/4520 put spreads for 5.45. Reversed my 4.00 win to a 5.00 loss on week.
- Jeff 11:50 am on Thursday, July 27, 2023
  
  When a disaster this bad strikes, I sometimes will throw more money in the hole. Bought some July 27th 4515 puts for .50. Only will pay off if this keeps dropping and becomes the start of a correction.
  - Jeff 11:54 am on Thursday, July 27, 2023
    
    My main issue today was that I had a doctor’s appointment. at 10:30. I sold the July 28th spread when it looked market was stabilizing near the 4595 mark. As soon as I got in the car the market started to plunge. As I sat in the doctor’s office I got on my laptop to look for an exit, but before orders were in we dropped from 4570 to 4557 in a flash. Even a quick trip for a checkup only a mile from my house can spell disaster if it is scheduled at the exact time of day the market decides to screw me. Before leaving my desk, I could have waited on the next-day trade and closed the same day puts for safety. Another lesson learned.