Jeff 5:37 am on Tuesday, October 10, 2023
Tags: SPX1dte ( 1,714 )

SPX part 2

#SPX1dte. Doubling down today. I know, I know, I’ve sworn off pushing boundaries… but I definitely need some catch-up premium in this slump.

Sold to Open $SPX Oct 10th 4260/4280-4385/4405 condors for 1.00, deltas -.05 +.05, IV 25.6%

IV higher in the AM than when I sold yesterday afternoon, as usual. This means I got same premium for a condor that is not much narrower. I will be looking to close one of the legs on each side as soon as premium drops.

walter6871 5:47 am on Tuesday, October 10, 2023

are you targeting lower IV or just this one time?
- Jeff 6:11 am on Tuesday, October 10, 2023
  
  I feel because of Thursday’s CPI report, the market has a decent chance of going sideways today and tomorrow. So doubling down is a little less risky. That said, we still have the conflict in Israel and bond market volatility. The market is really focused on interest rates so I think Thursday may be what traders are waiting for. I won’t be trading that day (I will be traveling anyway).