Jeff 5:38 am on Monday, January 8, 2024
Tags: SPX1dte ( 1,714 )

SPX trades 1/8

#SPX1dte Sold to Open $SPX 4645/4660-4740/4755 condors for .80, deltas -.06 +.05, IV 17.7%

This is 15-wide wings, not my usual 20. For some reason I got “invalid order” when I tried it with the 4640 & 4760 long options, so perhaps one of them isn’t offered. Due to the lower risk with 150wide, I increased my position size by about a third.

Jeff 10:28 am on Monday, January 8, 2024

Stop was first hit before 8am Pacific time, but didn’t pullback enough to fill my unaggressive order. Now looking for a pullback, but should have stopped out earlier.
- Jeff 11:24 am on Monday, January 8, 2024
  
  Finally exited for 4.50. I’m pretty angry about this. On Friday I stopped out responsibly when upside stop was hit. Then I got smashed on downside with a chunky reversal. Then day ended flat, meaning none of the stops were necessary.
  
  That experience affected my decision today, thinking we would not keep going higher. And there was my error. It’s so frustrating that I still make these mistakes. I cannot be frustrated that the market lulls me into false senses of security. I must accept this is my mistake, made all the more stupid by the fact that I’ve done this WAY too long to make these errors.