Jeff 5:40 am on Friday, January 26, 2024
Tags: SPX1dte ( 1,714 )

SPX trades 1/26

#SPX1dte Sold to Open $SPX Jan 26th 4825/4845-4935/4955 condors for 1.25, deltas -.08 +.05, IV 20.3%

Jeff 7:46 am on Friday, January 26, 2024

I paper traded Matt’s 30-pt Iron Butterfly at the 4890 strike, and got my 10% exit before 7:30 PT, so less than an hour in the trade. I also tried with a 5-pt center gap, so shorts at 4890 and 4895, and got a smaller return but 10% exit at the same time.
- Jeff 8:45 am on Friday, January 26, 2024
  
  I should note as well that I first put on the paper trades at 5:26am, an hour before the open and right before the Core PCE Price Index numbers released. That entry got me about 1.30 more in premium than the entry at the open. In that one hour, the market moved up and down but opened at about the same place. It could be that the one hour earlier entry is beneficial, but I’ll continue to test it.
  - Jeff 1:02 pm on Friday, January 26, 2024
    
    Hilarious… the PAPER trade PINNED at the center strike, meaning almost 100% of credit retained. Enough to make me go all in on this strategy! But I won’t yet, still gonna test it and still will be exiting earlier in the day.
    
    My 0-dte condor expired worthless… profit for week 3.35

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