Jeff 5:31 am on Monday, January 29, 2024
Tags: SPX1dte ( 1,714 )

SPX trades 1/29

#SPX1dte Sold to Open $SPX Jan 29th 4835/4855-4925/4945 condors for 1.20, deltas -.09 +.07 IV 16.4%

A bit aggressive on deltas for what have been quiet Mondays lately.

Jeff 7:36 am on Monday, January 29, 2024

On second day of testing 0-dte Iron Butterfly, all test positions achieved 10% goal before an hour into the market. This includes 5:30am and 6:31am positions, and the ones centered on 4890 along with those with a 5-point gap in the middle.
Jeff 12:41 pm on Monday, January 29, 2024

STOPPED out of call side for 1.60. I let it ride too much, so slap on the hand for me again. Fortunately got pull back after it got as high as 5.00.
- Jeff 12:44 pm on Monday, January 29, 2024
  
  Another clear sign i need to be closing the tighter side for .10. Plenty of chance to do this after it became clear it would be an UP day. Also, this is more evidence that switching to the Iron Butterfly strategy is a clear choice. In quiet/bullish periods like now, IB probably trump IC. In volatile times, IC’s may be the safer choice but I’ll still want to test IB’s.