Jeff 5:44 am on Wednesday, January 31, 2024
Tags: SPX1dte ( 1,714 )

SPX 1-dte

#SPX1dte Not trade until after the Fed announcement

I did put on paper trades for the IB and 5-pt wide IC strategies, this time with both 30-point and 40-point wings.

Jeff 8:07 am on Wednesday, January 31, 2024

I have a total of 6 paper trades. Using a 20% of max profit as a STOP LOSS, only the 5:30am Condor trade was stopped out at the lows. This was the 4865/4905-4910/4950 sold for 22.40, stopped out at 7:44am for 26.90, a 4.50 loss.

The other 5 survived the lows so far. The 6:30 are centered at 4900 so have weathered the lows better than the 5:30 trades.
- matt0311 8:50 am on Wednesday, January 31, 2024
  
  Since the opening, the expected move of SPX has hardly changed from Tastyworks 26 to now 26.28. That is going as expected and the IF pinned at 4,900 is in the minus, I opened the P-Trade just after the open.
  - matt0311 12:35 pm on Wednesday, January 31, 2024
    
    There was no shelter after that release. the 2x stop wasn’t hit and there was a very short instant that triggered the target profit, that was totally random. Clearly not a good day to trade any of these SPX strategies.
- Jeff 11:48 am on Wednesday, January 31, 2024
  
  All the paper trades got close to breakeven before the announcement and had they been real trades I would have closed them then. Too much risk. After the announcement, they all got pretty close to 20% stop point at the lows. Then they all hit the 10% profit target on the spike up past 4900.
  
  Best bet: avoid these trades on days when you know an event will create volatility, or during corrections when big swings are happening daily.
Jeff 12:23 pm on Wednesday, January 31, 2024

Too much volatility during the presser, I’m not placing a trade.

Leave a Reply Cancel reply

s: search
c: compose new post
r: reply
e: edit
t: go to top
j: go to the next post or comment
k: go to the previous post or comment
o: toggle comment visibility
esc: cancel edit post or comment