Jeff 5:30 am on Tuesday, February 6, 2024
Tags: spx0dte ( 421 )

SPX 0-dte

#SPX0dte Sold to Open $SPX Feb 6th 4915/4945/4975 iron butterflys for 15.868, IV 16.62% (ask set for 15.85, but some filled for 15.90)

Small accounts: Sold to Open $SPX Feb 6th 4915/4945-4950/4980 condors for 13.80.

Jeff 6:54 am on Tuesday, February 6, 2024

I got a bad entry on this. SPX in my range and premium now higher. This means I shouldn’t assume premium will be higher at 5:30 than 6:30. The latter would have been a better entry today. Last week’s test resulted in 5:30 better premium every day
- Jeff 6:56 am on Tuesday, February 6, 2024
  
  I actually was a bit off on last comment, we are still 5 points higher than centered, which would be 4945
  - Jeff 7:15 am on Tuesday, February 6, 2024
    
    Ok confirmed now, a bad entry… chain IV keeps going higher although I’m not sure why. Something on the calendar today? Perhaps comments from some FOMC members?
matt0311 7:29 am on Tuesday, February 6, 2024

I really expected a slow decaying day, but no such thing. Trades are under pressure again.

Just realized, it might be people are waiting on some FED speakers who are on deck at 8:00 AM and 11:00 AM PST.
Jeff 8:26 am on Tuesday, February 6, 2024

Closed the IC for 12.30 for 10% profit. IB still running
- Jeff 8:41 am on Tuesday, February 6, 2024
  
  Closed IB for 14.30, so 1.66 profit. Flat for the day.
  - matt0311 8:50 am on Tuesday, February 6, 2024
    
    I also just closed the IC at profit target, I the IF closed prematurely because of the speakers being up. But that trade was also in profit but not at the target. Makes this day a good one.
fuzzballl 9:13 am on Tuesday, February 6, 2024

All week long. Don’t really understand why they even have to “speak”. They mostly contradict each other anyway.
- Jeff 10:06 am on Tuesday, February 6, 2024
  
  Probably simply because someone is paying them to speak at their event, but not sure.
geewhiz112 10:56 am on Tuesday, February 6, 2024

Had the same butterfly ($SPX Feb 6th 4915/4945/4975) but execution skewed so delta was not good. Executed at the open for 16.80 (4.20 on put side). Got out of call side 30 minutes later and just hit profit goal on put side. Profit of 20% of max. Scary to close these piecemeal. I do not recommend that.

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