Jeff 5:31 am on Monday, February 12, 2024
Tags: IronButterfly ( 141 ), spx0dte ( 421 )

SPX 0-dte

#SPX0dte Sold to Open $SPX Feb 12th 4995/5025/5055 #IronButterfly for 14.90, IV 15.23%

Small account alt: 4995/5025-5030/5060 condors for 12.80

Jeff 7:02 am on Monday, February 12, 2024

IC 10% hit at 7:02am. Letting it ride.
matt0311 7:06 am on Monday, February 12, 2024

Closed the IF at target 10%, got in at 14.75. Looks at this time to be a quiet day, will see how the other trade will go. I had a slightly different bias and went with 4990/5020/5025/5055.
- Jeff 7:10 am on Monday, February 12, 2024
  
  My IB hit 10% at 7:07am but letting it ride. I think market is waiting for tomorrow’s CPI report to move.
- matt0311 7:33 am on Monday, February 12, 2024
  
  Closed the IC for 15% target.
- Jeff 8:27 am on Monday, February 12, 2024
  
  Waiting didn’t work today, I’m going to take a loss
  - Jeff 9:09 am on Monday, February 12, 2024
    
    This is good lesson learned… I saw it starting to trend up (rather than sideways) when there was still plenty of profit available. I need to narrow my standards for “letting it ride.”
    - Jeff 10:27 am on Monday, February 12, 2024
      
      Closed IC for 14.80, so 2.00 loss
      Closed IB for 19.00, so 4.10 loss
      
      Lesson learned
      - Jeff 10:39 am on Monday, February 12, 2024
        
        Damn I tried to wait for this collapse but lost faith it would happen. Once again could have won big had I waited.
- matt0311 12:37 pm on Monday, February 12, 2024
  
  It was not a quiet day after all. Right now, everything would be very profitable, but there were times the trades were down by 8 or 9 $. I see how important it is to stay at, or at least near, to your profit targets to be able to close as soon as possible. The volatility picked up between 8:00 AM and 8:30 AM, well after targets had been reached.
  - Jeff 4:31 pm on Monday, February 12, 2024
    
    Very irritating day, but it was wholly because I didn’t exit once the spike up began earnest.
  - Jeff 5:04 pm on Monday, February 12, 2024
    
    It so far is definitely working. Last Monday was only definite day it didn’t work. Wednesday is a close one to call, because of the Fed speaker. Today was an easy win for the 10% threshold, even though I screwed it up.
    
    Also, I checked at the close, the price for the ATM IB for Tuesday was over 21.00, meaning 9.00 of risk. That might be a decent risk to take if this strategy is able to produce 4-12 per week. I am hoping for that to become the range but it’s too early to tell.
  - geewhiz112 7:03 pm on Monday, February 12, 2024
    
    I took the IB for 12.60 at 9:47. Out all day so placed a close at 10% profit order. It executed at 10:34. If I was watching today’s gyrations I probably would have closed for a loss during the uptrend. I think I prefer placing a closing order vis a vis a mental stop. My discipline sometimes not good.

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