Jeff 5:40 am on Thursday, March 7, 2024
Tags: spx0dte ( 421 )

SPX 0-dte 3/7/24

#SPX0dte Sold to Open $SPX Mar 7th 5095/5125-5130/5160 condors for 16.90, IV 19.87%

20-pt winged test trade selling for 13.40

davidm501 6:53 am on Thursday, March 7, 2024

#SPX0dte Sold IRON CONDOR SPX 100 (Weeklys) 7 MAR 24 5145/5175/5140/5010 CALL/PUT @15.55 LMT @9:39
Wishing I had waited a few minutes, I would have dropped it $5 lower.
- Jeff 7:14 am on Thursday, March 7, 2024
  
  Waiting for the open benefited you. I got in an hour earlier but pre market raised, without any drop in chain IV. So my center is too low and I’ll need another dip to profit. The first dip didn’t achieve 10%. You are centered perfectly now. Given that Powell is testifying again today, I should have waited for the open.
- Jeff 7:22 am on Thursday, March 7, 2024
  
  stop limit At 18% 20.05/20.40
  
  What does the above quote mean? Does it mean the order is submitted if mid price hits 20.05, and the order is a LIMIT order at 20.40? So you would be filled at 20.40?
  - davidm501 7:44 am on Thursday, March 7, 2024
    
    20.40 or better. And if it is above that it would not be filled. I have never used these on an SPX IC, not sure how well it will work. I believe that Tasty will not do a stop market on an IC, has to be stop limit. I have an alert set so i can check on it. My trades are in Tasty and my alerts are in TOS. For some reason the prices are way off today, never seen that before after the market is open.
    - davidm501 7:45 am on Thursday, March 7, 2024
      
      Today’s stop limit is 18.35/18.65
      - davidm501 8:20 am on Thursday, March 7, 2024
        
        Figured out why the Tasty/TOS prices were off, as expected it was me. Typo.
        trade was 5145/5175/5140/5110
        My rules still have me dropping to .75% profit if I am still in @10:30. I suspect I’ll modify that at some point, at least when I am able to watch the screen. Today was not a day I could watch. Dropped the limit order to $14.40 as I needed to join a meeting. Hit at 11:03. $115 profit.
        
        Would have been out with full profit by now.
Jeff 7:32 am on Thursday, March 7, 2024

Stopped out for 19.30, -2.30 loss. I waited for the spread price to hit 20.00 to trigger a stop, then entered a limit order for stop-loss. This loss would be totally fine had I not royally screwed myself on Tuesday. Still so frustrated about that, and determined to not let it happen again.

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