Jeff 6:34 am on Tuesday, March 12, 2024
Tags: spx0dte ( 421 )

SPX 0-dte 3/12/24

#SPX0dte At 6:33a, Sold to Open $SPX Mar 12th 5110/5140-5145/5175 condors for 17.40, IV 23.67%

20-winged test trade went for 13.85

Jeff 6:48 am on Tuesday, March 12, 2024

Worst possible entry… I entered at very top of the day. I have hit a -4.00 stop so I am stopping out manually, hopefully for less.
- Jeff 6:56 am on Tuesday, March 12, 2024
  
  I may be getting lucky. I closed HALF for 19.00.
  
  This would be a loss, but I have benefitied from fat fingers. I set an order to stop out but mistakenly hit SELL rather than BUY, so doubled up… my second batch was sold for 21.293, so this first half closed is a PROFIT of 2.293.
  
  Looks like this bounce means I can also profit on first batch.
  
  Big W this morning for FAT FINGERS.
  - Jeff 8:02 am on Tuesday, March 12, 2024
    
    Missed my chance to close for breakeven… there was no IV reduction so even though index was dead centered on my condor, no profit available. Then we flew to upside.
    
    Stopped for 20.75 so -3.35 loss. Coupled with my mistake-win earlier it is -1.06 loss for the day.
    
    These swings confirm the importance of a rule I once set and have since broken: DON’T TRADE ON CPI or FED ANNOUNCEMENT DAYS. Not only are these swings too big for this strategy, but the IV drop does not come until later in the day.
    
    So next Wednesday is a holiday for me (FOMC decision).
    - matt0311 12:12 pm on Tuesday, March 12, 2024
      
      Absolutely, these days are no good for decay. BTW Friday should be 4x witching, another day for me to have a rest for this type of trade.
davidm501 6:53 am on Tuesday, March 12, 2024

SELL -1 IRON CONDOR SPX 100 (Weeklys) 12 MAR 24 5125/5155/5120/5090 CALL/PUT @19.45 LMT @9:44
I need to leave my screen for a while this AM so i set my profit target at 7.5 %
Bracket order:
Limit: 18.00 Stop:Stop limit: 23/23.40
- davidm501 7:28 am on Tuesday, March 12, 2024
  
  Not so lucky. Stop hit for $390 loss.
  - Jeff 11:46 am on Tuesday, March 12, 2024
    
    Did anyone see what kind of profit was available during the dip between 9:45 & 10:15 PT?

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