Jeff 5:19 am on Tuesday, March 19, 2024
Tags: spx0dte ( 421 ), SPX1dte ( 1,714 )

SPX 0-dte 3/19/24

#SPX0dte Given the 30-point move in the last 4 hours and also IV at over 20%, I’m going to wait for the open.

davidm501 5:49 am on Tuesday, March 19, 2024

I have a 1/2 hour meeting @ 9:30 Eastern and may end up not trading this today.
Jeff 6:45 am on Tuesday, March 19, 2024

@9:43 ET, Sold to Open $SPX Mar 19th 5100/5130-5135/5165 condors for 16.15, IV 19.94%

20-winged test going for 13.05
- Jeff 7:26 am on Tuesday, March 19, 2024
  
  10% hit around 10:20, not closing yet
davidm501 7:05 am on Tuesday, March 19, 2024

@ 10:00 SELL -1 IRON CONDOR SPX 100 (Weeklys) 19 MAR 24 5140/5170/5135/5105 CALL/PUT @14.70
Bracket:
Limit: 13.20
Stop/Limit: 17.35/17.60
- Jeff 8:38 am on Tuesday, March 19, 2024
  
  I have found myself in this position too often. 10% seems to be almost a magical level that is very often attained; but moving much beyond 10% causes probability to plummet. I’m going to need to set a 10% rule from now until further notice.
  
  Facing a loss today after passing up chance to take profits. I think it got to about 12% profit before moving higher. I was going for 15%
  - Jeff 8:55 am on Tuesday, March 19, 2024
    
    Closed for 17.00, so loss of -.85
- davidm501 8:41 am on Tuesday, March 19, 2024
  
  Stopped out @17.60, $290 loss. I seriously considered moving my stop to the $100 gain point when I had the chance. That may be a new rule.
  - Jeff 9:11 am on Tuesday, March 19, 2024
    
    If you are present at your computer, do you consider taking off the bracket order and closing manually? Almost every time my stop level is hit I have been able to exit at a much lower price. Today mine got as high at 18.80 but was able to get out at 17.00.
    - davidm501 9:41 am on Tuesday, March 19, 2024
      
      I have not tried that and probably will not. I have found that I am not disciplined enough to use manual stops, I watch it and keep thinking it is going to turn. The only time I have moved the stop was to lock in a gain. As mentioned above, I may start doing that as a rule.
      I am concerned that I may have locked onto trying to make this work when it might not be my best option, but I am going to stick with it a bit longer to see if i can get it to work consistently.
      - Jeff 9:47 am on Tuesday, March 19, 2024
        
        Ok, yes, I can agree. There have been times manual stops have worked against me in that way. I think maybe my discipline with them has been a bit better lately. Now I need to work on the 10% discipline.

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