Jeff 5:48 am on Thursday, April 11, 2024
Tags: spx0dte ( 421 )

SPX 0-dte trades 4/11/24

#SPX0dte Sold to Open $SPX Apr 11th 5130/5160-5165/5195 condors for 19.70, IV 27.98%, at 8:47 ET

davidm501 7:01 am on Thursday, April 11, 2024

@ 9:46 SELL -1 IRON CONDOR SPX 100 (Weeklys) 11 APR 24 5165/5195/5160/5130 CALL/PUT @19.50 LMT, IV 26.78%

bracket to close:
limit: 17.55
stop/limit: 23/23.15

My wired internet is down due to a down cable with time to repair 4/18 to 4/21, hopefully that will change. Running off my hot spot makes me a little nervous.
Jeff 7:30 am on Thursday, April 11, 2024

Stopped out for 20.20…. not comfortable with the drop so took a small loss. Will consider a new trade if things stabilize.
- Jeff 7:49 am on Thursday, April 11, 2024
  
  Damn… I get out of the way of a drop and it doesn’t happen. My previous profit target is now being hit.
  - Jeff 8:08 am on Thursday, April 11, 2024
    
    ROUND 2: Sold $SPX Apr 11th 5120/5150-5155/5185 condors for 17.40, IV 26.30%
- davidm501 7:59 am on Thursday, April 11, 2024
  
  Dropped my price, out @ 17.85 for a $165 gain
matt0311 8:45 am on Thursday, April 11, 2024

Went a slightly different route: @ 9.57 opened a wider 5120/5150/5170/5200 as the expected moves were so high. Collected still 15.05. and it was of course just minutes before that big drop, but I stuck with my stop-loss at about 20%. Still in it.
- matt0311 9:04 am on Thursday, April 11, 2024
  
  out at @11:58 for 12, that worked well.
  - Jeff 5:59 am on Monday, April 15, 2024
    
    I missed this until now… nice job on the trade. This turned out to be a horrible day for me, but if I hadn’t got spooked by the dip and stuck to my stop loss, it would have been a winner. As usual, it’s my mistakes that trip me up more than the market. But I’m impressed with your safety move of going 20-wide.
Jeff 10:26 am on Thursday, April 11, 2024

Out for 24.70. Major loss this week, I got torn up. Had I stuck to my first trade I would have had a double exit and would be flat for the week. Instead, I got stuck in a second trade and couldn’t get out before Bond Auction, which of course went against me.

I don’t know what else to do here. I seem to make mistakes too often and they always go against me. Last week was a small gain with no mistakes. This week is a large loss with multiple mistakes. Two weeks ago was my biggest gain ever, but it was a very calm and easy week.

I may be switching back to 6-delta condor strategy since we are now in a clearly more volatile market. It is just so frustrating that I cannot regain my footing for almost a full year now.
- Jeff 10:27 am on Thursday, April 11, 2024
  
  Note: I only closed the call side as the put side is such low risk that I didn’t need to waste the extra buck to close it.
- davidm501 12:55 pm on Thursday, April 11, 2024
  
  Sorry to hear that you are having a rough year. I am certainly not convinced that this is the trade I ought to be using but I’ll probably stick with it for a bit while I sort out my rules .