Jeff 5:32 am on Friday, April 19, 2024
Tags: spx0dte ( 421 )

SPX 0-dte trades for 4/19/24

#SPX0dte So major dip overnight due to Israel/Iran, but now futures are flat. Had I had a sell order in place I may have gotten a fill on my long put spread. Now we are rallying pretty strongly so I’m going to wait for the open to consider a condor.

Jeff 5:45 am on Friday, April 19, 2024

Changed my mind, sold to open $SPX Apr 19th 4905/4925-5085/5105 condors for 1.25, deltas -.06 +.07, IV 34.38% at 8:44 ET
- Jeff 9:02 am on Friday, April 19, 2024
  
  Closed put side for .35. Only a tiny profit for the week. Rooting for a total collapse now so I can get some profit on my long put spread.
Jeff 6:53 am on Friday, April 19, 2024

Running a TEST on the ATM condor: 4975/5005-5010/5040 condors at the open were at 20.50 and have not dropped at all in the first 21 minutes, even though at the moment we are dead even with the open. Demonstrates the difficulty of that strategy in a volatile market.
- Jeff 7:29 am on Friday, April 19, 2024
  
  There’s about a dollar of profit in the TEST trade now even though we are 15 points below the midpoint. I would probably take it, as the drop could continue.
  - Jeff 7:32 am on Friday, April 19, 2024
    
    And then right after I wrote that, a spike up generated the 10% profit. IV has not dropped much but we still dropped $2 on the spread price, so perhaps there’s still some promise in these trades even in volatility. And it probably helps that there are no further events planned for the day.