Jeff 5:26 am on Tuesday, May 7, 2024
Tags: spx0dte ( 421 )

SPX 0-dte trades 5/7/24

#SPX0dte Sold to Open $SPX May 7th 5150/5180-5185/5215 condors for 13.45, IV 16.23%, at 8:24 ET

Jeff 6:51 am on Tuesday, May 7, 2024

Stopped out for 14.80, so 1.35 loss. The 20% stop was hit 2 minutes after the open. Today was an example of low IV going up 3% between 8:30 and 9:30. Combined with a move higher this stopped me out. Good news is I have two long positions in profit now. Trick is deciding when to take profits.
- Jeff 7:14 am on Tuesday, May 7, 2024
  
  Sold May 7th 5135/5155-5220/5240 condors for .90, deltas -.09 +.05
  - Jeff 9:51 am on Tuesday, May 7, 2024
    
    Call side closed for .15
    - Jeff 12:00 pm on Tuesday, May 7, 2024
      
      Put side closed for .10
- matt0311 7:57 am on Tuesday, May 7, 2024
  
  I wish I hadn’t but early at the start, I took 2.60.
  - Jeff 7:58 am on Tuesday, May 7, 2024
    
    @matt0311, What trade are you referring to?
    - matt0311 8:11 am on Tuesday, May 7, 2024
      
      The reverse trade, sorry.
      
      I did follow you on the IC as well. There I was stricter with my stops this time and held out for a while. Just about 7:50 PT was I able to close very slightly in the plus for .45.
      - Jeff 5:31 am on Wednesday, May 8, 2024
        
        Turned out to be the right call, good job. I’ll be entering a new R/R on today’s pullback.

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