#SPX0dte Sold to Open $SPX May 10th 5180/5200-5265/5285 condors for 1.35, IV 15.65%, deltas -.11, +.07

This is much more aggressive than usual. My thinking is we are pretty stretched to upside and that we’ll go higher but not THIS much past all-time highs today. But if we do, my long 5160/5180 call spread for May 14th will be making up for any stop loss for today. As for downside, I don’t see a dip happening today.

I will likely take profits on HALF of the long spread today, currently +4.50 in black. Sure enough, the May 10th spread that I took 1.10 in profit on yesterday is over 4.00 this morning.