Jeff 5:27 am on Friday, May 24, 2024
Tags: spx0dte ( 421 )

SPX 0-dte 5/24/24

#SPX0dte Sold to Open $SPX May 24th 5210/5230-5320/5340 condors for 1.10, IV 18.04%, deltas -.07, +.07

Switching to a wide condor after yesterday’s move and economic data coming today.

Jeff 7:42 am on Friday, May 24, 2024

Sold May 24th 5270/5290-5300/5320 condors for 9.00. This has a 10-pt center and 20-pt wings. Going for 7.50, but will take less if we get much out of the center range
- Jeff 8:05 am on Friday, May 24, 2024
  
  Clearly an error. Market still too swingy, I’m getting stopped out on BOTH trades
  - Jeff 8:27 am on Friday, May 24, 2024
    
    Stopped out on the 1.10 wide condor for 2.60.
    Stopped out on 9.00 narrow condor, CALL SIDE only for 10.00. I’m risking the 5290/5270 put side staying open to expire.
    
    Should have trusted my instinct that we would bounce heartily from yesterday. My long position for May 29th is benefiting from this, but the neutral intraday trades were a mistake.
    - Jeff 12:11 pm on Friday, May 24, 2024
      
      Had to close puts for 1.25…. crappy week, lost a bit more than I won last week. And it was the inverse… last week I made all the money on Thursday/Friday. This week I lost all the money on those two days. I was up over 3.00 at end of Wednesday, and with the huge overnight move I probably should have taken Thurs off, or at least traded more cautiously. I tend to push for a profit every day, but need to consider stepping back more often.

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