Jeff 5:49 am on Wednesday, July 3, 2024
Tags: spx0dte ( 421 )

SPX 0-dte trades for 7/3

#SPX0dte Sold to Open $SPX July 3rd 5475/5505-5510/5540 condors for 10.05, IV 11.16%

Low premium due to a short day. Overnight action was in a pretty small range. May or may not close before 9:45/10:00 data release. Market closes at 1pm ET.

Jeff 6:40 am on Wednesday, July 3, 2024

Today another example of selling at a bad time, the lull before the open. ATM condor after the open going for over 11.00. It seems the open can really drive these condors lower OR higher pretty quickly. Trick is to figure out which days will be which direction. It may be that when data is coming after the open, the premium will always spike higher, so waiting for the open is the better bet.
- Jeff 8:24 am on Wednesday, July 3, 2024
  
  Stopped out for 14.00. Patience is a fool’s game in an Upside Warning market. I only wanted a buck, but the dips could not get me lower than 9.50. I should have recognized that my condor was placed too low and that the trend would not be my friend.