Jeff 8:46 pm on Tuesday, July 16, 2024
Tags: spx0dte ( 421 )

SPX 0-dte trades for 7/17/24

#SPX0dte Sold to open $SPX July 17th 5630/5660-5665/5695 condors for 17.05, IV 12.67%, at 11:44p ET

Bought to open 5585/5605-5710/5730 condors for .95, delta -.05 +.04

Jeff 5:28 am on Wednesday, July 17, 2024

With large downside move the total position is at -4.00 about 70 minutes before the open. It looks as if 3-5.00 in the red to be expected if overnight move is 30 points or more. My dilemma now is the exit plan. If we end the day down 82 points or more from yesterday, my spreads will expire at max loss/max profit, leaving me a net +6.00 winner. But there’s a large range of max loss of -14.00. So I need to either eat the -4.00 now or soon after open, or try to play swings, which could bite me for more.

I am thinking it might be better to play this with a $2 auto-stop on the tight spread overnight, to avoid the large moves and then grab profit of long spread later. This would often result in being stopped out in peaks and valleys, and not getting the profit on the long spread. But with only $2 of loss it might be preferable than what I face this morning.
- Jeff 6:20 am on Wednesday, July 17, 2024
  
  I dumped out…. tried to play a little bit of swing, but ended up closing both trades at about the same spot.
  Sold to close long put spread for 6.30, so +5.35
  Bought to close short put spread for 25.30, so -8.25
  
  -2.90 on the day. Not sure if I will try anything else. Maybe OTM long options for cheap in case we really dump or bounce strong.
  - Jeff 9:44 am on Wednesday, July 17, 2024
    
    Earlier bought to open $SPX July 17th 5570/5555 put spreads for .70. Currently at about 1.70… would like to see us drop all the way to my strike but watching now to see if a bottom might form. $VIX and $TICK tell me we might keep going down. NDX and RUT also going down, but divergence in Dow which is up on day and trending higher.
    - Jeff 2:37 pm on Wednesday, July 17, 2024
      
      Zilch!

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