Jeff 5:38 am on Wednesday, August 28, 2024
Tags: protectprofits ( 12 ), spx0dte ( 421 )

SPX 0-dte for 8/28/24

#SPX0dte Sold to Open $SPX Aug 28th 5555/5575-5665/5685 condors for 1.10, IV 17.56%, deltas -.06 +.06

#protectprofits

Jeff 7:19 am on Wednesday, August 28, 2024

Sold 5585/5615-5620/5650 condors for 13.65, IV 15.60%. Third day in a row selling these strikes, but this is earliest entry time in awhile.
- Jeff 8:28 am on Wednesday, August 28, 2024
  
  First big mistake in awhile…. failed to get out right after stop hit, now my week’s profits getting blown away
  
  Closed put side of wide condor for 2.80.
  
  Now I will watch the likely bounce in spite
  - Jeff 8:38 am on Wednesday, August 28, 2024
    
    Out of tight condor for 18.50.
    
    I am glad this was a mistake rather than a fault in my strategy. After stop hit at 5602, had a nice bounce back to 5606 where i could have taken only a .50 loss. But I failed to #protectprofits and fell into despair. Nice gain for the week converted into almost equal-sized loss.

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