Jeff 5:41 am on Thursday, August 29, 2024
Tags: spx0dte ( 421 )

SPX 0-dte for 8/29/24

#SPX0dte Sold to Open $SPX 5510/5530-5670/5690 condors for 1.10, IV 26.10%, deltas -.06 +.04

Jeff 8:21 am on Thursday, August 29, 2024

Sold 5600/5630-5635/5665 condors for 15.40, IV 21.12%
- Jeff 8:57 am on Thursday, August 29, 2024
  
  Closed for 13.75, 10%. May try again in a couple hours.
  - Jeff 10:51 am on Thursday, August 29, 2024
    
    Sold same strikes again for 10.35. IV 20.09%
- matt0311 8:59 am on Thursday, August 29, 2024
  
  Trying to follow, but it seems I am always late. Do you have a ballpark when you consider to open the trade? Waiting on a change in the decay or anything else? Thanks
  - Jeff 10:52 am on Thursday, August 29, 2024
    
    Ballpark has changed quite a bit as the market changes. I used to sell these before or at the open. But in last month the swings have been dramatic, and I found waiting until mid or late day to be quicker decay. So really it’s just about when I have a feeling that some consolidation at the current level will occur.
Jeff 11:04 am on Thursday, August 29, 2024

Closed call side of morning wide condor for .15
- Jeff 11:39 am on Thursday, August 29, 2024
  
  Wow… Super painful gut punch. Was it the bond auction. Not much of any bounce to get out so this will be a big loss.
  - Jeff 11:52 am on Thursday, August 29, 2024
    
    Out for 24.50, so loss of 14.15. Very painful. Definitely one of the worst hits I’ve taken all year, and the biggest fastest drop I’ve experienced during one of these trades. It did hit 10% profit of +1.05 but I was going for +2.35 or more. Earlier in the day I had gotten back almost to breakeven on the week so my loss for week now over 14.00. One day tomorrow to try to get some back but I’ll need to be careful not to push things too hard.
    - Jeff 11:55 am on Thursday, August 29, 2024
      
      Oh god if this bounces all the way back I will probably puke.

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