Jeff 5:39 am on Friday, October 11, 2024
Tags: spx0dte ( 421 )

SPX o-dte trades for 10/11/24

#SPX0dte Sold to Open $SPX Oct 11th 5710/5730-5825/5845 condors for 1.25, IV 18.48%, deltas -.07 +.07

Jeff 5:46 am on Friday, October 11, 2024

Sold 5750/5780-5785/5815 condors for 16.90, IV 18.68%
- matt0311 6:22 am on Friday, October 11, 2024
  
  are you concerned about the consumer sentiment release? Shall be at 7:00 AM PST
  - Jeff 7:07 am on Friday, October 11, 2024
    
    Yes, I was, but not enough to take an early shot. I see now that was a mistake.
- Jeff 7:25 am on Friday, October 11, 2024
  
  Awful week for a neutral trader. By far the best move was to take the large profit I made on Monday and take the week off. Second guessing data releases turned out to be a big error today, as PPI at 8:30 had no effect, and Michigan data last month had little effect either. But like Wednesday, a relentless upward move forced heavy losses. Turned the small profit I had into a chunky loss for the week. First losing week since the one ended Sept 6th.
  
  Closed 5825/5845 call spreeads for 4.60
  Closed tight condor for 23.20.
  
  -6.77 loss on the week.
  
  Bloomberg Calendar should upgrade the Michigan data to 3 bulls. Will avoid it from now on until it shows a year of having muted effect.
  
  I may try another trade if we find some consolidation.
  - Jeff 8:37 am on Friday, October 11, 2024
    
    Sold 5780/5810-5815/5845 for 13.00
    - Jeff 10:59 am on Friday, October 11, 2024
      
      Closed for 7.90, +5.10, reducing my loss significantly. This came within 21 cents of my stop at the lows, and had I stopped it still would have made a dollar.
      
      I’m torn between the early and late trades on this. Both have shown varying success. But this one saved my ass this week, even though most of the time in the trade was spent uncomfortably watching a slow tick downward.
      
      Also left open the long 5845 call for a crazy lottery ticket.
      - Jeff 12:34 pm on Friday, October 11, 2024
        
        Had I waited for my narrowing stops to be hit, it would have happened at 3:09p ET, and the worst price I could have gotten at that time was about 8.00.

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