Jeff 6:37 am on Tuesday, October 15, 2024
Tags: spx0dte ( 421 )

SPX 0-dte for 10/15/24

#SPX0dte Sold to Open $SPX Oct 15th 5800/5820-5900/5920 condors for 1.25, IV 16.85%, deltas -.08 +.07

Waited for the open then went a bit aggressive since no overnight moves and no data releases today.

Jeff 6:45 am on Tuesday, October 15, 2024

Sold Oct 15th 5830/5860-5865/5895 condors for 14.75, IV 16.95%
- Jeff 7:17 am on Tuesday, October 15, 2024
  
  10% hit, pushing it
- Jeff 7:46 am on Tuesday, October 15, 2024
  
  Total flush out. It is almost guaranteed this will bounce, but I unfortunately got hammered.
  
  Out of put side for 2.50
  Out of tight condor for 19.35
  
  My mistake today was not being fast enough with order adjustment. When my stop was hit on the tight condor, a quicker move would have gotten me out with a dollar profit. Instead, the index just moved too swiftly down so I kept missing fills. This is extremely frustrating and very hard to overcome. I guess the strategy must be to accept less profit or small loss to get out quickly. This will suck when there’s an immediate bounce. But will save me in precipitous drops like we just saw.
  
  Now negative on week…. back to drawing board.
  - Jeff 7:59 am on Tuesday, October 15, 2024
    
    And back to breakeven if I could have waited. Just too risky, however. A drop like this happened last week, on Monday. I had already taken profits, so no loss, but in that case there was no bounce. We ended day much lower and would have been max loss on trade had I waited.
    - matt0311 8:02 am on Tuesday, October 15, 2024
      
      the only thing i saw was more of the treasury auctions today. could that have been?
      - Jeff 8:12 am on Tuesday, October 15, 2024
        
        I don’t know, I didn’t see any bond auctions, where did you see that info? There was nothing on Bloomberg calendar between 8:55 and 11am ET.
      - Jeff 6:28 am on Wednesday, October 16, 2024
        
        Looks like it may have been an early earnings release from $ASML that triggered the down move yesterday. Took down the chip sector including $NVDA, which took down the market. The CEO apologized for the early release.
    - Jeff 8:03 am on Tuesday, October 15, 2024
      
      I have determined a solution to this order entry issue. I need to adjust order when I see stop is getting close, rather than waiting. Today on the first red bar I could have entered order for 13.75 (one dollar profit). When stop then hit, I could click TRANSMIT and order would be entered and would have filled on first mini-bounce.
      
      This is quite doable with profit fairly certain, since I adjust my stops progressively tighter after 10% is achieved on the trade.
      - matt0311 11:06 am on Tuesday, October 15, 2024
        
        Yes, with a prepared order you could avoid chasing to close. I am trying the same.
- Jeff 8:33 am on Tuesday, October 15, 2024
  
  Sold 5810/5840-5845/5875 condors for 12.50, IV 16.99%
  - Jeff 10:12 am on Tuesday, October 15, 2024
    
    STOPPED for 11.60. I was able to be more aggressive this time to get out with profit. Lowest price I could have taken was about 9.40, so I lost a couple of bucks by pressing it.
    - Jeff 11:18 am on Tuesday, October 15, 2024
      
      VIX remains stubbornly high even as we hit daily new all-time index highs. I probably should not be pressing these trades when 10% has been consistently available. We have had big moves on almost every one of the last 7 days. My good trades have just been in-between these moves. I will be more conservative until VIX relaxes… may still push a little if we are near the center of my condor but get out before it drifts away much.

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