Jeff 6:33 am on Thursday, January 2, 2025
Tags: spx0dte ( 421 )

SPX 0-dte trades for 1/2/25

#SPX0dte Sold to Open $SPX Jan 2nd 5815/5835-5985/6005 for 1.25, IV 28.35%, deltas -.06 +.06

matt0311 6:44 am on Thursday, January 2, 2025

a new year a new start. Good Luck!
Jeff 9:42 am on Thursday, January 2, 2025

Stopped for 5.20. No bounce and this drop surprised me. I can’t seem to escape my trend of torpedoing mid week profits with losses on Thursday and Friday. Why can’t I just double what I have rather than lose half or all of it?

This put side got so low in premium, like 35 cents only minutes ago, that I didn’t feel compelled to close for safety (order was in to close for .10). I’m going to need to change this until market stops swinging like this.
- Jeff 10:07 am on Thursday, January 2, 2025
  
  Bought the long condor with center strikes of 5850/5855 for 18.50, then sold it 5 minutes later for 19.90. I was at first planning to hold it for longer, but then figured I could do 2 or 3 of these instead for smaller profits. It jacks up my commissions cost but is a safer way to play it.
  - Jeff 10:55 am on Thursday, January 2, 2025
    
    Did the same strikes, in for 18.50, but sold for only 19.00 as I lost patience. I’m going to wait for ATM price to get lower and consider trying again.
    - Jeff 12:15 pm on Thursday, January 2, 2025
      
      Went long the 55/60 from -12.00 to +14.00. That cleans up the mess from the stopped put spread, after commissions about breakeven for the day.
      - geewhiz112 12:36 pm on Thursday, January 2, 2025
        
        Jeff, does your broker identify you as a pattern day trader?
        
        Jeff 10:42 am on Friday, January 3, 2025
        
        Yes, but only for accounts under $25K. For those accounts, I OPEN the reverse option position to effectively close the original one.

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