Jeff 6:05 am on Friday, January 31, 2025
Tags: spx0dte ( 421 )

SPX 0-dte trades for 1/31/25

#SPX0dte Sold to Open $SPX Jan 31st 6005/6025-6150/6170 call spreads for 1.10, IV 22.12%, -.08 +.04

Pre-market deltas seem a bit skewed, plus overnight skew was bullish. Possible we hit new all time highs today, but I think it’s more likely we get a day of chop.

fuzzballl 6:47 am on Friday, January 31, 2025

Wild week but right back to where we ended last Friday. Crazy.
Jeff 6:52 am on Friday, January 31, 2025

Sold 6065/6095-6100/6130 condors for 18.00, IV 21.50%

Yes Fuzz, wild week and haven’t tried many of these trades and the ones I did never worked. Maybe fifth day’s a charm.
- Jeff 7:04 am on Friday, January 31, 2025
  
  Already had to bail for 18.85. I just cannot catch a break this week. Had i ONLY traded the wide condors this would have been a perfect week. As it is, I chipped away at those profits with repeated misfires on tight condors, and I am at dead zero for the week.
  - Jeff 8:27 am on Friday, January 31, 2025
    
    Sold 6085/6115-6120/6145 condors for 13.00, IV 19.11%
    - Jeff 9:11 am on Friday, January 31, 2025
      
      Stopped out for 13.00, so breakeven. Thought entering on a small pullback would finally work, but it wasn’t small enough.
      - Jeff 9:27 am on Friday, January 31, 2025
        
        And now it hits 10%. The very brief spike down at 12:08 is what stopped me out. It seems this week was tailor made to prevent my strategy. At least I suffered no large losses.
Jeff 10:56 am on Friday, January 31, 2025

Call spreads closed earlier for .10, since we started the day with them under slight threat, but now put spreads are in play. Should have predicted that the tariff issue would hit the market again today.
- Jeff 11:47 am on Friday, January 31, 2025
  
  Stopped out of downside for 3.35. Should have dumped out earlier but I thought we would bounce like yesterday. I am now LONG a narrow condor so will profit if get lower
  - Jeff 12:17 pm on Friday, January 31, 2025
    
    Well, I got 2.65 profit from the long condor…. I picked almost the bottom thus far unless we go below 6035. So my week was a small loss. Lessons learned were…. Monday was a huge shock down in the AM. This signaled a volatile week to come. My wide condors worked every day with no stops hit, until today, when I should have closed early for .10 given yesterday’s reaction to tariff announcement, and the tariffs scheduled to start Saturday. So, on such week, avoid the tight condors… and stick with wide condors provided the swings are relatively contained. But also, exit put spreads for cheap rather than waiting for expiry.

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