Jeff 5:57 am on Thursday, February 20, 2025
Tags: spx0dte ( 421 )

SPX 0-dte trades for 2/20/25

#SPX0dte Sold to Open $SPX Feb 20th 6060/6080-6165/6185 condors for 1.05, IV 15.80%, deltas -.07 +.07

Jeff 6:39 am on Thursday, February 20, 2025

Sold to open 6100/6130-6135/6160 condors for 13.25, IV 15.19%. Width of wings unbalanced to avoid overlapping strikes. One strike above center to allow room for bullish move.
- Jeff 6:56 am on Thursday, February 20, 2025
  
  Stopped for 18.50. Whole week tanked again.
  - Jeff 7:03 am on Thursday, February 20, 2025
    
    Stopped out of put spreads for 5.20. Now as much in the hole as I was in profit.
    
    last night was a Wednesday night like many others… nice profit to start the week, but actually fearful of trading Thursday and Friday because of a recent tendency of my strategy tanking after a strong mid week profit. So today is kind of like a joke. Not only did my profit disappear, but I got slammed.
    - Jeff 7:10 am on Thursday, February 20, 2025
      
      Given this, I was not careful enough. For one, I placed the tight condor before 6:45 am, or 15 minutes after the market open. This is a loose rule I apply in volatile times, but can ease off of when market is calmer. Today was first day I decided to ease off of it… which I should not have done given my midweek profit. Had I done that — the move down started at 6:43 — I would have avoided the trade and just managed the stop of my wide condor.
      
      Furthermore, I didn’t take the move seriously enough and tried to milk a decent stop out, on both trades. Instead, it ran away from me BOTH times and I got slammed. The bounce would not come until AFTER I exited both trades, of course, and we’ve possibly found the bottom now as I type this.
      
      As frustrating as it will be, I’m going to need to consider taking Thursdays and Fridays off if I continue to perform so well early in the week. I have been dealing with this consistently now for over 7 months. It doesn’t seem to be a pattern I can break… if I have mid week profit, Thursday and Friday goes poorly. If I have a bad start to week, Thursday and Friday often saves me. This most certainly has to do more with my behavior than with some kind of market trend, but it no longer matters. It just seems to be the way it works for me.