Jeff 7:12 am on Monday, April 7, 2025
Tags: spx0dte ( 421 )

SPX 0-dte trades for 4/7/25

#SPX0dte Sold to Open $SPX Apr 7th 4650/4675-5250/5275 condors for 1.65, IV 129.50%, deltas -.06 +.05

I was building put spreads to sell at the bottom and by the time I entered the trade we were headed back up so I missed it. Now I sold where we opened and I’m immeditaly getting crushed by a spike rally.

Jeff 7:14 am on Monday, April 7, 2025

Wow. This was the fastest stop out I may have ever seen, and also one of the biggest losses on a stopped wide condor. Not closed yet.
- Jeff 7:22 am on Monday, April 7, 2025
  
  Panic stop for -10.85
  
  I was so focused on being careful this week. I waited until the bottom of the morning looked good was was ready to sell very OTM. But I missed it. Then we got back to the open level so I thought I’d try the neutral condor. This is the worst loss I’ve taken in this wide condor structure since I let one go to expiration over a year ago.
  
  I’m floored. I did okay last week because I remained careful and cautious. Wanted to do even better this week. I have to step back now from the short trades, at least to the upside, because any tweet or small news will cause a violent rally like this, whereas we are already down far enough that a sudden downside collapse is less likely.
  
  And of course today I just paid way too much to get out of this as the reversal came in right after I closed. Such a disappointing way to start the week, down over 9 dollars.
  - Jeff 7:46 am on Monday, April 7, 2025
    
    I guess it was Bill Ackerman *suggesting* a 90-day pause on tariffs that caused the violence. White House quickly denied that was in the cards, so now we are back to where I sold it. Such an embarrassment for everyone, but especially me.
    - Jeff 10:27 am on Monday, April 7, 2025
      
      Closed original put spread for .10. I’ve also made a couple bucks back with small scalps going with long call and long put spreads on the swings.
      - Jeff 1:04 pm on Monday, April 7, 2025
        
        I was able to claw back over 3 bucks with a few long spreads but also selling the 5000/4985 put spread for 2.00 at 3:50pm… only 9 minutes and 15 seconds left in the day and this spread was over 25 points OTM. Closed it for .20 four minutes later.