Jeff 6:06 am on Monday, April 28, 2025
Tags: spx0dte ( 421 ), VIXIndicator ( 294 )

SPX 0-dte trades for 4/28/25

#SPX0dte Sold to Open $SPX Apr 28th 5405/5425-5615/5635 condors for 1.40, IV 37.26%, deltas -.07 +.05

That’s the lowest chain IV for a trade I’ve seen since April 1st.

Jeff 6:45 am on Monday, April 28, 2025

I “demoted” the #VIXindicator to sidebar status since it hasn’t been performing so hot since the pandemic. So I don’t post about it, but I will comment here that the Downside Warning may be canceled today if VIX closes below 24.46. That’s a pretty high level for this signal, but nonetheless might mean this rally may hold for at least a bit longer. Whether that is days or weeks, or if the volatility for the year has ended, is anyone’s guess.
- Jeff 7:35 am on Monday, April 28, 2025
  
  Sold 5500/5530-5535/5565 condors for 20.20, IV 34.23%. One of these worked Friday so trying again on premise that super wild swings are less frequent. Sold this on a downswing, below center.
  - Jeff 8:12 am on Monday, April 28, 2025
    
    Tight condor STOPPED for 20.20, breakeven. Downside stop breached.
Jeff 8:08 am on Monday, April 28, 2025

5615/5635 calls closed for .15
Jeff 9:06 am on Monday, April 28, 2025

Bailed on put side for 1.30, so day was just below breakeven. Not putting up with stop outs on these for time being, so closing if the premium on one side exceeds opening trade.
- Jeff 12:01 pm on Monday, April 28, 2025
  
  Near the bottom of the day, sold to open 5540/5520 put spreads for 19.00. Just now BTC for 17.80.
  
  This trade could have worked every day last week, had the timing been right. I actually finalkly placed it on Friday and made 2.00. Today I made 1.20. I like it because the loss is limited to one dollar. Even though it’s the same as buying the 5520/5540 call spread for 1.00, I somehow like the sell/put angle better.
  
  On the majority of days during this volatile period, the day ends with a move UP… sometimes for only 15 minutes, other times for two or more hours.

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