All times ET

Rolled $SPY Dec 12th 682 put to Dec 15th 683 put (up one strike), .50 credit, 6.08 total

Rolled Dec 12th 684 put to Dec 15th 684 put, .55 credit, 1.05 so far

Rolled $SPY Dec 11th 682 put to Dec 12th 682 put, .75 credit, 5.58 total.

Rolled $SPY Dec 10th 682 put to Dec 11th 682 put, 1.06 credit, 4.83 total so far for a week in the trade.

Rolled $SPY Dec 8th 682 put to Dec 9th 682 put for 1.45.

This is against the 685 LEAP spread, with total now of 3.77 in daily put sales. Still waiting to add another position after closing my 675 one yesterday.

Rolled $SPY Dec 5th 678 put to Dec 8th 679 put. Sold the 679 for .60, and allowing the 678 to deflate to .05 (far enough OTM to wait). I will be looking to roll this LEAP spread up soon.

Rolled $SPY Dec 5th 682 put to Dec 8th 682, credit .60

Moved up a strike, even though my LEAP spread is still down at 675. Was considering rolling up the LEAPs today but the weakness has me on pause.

Rolled Dec 4th 677 to Dec 5th 678, .55 credit,

Rolled $SPY Dec 3rd 677 put to Dec 4th 677 put for .70, total rolls 4.26 since Nov 17th.

Right after the open, rolled $SPY Dec 2nd 677 put to Dec 3rd 677 put, .52 credit. After the 11am drop in SPY, the credit for this roll went as high as .90

For my live trade, on Nov 21st I had rolled a week ahead to today’s expiry. Sold the Dec 1st 677 put for 22.62 in that roll, and today it’s expiring worthless. I made the choice to wait out the day to see if I could get a better price on the Dec 2nd 677, but the day kept going higher so I only got .50, even though I don’t need to pay to close today’s option. Had I rolled near the open could have gotten as high as .80.

So the .50 roll gives me a total of 10.04 so far against my Jan 2028 LEAP spread (at 675 strike) that I paid 37.76 for. That spread is down about 2 bucks so trade is $800 in profit, for a 1-lot over 2 weeks.

I entered the trade on Monday when SPY was at 672, and the week ended at 659. With a one-lot my account is down 150.00, which is pretty satisfying for a week that was down 13 points. This included three rolls totaling 2.54, including two assignments. My ITM short 677 put is currently at -18.00.

If I had purchased 100 shares of SPY stock, I’d be down 1,300.
If I had just bought the LEAPs spread and not sold puts, I’d be up 594.

Got assigned on my Nov 24th 677 puts, two trading days before expiration.

Sold stock for 655.75 and sold the Dec 1st 677 puts for 22.72. That’s a roll of 1.47 credit. I was able to do that by legging in on the opening swings. A scary move I don’t try often, but sold the put on the 9:39am down bar and sold the stock on the 9:42am spike up (ET, 1-min chart).

So now this is 5-trading days out, over the holiday week. I will look to roll on Wednesday to avoid assignment.

*Recent government shutdown means these are more susceptible to change than normal.

2025 continues to be the bizarro year for intraday moves. Whereas the last seven years (at least) have shown that 6-delta EM breaches were the rarity, the have now become the norm. It was predictable that after yesterday’s call-side EM breach, that today we would see a put-side breach. Sadly, I predicted its likelihood but didn’t buy a put spread (let the record show I am adverse to long trades). I have been trying to find trades here and there. Last week I did okay with some ATM narrow condors, but this week so far has been a misfire. On the sidelines for now.

Exceeded Tuesday’s high by more than 3.00… is this crashout Thursday?

Today is the 11th day out of 13 with an EM breach of the 6-delta condor. I am trying cheap long spreads, puts and calls. Yesterday had a small win on the call side which broke me even. Will happen again today if we go higher. Certainly need to continue my moratorium on short spreads.

Day 6 out of the last 7 with an EM breach for 6-delta condor… this time, like yesterday, not much more than a touch before retracing. No trades yet today.

This is probably the first full week I’ve taken off from trading in 10 years. After a quiet Monday and Tuesday, the EM on 6-delta condors was hit Wed-Fri. This seems to be the 2025 norm, whereas the 2023-2024 norm was maybe twice in 2 weeks.

I tested the 6-delta all week and had I stopped out quickly when EM hit I would have been breakeven. However, since upside EM hits are common during Upside Warning, it also seems pullbacks are common on its way up. I think by waiting for pullbacks it would eke out a profit on a week like this.

Downside, however, is different. Premium is much higher on downside EM hit, and the drop can continue in earnest. Frustrating part is, that it almost always will bounce and end the day safely. But the one day it doesn’t can be a very large loss. So I have to consider how to manage downside EM breaks. That happened on Thursday this week and it was a 2.10 payout to close when it hit, but then went much deeper…. but eventually bounced and actually ended the day with new all-time closing high.

I also tested a cheap 60-cent LONG condor… 30-cent spreads on each side, then close the winning side at or above 1.20. Obvious losses on Monday and Tuesday but wins the other three days. Total profit for the week: 95 cents. Possible solution until the market returns to less swingy status. I think days like Monday and Tuesday, after a couple hours of consolidation, can be good for some tight condors.

The consumer price index posted a seasonally adjusted 0.4% increase for the month, double the prior month, putting the annual inflation rate at 2.9%, up 0.2 percentage point from the prior month and the highest reading since January. Economists surveyed by Dow Jones had been looking for respective readings of 0.3% and 2.9%.

https://www.cnbc.com/2025/09/11/consumer-prices-rose-at-annual-rate-of-2point9percent-in-august-as-weekly-jobless-claims-jump.html