SPX 1-dte

#SPX1dte Sold to Open $SPX May 18th 3945/3965-4160/4180 condors for 1.60, SPX at 4078, IV 29.2%, deltas -.06 +.07

They’re building it, so I came

#Update
Well, I stayed out of Hollywood for over 13 years, but they dragged me back in. I’m back in LA to work on the TV series version of Field of Dreams. Just started today and it will last until end of the year. I am going to keep my #SPX1dte strategy going as best I can but won’t be able to post all of my trades or keep the site updated every day.

For instance, today my Friday trade expired worthless but I wasn’t able to place a trade for tomorrow.

Keep Options Bistro going with all of your Posts!

-Jeff

SPX 1-dte

#SPX1dte Sold to Open $SPX May 16th 3855/3875-4130/4150 condors, SPX at 4019, IV 22.7%, deltas -.06 +.06

SPX stopped

#SPX1dte Bought to close $SPX May 13th 4050/4070 call spreads for 3.35. Condors sold yesterday for 1.65.

SPX 1-dte

Sold to Open $SPX May 13th 3750/3770-4050/4070 condors for 1.65, SPX at 3901, IV 42.8%, deltas -.06 +.06

SPX long puts

#SPX Sold to close $SPX May 13th 3800/3780 put spreads for 4.35. Bought for 1.00 on Tuesday.

SPX trades

#SPX1dte Expiring: May 11th 3830/3850-4145/4165 condors, sold yesterday for 2.05.

#SPX Got up to just over 2.00 on the May 13th 3800/3780 put spread I bought yesterday for 1.00. Had an order to sell at 2.50, so this will go until tomorrow. Hopefully we gap down.

SPX1-dte

Sold to Open $SPX May 11th 3830/3850-4145/4165 condors for 2.00, SPX at 3993, IV 45.85%, deltas -.06 +.06

Expiring: May 10th 3825/3850-4125/4150 condors, sold yesterday for 1.90.

SPX spec

#SPX Bought to Open $SPX May 13th 3800/3780 put spreads for 1.00. Now the hard part is when to sell it. Already a double.

SPX 1-dte

#SPX1dte Sold to Open $SPX May 10th 3825/3850-4125/4150 condors for 1.90, SPX at 3996, IV 41.45%, deltas -.05 +.06. (wings are 25 wide)

SPX stopped

#SPX1dte Bought to close $SPX May 9th 3990/3970 put spreads for 2.90. Condors sold for 1.80 on Friday.

SPX 1-dte

#SPX1dte Sold to Open $SPX May 9th 3970/3990-4255/4275 condors for 1.80, SPX at 4127, IV 23.4%, deltas -.06 +.06

Expiring: May 6th 3960/3980-4275/4295, sold yesterday for 1.70.

April Jobs report

#Jobs — Slightly above expectations; other stats a bit weak

Gain of +428,000 non-farm payroll jobs, vs. expected gain of 400K
Unemployment unchanged at 3.6% (vs expected drop of 0.1)
U6 unemployment rose to 7.0%, up by 0.1
Labor force participation 62.2%, down by 0.2
Average hourly earnings up 0.3%, below expected 0.4%; 5.5% increase over the year

February jobs revised down by -36K to +714K
March jobs revised down by -3K to +428K

SPX 1-dte

#SPX1dte Sld to Open $SPX May 6th 3960/3980-4275/4295 condors for 1.70, SPX at 4138, IV 45.2%, deltas -.06 +.06

Jobs report is before the open!

SPX busted

#SPX1dte. I committed the cardinal sin… again… I just refused to believe we’d go too much over a 2% increase on the day, so I ignored when we passed the stop levels. Turned into an 8.00 loss. Frankly, I am lucky it wasn’t the max loss.

SPX 1-dte — FED day!

#SPX1dte Sold to Open $SPX May 4th 4000/4020-4290/4310 condors for 1.90, IV 40.6%, deltas -.06 +.06
High IV and premium due to Fed announcement.

Expiring: May 3rd 3990/4010-4260/4280 condors, sold yesterday for 1.85

Spx 1-dte

#SPX1dte Sold to Open $SPX May 3rd 3990/4010-4260/4280 condors for 1.85, SPX at 4144, IV 37.7%, deltas -.06 +.07

Expiring: May 2nd 3900/3925-4265/4290 condors, sold Friday for 1.60.

SPX 1-dte

#SPX1dte Sold To Open just after the closing bell: $SPX May 2nd 3900/3925-4265/4290 condors for 1.60, SPX closed at 4132, IV 27.8%, deltas -.06 +.06. *** 25-wide ***

SPX stopped

#SPX1dte Bought to close $SPX Apr 29th 4145/4130 put spreads for 1.85. Condors sold for 1.15 yesterday. Was hoping a 4-for-4 week but alas, it was not to be as my stop was hit below 4167. Also, I mistakenly sold 15-wide rather than my usual 20-wide.

I hope y’all sold the crap out of yesterday’s rally.

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 29th 4130/4150-4395/4415 condors for 1.15, SPX 4289, IV 34.8%, deltas -.06 +.06

SPX risk off

#SPX1dte Bought to close $SPX Apr 27th 4020 puts for .10.

SPX 1-dte

#SPX1dte After the close, sold to open $SPX Apr 27th 4000/4020-4280/4300 condors for 1.55. IV 38.6%, deltas -.07 +.06

Futures had dropped 20 points since the close.

SPX puts closed

#SPX1dte Bought to close $SPX Apr 26th 4160/4140 put spreads for .30. Condors sold yesterday for 1.60. Gotta leave my desk for a couple hours, and in the words of Public Enemy, I Can’t Truss It.

SPX 1-dte — first Tuesday expiration

#SPX1dte Sold to Open $SPX Apr 26th 4140/4160-4375/4395 condors for 1.60, SPX at 4293, IV 30.7%, deltas -.05 +.08

First Tuesday series. Small error: I misread my screen, meant to sell the 4380 as the short call so I’m a little riskier on the call side than I’d prefer.

Downside Warning in effect

#VIXIndicator A double warning as $VIX closed 25% above Wednesday’s close AND 50% above the the recent low of 18.45 from April 4th.

SPX 1-dte – double wide

#SPX1dte Sold to Open $SPX Apr 25th 4050/4100-4400/4450 condors for 1.50, SPX at 4275, IV 21.35%, deltas -.05 +.04

Insufficient strikes available on the put side to go with anything less than a 50-point spread. So I went a little safer on deltas as risk is higher.

SPX stopped

#SPX1dte Bought to close $SPX Apr 22nd 4300/4280 put spreads for 3.00. Condors sold yesterday for 1.40.

And now Tuesdays too

$SPX options expiring Tuesdays start next week… not sure when they plan to start Thursdays but maybe someone will look it up.
#SPX1dte

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 22nd 4280/4300-4475/4495 condors for 1.40, SPX at 4398, IV 24.75%, deltas -.06 +.07

SPX 1-dte

#SPX1dte Sold to Open $%SPX Apr 20th 4355/4375-4515/4535 condors for 1.35, a few minutes after the closing bell. Closing SPX: 4463, IV 19.5%, deltas -.06 +.06

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 18th 4280/4300-4480/4500 condors for 1.20, SPX at 4402, IV 12.45%, deltas -.05 +.06

Expiring: Apr 14th 4350/4370-4510/4530 condors, sold yesterday for 1.20

SPX 1-dte

#SPX1dte Sold to Open $SPX April 14th 4350/4370-4510/4530 condors for 1.20, SPX at 4447, IV 19.5%, deltas -.06 +.06. Markets closed Friday so these are Weekly options expiring Thursday.

Expiring: April 13th 4305/4325-4495/4515 condors, sold yesterday for 1.25

SPX stopped

#SPX1dte Bought to close $SPX Apr 11th 4415/4395 put spreads for 1.75. Condors sold for 1.65 on Friday.

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 11th 4395/4415-4565/4585 condors for 1.65, SPX at 4499, IV 12.4%, deltas -.07 +.07

Expiring: Apr 8th 4415/4435-4590/4610 condors, sold yesterday for 1.50.

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 8th 4415/4435-4590/4610 condors for 1.50, SPX at 4518, IV 20.7%, deltas -.07 +.04

SPX stopped

#SPX1dte Bought to close $SPX Apr 6th 4440/4420 put spreads for 2.95. Condors sold yesterday for 1.25

Upside Warning CANCELED

#VIXindicator Another run bites the dust.

SPX 1-dte

#SPX1dte sold to open $SPX Apr 6th 4420/4440-4590/4610 condors for 1.25, SPX ar 4518, IV 20%, deltas -.06 +.06

SPXpire

#SPX1dte Expiring: $SPX April 4th 4455/4475-4600/4620 condors, sold Friday for 1.15.

SPX 1-dte

#SPX1dte Sold to Open $SPX Apr 4th 4455/4475-4600/4620 condors for 1.15, SPX 4546, 10.2%, delta -.06 +.06

SPX closed

#SPX1dte Bought to close $SPX Apr 1st 4475/4555 put spreads for .35. Condors sold yesterday for 1.20. Normally don’t close before stop is hit, but I don’t have a good feeling about the market today. Also, SPX dropped over 30 points AFTER I sold this yesterday.

March Jobs report

#Jobs — Slightly below expectations, but all stats are strong

Gain of +431,000 non-farm payroll jobs, vs. expected gain of 490K
Unemployment drops to 3.6%, down by 0.2 (vs expected drop of 0.1)
U6 unemployment fell to 6.9%, down by 0.3
Labor force participation 62.4%, up by 0.1
Average hourly earnings up 0.4%, and up 5.6% over 12 months.

February jobs revised up by +72K to +750K
January jobs revised up by +23K to +504K

SPX trades

#SPX1dte Sold to Open $SPX April 1st 4455/4475-4635/4655 condors for 1.20, SPX at 4560, IV 21.2%, deltas -.06 +.06

Expiring: March 31st 4490/4510-4660/4680 condors, sold yesterday for 1.375

#SPX5dte Sold to close $SPX March 31st 4555/4575 call spreads for 9.85. Condors bought for 16.90 on Monday. Puts sold for 1.30 yesterday. So loss of 5.75. What a disappointment. Another Upside Warning that has fizzled out immediately (last one was similar, from Dec 27th, but that time we at least got a few days before a drop). This trade looked like it would survive only a few minutes ago. I have been playing this strategy very conservatively and should have stuck to that approach and sold for 18.00 earlier in the hour.

SPX trades

#SPX5dte Sold to close $SPX March 31st 4545/4525 put spreads for 1.30. Condors bought for 16.90 on Monday. Looking for 20.00 max credit tomorrow on the 4555/4575 call spreads.

#spx1dte

Upside Warning in effect

#VIXIndicator A likelihood of higher levels in coming days or weeks.

SPX 1-dte

#SPX1dte – at 12:34p PT, Sold to Open $SPX March 30th 4540/4560-4700/4720 condors for 1.15, SPX at 4632, deltas -.07 +.04

SPX trades

#SPX5dte Bought to Open $SPX March 31st 4525/4545-4555/4575 condors for 16.90, with SPX at 4550.

#SPX1dte Expected to expire worthless: March 28th 4410/4430-4590/45610 condors, sold Friday for 1.40

Downside Warning canceled (again)

#VIXindicator Based on the $VIX close under 21.17, the Downside Warning is canceled. It first went into effect on January 20th, was canceled on Feb 9th, only to be reinstated only two days later on Feb 11th.

The arrow on this chart shows last time it was canceled. (Feb 9th).

Screen Shot 2022-03-25 at 1.03.22 PM

So while it is usually a pre-cursor to an extended rally, the better sign will come with an Upside Warning, which will require two more CONSECUTIVE closes below 21.17.

SPX 1-dte

#SPX1dte Sold to Open $SPX March 28th 4410/4430-4590/4610 condors for 1.40, SPX at 4519, OV 12.8%, deltas -.06 +.06

Expiring: March 25th 4405/4425-4585/4605 condors, sold yesterday for 1.45

SPX long

#SPX5dte Sold to close $SPX March 25th 4445/4465-4475/4495 condors for 17.60. Condors bought yesterday for 16.30. I got the move, so 1.30 profit is good for 24 hours rather than waiting for more at the risk of a chunky loss.

SPX 1-dte

#SPX1dte Sold to open $SPX March 25th 4405/4425-4575/4595 condors for 1.45, SPX at 4510, IV 19.4%, deltas -.06 +.06

SPX trades

#SPX5dte Bought to Open $SPX March 25th 4445/4465-4475/4495 condors for 16.30, with SPX at 4468.

#spx1dte

SPX trades

#SPX1dte Sold to Open $SPX March 23rd 4430/4450-450/4600 condors for 1.95, SPX at 4513, IV 20.6%, deltas -.12 +.05.

The put side was an error, meant for the 4430 to be short strike, not the long one. But I will let it ride.

SPXpire

#SPX1dte Expiring: $SPX March 21st 4320/4340-4540/4560 condors, sold Friday for 1.60.

SPX 1-dte

#SPX1dte Sold to Open $SPX March 21st 4320/4340-4540/4560 condors for 1.60, SPX at 4461, IV 15.9%, deltas -.07 +.06

Expiring: March 18th 4270/4290-4490/4510 condors, sold yesterday for 1.30.
Also expiring, ill-fated 4060/4040 bear put spread, when I foolishly thought we’d be headed down. Had I bought the same on call side it would be expiring for 20.00 today.

#spx5dte

SPX 1-dte

#SPX1dte Sold to Open $SPX Mar 18th 4270/4290-4490/4510 condors for 1.35, SPX at 4406, IB 28.1%, deltas -.07 +.06.

SPX stopped

#SPX1dte Bought to close $SPX Mar 17th (monthlys) 4445/4465 call spreads for 1.75. Condors sold yesterday for 1.75. Lost commissions but otherwise breakeven… can’t risk overnight gap risk since these settle in the morning.

SPX 1-dte

#SPX1dte Sold to Open $SPX March 17th (monthlys) 4160/4180-4445/4465 condors for 1.75, SPX at 4328, IV 28.8%, deltas -.06 +.06. These stop trading at tomorrow’s close… but settle on Friday morning’s open.

Fed decision in

#FOMC A quarter percent increase, to a range of 0.25-0.50%

SPX stopped

#SPX #SPX1dte Double loser for me today, clearly wrong about a short-term bearish direction (although still have until Friday on that trade), but also just stopped out on the 1-dte trade. Shouldn’t mess with the Fed, I guess.

Bought to close $SPX March 16th 4385/4405 call spreads for 3.30. Condors sold yesterday for 1.65.

SPX 1-dte

#SPX1dte Sold to Open $SPX March 16th 4105/4125-4385/4405 condors for 1.65. SPX at 4268, IV 36.05%, deltas -.05 +.05

SPX bearish

#SPX Taking a low risk trade to downside… The Fed will likely announce IR increase, but who really knows what short term effect will be? I believe we still have lower to go regardless of tomorrow’s decision. Right now we are hitting against the top of the downward channel on the daily chart.

Bought to Open $SPX March 18 4060/4040 put spreads for 1.75.

SPXpire

#SPX1dte Expiring: $SPX Mar 14th 4030/4050-4335/4355 condors, sold Friday for 1.60

SPX 1-dte

#SPX1dte Sold to Open $SPX March 14th 4030/4050-4335/4355 condors for 1.60, SPX at 4212, IV 24.1%, deltas -.06 +.06

On our way to 4000!

SPX 1-dte

#SPX1dte Sold to Open $SPX March 11th 4110/4130-4355/4375 condors for 1.75, SPX at 4253, IV 31.3%, deltas -.06 +.06

SPX stopped

#SPX1dte Bought to close $SPX March 9th 4300/4320 call spreads for 2.60. Condors sold yesterday for 1.75. Stop level hit at the open as we traded over 4250, and the expected range of today’s move was +/-54.

SPX trades

#SPX Sold to close $SPX May 9th 4320/4340 call spreads for 3.85. Bought yesterday for 2.50. I was away from the computer, so I got filled on the limit order at 9:38am PT, a little before today’s high.

#spx1dte

SPX trades

#SPX Bought to open $SPX March 9th 4320/4340 call spreads for 2.50, with SPX at 4200. It’s about time for a bounce, so taking a small risk to find one tomorrow.

#SPX1dte Expiring: March 7th 4115/4135-4425/4445 condors, sold Friday for 1.65

SPX 1-dte

#SPX1dte Sold to Open $SPX Mar 7th 4115/4135-4425/4445 condors for 1.65, SPX at 4314, IV 24.3%, deltas -.06 +.06

Expiring: Mar 4th 4220/4240-4470/4490 condors, sold yesterday for 1.55.

February Jobs report

#Jobs — Above expectations again

Gain of +678,000 non-farm payroll jobs, vs. expected gain of 444K
Unemployment drops to 3.8%, down by 0.1 (vs. estimate of unchanged)
U6 unemployment at 7.2%, up by 0.1
Labor force participation 62.3%, up by 0.1
Wage growth sluggish at only 0.03%. increase, vs. 0.5% estimate.

December jobs revised up by +78K to +588K
January jobs revised up by +14K to +481K

SPX 1-dte

#SPX1dte Sold to pen $SPX Mar 4th 4220/4240-4470/4490 condors for 1.55, SPX at 4366, IV 31.4%, deltas -.07 +.05

SPX trades

#SPX Sold to close $SPX Mar 2nd 4400/4420 call spreads for 1.95. Bought yesterday for 2.20. This did not work out the way I wanted, as we went lower rather than higher into yesterday’s close. I fortunately got the opening bounce I was looking for, but from the lower level it’s not enough, so I’m closing now to keep the loss small. Theta is a stone-cold killer on options expiring today. I’m not waiting for the small (but possible) chance of a huge spike up based on what Powell says. I’ll save the chips for another day.

#spx1dte

SPX trades

#SPX Bought to open $SPX Mar 2nd 4400/4420 call spreads for 2.20, with SPX at 4305. Just a small trade that we will move up into the close, or open higher tomorrow. Looking for a double or triple, not the full 20 spread.

#spx1dte

SPXpire

#SPX1dte Expired: $SPX Feb 28th 4190/4210-4490/4510 condors, sold Friday for 1.35

SPX 1-dte

#SPX1dte Sold to Open $SPX Feb 28th 4190/4210-4490/4510 condors for 1.35, SPX at 4377, IV 21%, deltas -.06 +.04.

Giving myself a lower delta on call side in case rally continues.