#SPX1dte STOPPED Bought to close $SPX Dec 1st 4655/4675 call spreads for 2.10. Condors sold yesterday for 1.35
#SPX1dte STOPPED Bought to close $SPX Nov 30th 4600/4580 put spreads for 2.50. Condors sold yesterday for 1.35.
#SPX5dte Bought to Open $SPX Dec 3rd 4645/4665-4675/4695 condors for 16.80, with SPX at 4668.
#SPX1dte Sold to Open $SPX Nov 29th 4420/4440-4700/4720 condors for 1.15, SPX at 4614, IV 18.7%, deltas -.07 +.06. My put side dropped 190 points from today’s expiry!
Very foolish not to close today’s 4630/4610 put spread at the open, when it got down to 4.00. I was looking to close then, but reversal happened too fast on me then I took a huge dose of hopium. Now I’m looking for SPX to recover more in this final half hour to minimize (or fingers crossed, eliminate) my losses.
#SPX5dte Expected to expire with max profit of 20.00: Nov 26th 4700/4680 put spreads, bought last Friday for 15.70, so 4.30 profit.
#VIXIndicator Pre-market $VIX high of 28.02. All we needed for cancelation was 22.10.
#SPX5dte Sold to close $SPX 4695/4675 put spreads for 8.35. Calls sold yesterday for 3.00 so 11.35 total. Condors bought for 15.40 last Thursday so 4.05 loss.
These consolidation periods make this strategy more difficult.
#SPX1dte – I forgot to sell one yesterday, but will today for Friday expiration.
#SPX5dte Sold to close $SPX Nov 24th 4705/4725 call spreads for 3.00. Saving put spreads for later. I rarely sell call spreads first as this market relentlessly surprises to the upside. But I feel we’ll have another leg lower, at least today. Condors bought for 15.40 last Thursday.
#SPX5dte Sold to close $SPX Nov 22nd 4720/4740 call spreads for 7.70. Put side sold for 8.20 on Friday, so 15.90 total credit. Condors bought for 15.05 last Tuesday so .85 profit. I wanted to try to ride this higher but I got filled before I could adjust my limit.
#SPX5dte Sold to close $SPX Nov 22nd 4710/4690 put spreads for 8.20. Call side holding for later today or Monday. Condors bought for 15.05 on Tuesday.
#SPX5dte Sold to close $SPX Nov 19th 4670/4650 put spreads for 3.20. I think the bias is to upside but got caught in the huge spike without enough time to alter my bid. Now I need a decent recovery into tomorrow’s close to collect on the call side. Condors bought for 15.45 on Monday.
#SPX5dte Sold to close $SPX Nov 17th 4655/4675 call spreads for 19.00. Condors bought for 16.25 last Thursday.
#SPX5dte Bought to Open $SPX Nov 22nd 4690/4710-4720/4740 condors for 15.05, with SPX at 4714.
#SPX5dte Sold to close $SPX Nov 15th 4675/4655 put spreads for 4.30. Unfortunately still holding call spreads as I missed my fills on the earlier spikes higher. These mornings are crucial to manage properly to keep this strategy robust. When we are opening so near the dead zone, I need to take advantage of the morning swings and make sure to get filled.
#SPX5dte Bought to Open $SPX Nov 17th 4625/4645-4655/4675 condors for 16.25, with SPX at 4651.
#VXXGame My only trade going other than SPX: Bought more $VXX June 2022 10 puts for .30. Adds to the position, now at 0.323 average price. Also have January 2023 10 puts purchased for avg 1.008.
#SPX5dte Sold to close $SPX Nov 10th 4680/4700 call spreads for 5.50. Puts sold yesterday for 3.50, so 9.00, and loss of 6.45 total.
#SPX5dte Sold to close $SPX Nov 10th 4670/4650 put spreads for 3.50. Saving 4680/4700 call spreads for now. Condors bought for 15.45 last Thursday.
#SPX5dte Bought to Open $SPX Nov 12th 4675/4695-4705/4725 condors for 15.25, With SPX at 4700.
#SPX1dte STOPPED, Bought to close $SPX Nov 5th 4595/4615 call spreads for 2.50. Condors sold yesterday for .95. Stop really was hit in pre-market when I should have exited, but fortunately we have faded from the highs so my loss is bearable.
#SPX5dte (formerly #SPX7dteLong) I started this during the depths of the pandmeic-panic in April 2020. I was getting blown out on my #SPX1dte strategy with gap opens that hadn’t happened in years, and I realized it was pretty much guaranteed that the market would move more than 20 points each week. I stuck with it and it turns out it has been a workable strategy even in quieter times. After a weaker performance in Jan-Jun 2021, I started being more active with exits, rather than waiting for expiration. That as helped and you can see the trend improving in recent months. Happy to answer questions, and I can provide more details in the coming weeks.
The chart is tracking PER OPTION gains and losses, so does not account for quantities. Currently, for every $15,000 in each account, I am buying 1 condor per expiry in this strategy, and simultaneously 1 condor per expiry in my #SPX1dte strategy. So for this strategy from April 2020 to present I have made 10K for every 15K in each account.
#Jobs — After two months below, October was ABOVE expectations. Additionally, 235K were added in prior-month revisions.
Gain of +531,000 non-farm payroll jobs, vs. expected gain of 450K.
Unemployment at 4.6%, down by 0.2
U6 unemployment at 8.3%, down by 0.2
Labor force participation 61.6%, unchanged
Average hourly earnings up 0.4%, or 4.9% year over year
September jobs revised up by +118K to +312K
August jobs revised up by +117K to +483K
#SPX5dte Bought to Open $SPX Nov 10th 4650/4670-4680/4700 condors for 15.45, with SPX at 4674.
#SPX5dte Bought to Open $SPX Nov 8th 4605/4625-4635/4655 condors for 16.20, with SPX at 4632.
#SPX5dte Bought to Open $SPX Nov 5th 4580/4600-4610/4630 condors for 16.25, with SPX at 4607.
#SPX1dte Sold to Open $SPX Nov 1st 4515/4535-4640/4660 condors for .90, SPX at 4599, IV 7.2%, deltas -.06 +.06.
Expected to expire: Oct 29th 4515/4535-4630/4650 condors, sold yesterday for .85.
#SPX5dte Sold to close $SPX Oct 29th 4575/4595 call spreads for 9.40. Puts sold yesterday for 5.80, so 15.20 total. Condors bought Monday for 14.55, so .65 profit. Pulling the plug early because of yesterday’s sell-off into the close.
#SPX5dte Sold to close $SPX Oct 29th 4565/4545 put spreads for 5.80. Still holding 4575/4595 call side. Condors bought for 14.55 on Monday.
#SPX5dte Order filled when $SPX was at about 4595: Sold to close Oct 27th 4540/4560 call spreads for 18.50. Puts sold for 3.35 yesterday, so 21.85 total, so 7.10 total profit.
#SPX5dte When $SPX was at 4551, sold to close Oct 27th 4530/4510 put spreads for 3.35. Still holding 4540/4560 call side. Condors bought for 14.75 on Thursday.
#SPX5dte Sold to close $SPX Oct 25th 4515/4395 put spreads for 2.00. Holding calls for now. Condors bought for 14.85 on Monday.
#SPX5dte Bought to Open $SPX Oct 27th 4510/4530-4540/4560 condors for 14.75, with SPX at 4536.
#SPX5dte Bought to Open $SPX Oct 25th 4495/4515-4525/4545 condors for 14.85, with SPX at 4516.
#VIXIndicator Feels like it’s a few days late but it still should mean more upside in the coming days or weeks.
Bought to Open $SPX Oct 22nd 4460/4480-4490/4510 condors for 14.85, with SPX at 4483.
Expiring with max credit of 20.00: Oct 18th 4365/4385 call spreads. Condors bought for 17.30 last Tuesday.
#SPX1dte Expiring worthless: Oct 18th 4380/4400-4515/4535 condors, sold Friday for 1.05.
#SPX1dte Sold to Open $SPX Oct 18th 4380/4400-4515/4535 condors for 1.05, SPX at 4468, IV 8.6%, deltas -.07 +.07
Expiring: Oct 15th 4345/4365-4485/4505 condors, sold yesterday for .95
#SPX5dte Expiring at max credit of 20.00: Oct 15th 4385/4405 call spreads, bought Monday for 17.20. Puts sold yesterday for .80, so total profit of 3.60.
#VIXindicator So we never got much of a drop but it certainly was choppy for a few weeks. $VIX closes tomorrow and Monday below 18.49 will mean an Upside Warning.
#SPX7dteLong Bought to Open $SPX 4415/4435-4445/4465 condors for 15.75, with SPX at 4438.
#SPX7dteLong Sold to close $SPX Oct 13th 4415/4395 put spreads for 16.75. Still holding call side. Condors bought for 16.85 last Thursday. In the recent volatility I have been letting these expire, but after yesterday’s drubbing I need to return to closing these on swings.
#SPX7dteLong Bought to Open $SPX Oct 15th 4355/4375-4385/4405 condors for 17.20, with SPX at 4384.
#Jobs — Second month in a row below expectations, lowest increase of the year
Gain of +194,000 non-farm payroll jobs, vs. expected gain of 500K.
Unemployment at 4.8%, down by 0.4
U6 unemployment at 8.5%, down by 0.3
Labor force participation 61.6%, down by 0.1%
Average hourly earnings up 0.6% vs expected .4%
August jobs revised up by +131K to +366K
July jobs revised up by +38K to +1.091M
#SPX7dteLong Sold to close $SPX Oct 6th 4340/4320 put spreads for 10.90. Still holding call side for any additional bounce today. Condors bought for 17.90 last Thursday.
#SPX7dteLong Bought to Open $SPX Oct 11th 4335/4355-4365/4385 condors for 17.40, with SPX at 4360.
#SPX7dteLong Bought to Open $SPX Oct 8th 4270/4290-4300/4320 condors for 17.90, with SPX at 4292.
#SPX7dteLong Bought to Open $SPX Oct 6th 4320/4340-4350/4370 condors for 17.90, with SPX at 4341
#SPX7dteLong Sold to Close $SPX Oct 1st 4455/4475 call spreads for .70. Condors bought Monday for 15.25. Puts sold for 15.30. So .75 profit.
Expiring today worthless: Sep 29th 4470/4490 call spreads. Condors bought for 15.95 last Thursday. Put side sold for 9.20 on Monday, so 6.75 loss.
#SPX7dteLong Sold to close $SPX Oct 1 4445/4425 put spreads for 15.30. Condors bought for 15.25 yesterday. This is a breakeven move, but I still hold the call spreads until Friday. So any meaningful bounce, even today, will give me profit.
….too bad it got canceled on Friday. This has been the Summer of Swings for the #VIXindicator.
#SPX7dteLong Sold to close $SPX Sep 29th 4460/4440 put spreads for 9.20. Still have the call side for two more days. Bought condors for 15.95 on Thursday.
#VIXindicator Another dud. This is becoming less reliable… need to find another signal to go with the $VIX highs that would indicate a more likely chance of downside follow through.
#SPX7dteLong Sold to close $SPX Sep 22 4415/4435-4445/4465 condors for 15.35. Bought for 17.05 last Thursday, so loss of 1.70. There’s too much risk of a face-ripping event after Fed announcement, so I had to take this off rather than wait for the close.
#SPX7dteLong Bought to Open $SPX Sep 27th 4340/4360-4370/4390 condors for 18.00, with SPX at 4365.
#VIXindicator Let’s see if this one has more depth than the recent head fakes we’ve been getting.
#SPX1dte Woke up at 4:30 to close put side: Bought to close $SPX Sep 20th 4330/4310 put spreads for 3.20. Condors sold for 1.05 on Friday. Looks like it would have been better to wait for the open, but market was falling all night.
#VIXIndicator $VIX finally showed some gumption this morning. Likely downside warning coming at the close.
#SPX7dteLong Sold to close $SPX Sep 17th 4445/4425 put spread for 3.50. I’m kind of back on the bullish train, since the VIX has been tepid, but even so I sold this too early and we are dropping more.
Sold to close Sep 15th 4505/4525 call spreads for 2.50. Sold put side for 12.40 yesterday, so total. Bought for 16.10 last Thursday so 14.90 total, loss of 1.20.
#SPX7dteLong Sold to close $SPX Sep 15th 4490/4470 put spreads for 12.40. Condors bought for 16.10 last Thursday. Call spreads still open. Uncertain where we are headed; Upside Warning still in effect but we’ve had several days of weakness.
#SPX7dtelong In pre-market, sold to close $SPX Sep 13th 4515/4535 call spreads for 8.00. Sold puts yesterday for 8.25, so 16.25 total. Condors bought for 14.70 on Wednesday, so 1.55 in profit.
#SPX7dteLong Sold to close $SPX Sep 10th 4525/4505 put spreads for 5.00. Leaving call spreads for more upside.
Made the mistake of getting spooked by yesterday’s drop, and did not sell this put side then. I should have heeded the Upside Warning and closed it. But hopefully we can revisit the highs around 4545 tomorrow.
#SPX7dteLong Bought to Open $SPX Sep 13th 4485/4505-4515/4535 condors for 14.70, with SPX at 4511.
Today’s 4535/4555 call spread will expire worthless, leaving me only with the 8.00 credit I got for the put side yesterday. Bought for 14.55 last Thursday so 6.55 loss.
#SPX1dte Expected to expire worthless: $SPX Sep 8th 4460/4480-4550/4570 condors, sold yesterday for 1.30.
#SPX7dteLong Sold to close $SPX Sep 8th 4525/4505 put spreads for 8.00. Saving call spreads for the hopeful bounce.
I was travelling last week so was unable to post. For the condor expiring today:
Purchased last Tuesday for 14.30
Sold put side on Thursday for 5.25
Sold call side Friday for 12.00
Total profit: 2.95
#Jobs — August dips, way below expectations
Gain of +235,000 non-farm payroll jobs, vs. expected gain of 720K.
Unemployment at 5.2%, down by 0.3
U6 unemployment at 8.9%, down by 0.3
Labor force participation 61.7%, unchanged
Wages up 4.3% year over year
July jobs revised up by +110K to +1.053M
June jobs revised up by +24K to +962K
#SPX7dteLong Sold to close $SPX Sep 3rd 4535/4555 call spreads for 10.50. Put side sold for 8.00 on Tuesday. Condors bought for 13.75 so total profit of 4.75.
#SPX7dteLong Sold to close $SPX Sep 3rd 4525/4505 put spreads for 8.00. Condors bought yesterday for 13.75.
This strategy has been working much better if I leg out on the swings. When I started it during the pandemic in 2020, the market was moving pretty big, so I could wait for expiration day and usually get the full 20.00. If I exited one side early, there was too much risk it would keep going in that direction. But now with volatility lower, using the swings is a better bet… especially with an Upside Warning and (economic recovery) giving me confidence that dips are short-lived.
#SPX7dteLong Bought to open $SPX Sep 3rd 4505/4525-4535/4555 condors for 13.70, with SPX at 4534.
#SPX7dte Sold to close $SPX Aug 30th 4500/4520 call spreads for 17.50. Put side sold Thursday for 8.25, so 25.75 total credit. Condors bought for 14.20 last Tuesday so 11.55 total profit.
#SPX7dteLong Sold to close $SPX Aug 27th 4485/4505 call spreads for 17.60. Put side sold for 2.75 yesterday so 20.35 total credit. Condors bought for 14.20 on Monday, so 6.15 profit.