#SPX1dte Sold to Open $SPX Nov 20th 4460/4480-4540/4560 condors for 1.40, deltas -.09 +.10, IV 16.8%

This may be narrowest condor I’ve sold in early AM and also highest deltas. The next deltas out were -.07 and only +.04. So I went more aggressive with a width of 60 rather than 70. Market is expecting a quiet holiday week.

#SPX1dte Sold to Open $SPX Nov 16th 4440/4460-4545/4565 condors for 1.00, deltas -.07 +.06, IV 20%

#SPX1dte Waiting for the open to sell. Call premiums are much higher than put premium at comparable deltas.

#SPX1dte Sold to Open $SPX Nov 13th 4345/4365-4450/4470 condors for 1.00, deltas -.06 +.05, IV 20.3%

#SPX1dte Sold to Open $SPX Nov 10th 4290/4310-4400/4420 condors for .90, deltas -.05 +.05, IV 21.3%

#SPX1dte Sold to Open $SPX Nov 9th 4355/4335 put spreads for .65, delta -.10, IV 20.2%

#SPX1dte Sold to Open $SPX Nov 8th 4345/4325 put sprewads for .60, delta -.08.
Futures trending upward so I will wait until after the open to sell call side.

#SPX1dte Sold to Open $SPX Nov 6th 4295/4315-4405/4425 condors for .85, deltas -.06 +.06, IV 20.9%

#SPX1dte Sold to Open $SPX 4125/4105 put spreads for .70, delta -.08 IV 25.1%

#SPX1dte BTC call side for 2.35. My error was not legging in. With pre-market up I should have only sold puts and waited for open to sell calls. This is the current reality in volatile markets. For same day trades, if pre-market is trending sell only in opposite direction and wait for open spike up or down.

#SPX1dte Sold to Open $SPX Oct 30th 4060/4080-4185/4205 condors for 1.45, deltas -.07 +.07, IV 28.8%

#SPX1dte Sold to Open $SPX Oct 27th 4065/4085-4210/4230 condors for 1.15, deltas -.05 +.06, IV 31%

#SPX1dte Sold to Open $SPX Oct 26th 4110/4090 put spreads for .75, delta -.06, IV 31.3%. Sold after GDP and Jobless data were released.

#SPX1dte Sold to Open $SPX Oct 25th 4160/4180-4310/4330 condors for 1.20, deltas -.06 +.06, IV 19.5%

#SPX1dte BTC $SPX Oct 24th 4145/4125 put spreads for .10. Condors sold yesterday for 1.20.

MACD bearish crossover in futures half-hour ago, but it may be short-lived. Call side stop has not been breached.

#SPX1dte Sold to Open $SPX Oct 24th 4125/4145-4280/4300 condors for 1.20, deltas -.06 +.06, IV 20.3%

#SPX1dte Sold to Open $SPX Oct 23rd 4130/4150-4275/4295 condors for 1.15, deltas -.05 +.05, IV 30.7%

#SPX1dte Sold to Open $SPX Oct 20th 4180/4200-4325/4345 condors for 1.30, deltas -.06 +.07, IV 32.5%

#SPX1dte Sold to Open $SPX 4265/4245 put spreads for .95, delta -.09, IV 31.6%

Futures were flat when jobless claims report came out and then we ticked a bit higher. MACD bullish crossover on 5-min chart. I will look to sell call side and roll up put side if strength continues.

#SPX1dte Sold to Open $SPX Oct 18th 4280/4300-4405/4425 condors for 1.20, deltas -.06 +.07, IV 26.9%

#SPX1dte Rather than getting stopped out in sunny Los Angeles, I’m being stopped out in a cloudless sunny morning of the Colorado mountains.

Bought to close call side for 2.20.

#SPX1dte Sold to Open $SPX Oct 16th 4265/4285-4395/4415 condors for 1.15, deltas -.07 +.05, IV 27%

#SPX1dte. Closed call side for .15 and put side for .35. Profit for day +.75

#SPX1dte Sold to Open $SPX Oct 13th 4275/4295-4405/4425 condors for 1.25, deltas -.06 +.06, IV 27%

#SPX1dte At 37 minutes before the close, Sold $SPX Oct 11th 4360/4365/4370 call butterfly for 1.30. Risking 3.70 to make 1.30. Trade expired worthless.

Market was more subdued today but still was whipsaw swinging. This is first time I have done a narrow butterfly like this; although market was consolidating at 4365 for about 30 minutes, it seemed apparent there would be another move before the close so I took this shot. It succeeded when market shot higher into the close.

No trade for tomorrow to avoid the CPI report aftermath (plus I’m driving to Colorado). I will consider a trade Friday morning. I am breakeven for the week, so I want to break the losing streak, even if it’s only by a dollar or so.

#SPX1dte Had to close put side as this steady march downward has small chance of following through. BTC puts for .25, so profit on day +.85

#SPX1dte Bought to close call side for .15. Today looking less bullish, however, the rallies in last few days started later in the morning so I’m getting out of the way.

#SPX1dte Sold to Open $SPX Oct 11th 4290/4310-4420/4440 condors for 1.25, deltas -.07 +.05, IV 26.3%.

Slight bullish lean based on futures being slightly higher and the 5-day trend. Producer Price Index (PPI) report coming up at 8:30am ET.

#SPX1dte. Neutral trading just not in the cards right now. Closed this morning’s call side for 2.05.

Now I need to worry about the one I sold yesterday. As we’ve been seeing for a third day straight, the move up moves quickly and steadily, then stops when it finds its level. Unfortunately, I just don’t know what that level will be. Yesterday I stopped out but would have been fine. Friday I stopped out and avoided a much bigger loss.

#SPX1dte. Doubling down today. I know, I know, I’ve sworn off pushing boundaries… but I definitely need some catch-up premium in this slump.

Sold to Open $SPX Oct 10th 4260/4280-4385/4405 condors for 1.00, deltas -.05 +.05, IV 25.6%

IV higher in the AM than when I sold yesterday afternoon, as usual. This means I got same premium for a condor that is not much narrower. I will be looking to close one of the legs on each side as soon as premium drops.

#SPX1dte Sold to Open $SPX Oct 10th 4245/4265-4390/4410 condors for 1.00, deltas -.06 +.06, IV 17.9%

#SPX1dte Stopped out of call side for 2.00. This was clearly a day i needed to close when the closing was cheap, and not wait for a stop.

#SPX1dte Sold to Open $SPX Oct 9th 4210/4230-4345/4365 condors for 1.15, deltas -.06 +.06, IV 28.2%

#SPX1dte Another week torpedoed by over-trading on a Friday. Just a blistering reversal that I could not get filled on, so chased all the way to close for 7.80.

Third losing week in a row. I set some new rules for myself last Friday and I stuck with them mostly… until today. My first error was selling before the report. I got stopped out on bottom for a small loss. My second error was selling too soon after the open, but even if I had waited this rally would have stopped me. My last error was not being aggressive enough on exiting when my upside stop was hit.

So the new rule I am implementing today is a temporary halt on trading for CPI report, Fed announcement, and Jobs report days. I will not place trades for these days until current volatility comes down and inflation/interest rate concerns significantly diminish.

#SPX1dte Trying a new one: Sold to Open $SPX Oct 6th 4150/4170-4285/4305 condors for 1.30, deltas -.06 +.06, IV 32.6%, SPX at 4230.

The put side is only 5 points below my last one, since we bounced higher than from when I was stopped out.

#SPX1dte Well, should have stuck to my plan of WAITING, but fortunately I only suffered a loss of .40. The low of the morning so far in $SPX futures breeched my stop level, and then we got a decent enough of a bounce to minimize the cost of closing put side. I closed it for 2.00. I will look for another trade AFTER the open; waiting to see it settle into a range.

#SPX1dte Since I was getting strong premium and decent width of 155 points, I sold this 30 seconds before the reports release:
Sold to Open $SPX Oct 6th 4155/4175-4330/4350 condors for 1.60, deltas -.06 +.06

After the report I have downside pressure but still above my stop.

#SPX1dte Today’s trade expired worthless. Waiting for the morning’s Jobs report before placing the next trade.

#SPX1dte After the close I sold $SPX Oct 5th 4170/4190-4320/4340 condors for 1.10, deltas -.06 +.06, IV 18.7%

#SPX1dte closed that add-on put spread for .70, so breakeven and covered commissions.

#SPX1dte Sold to Open $SPX Oct 4th 4180/4160 put spreads for .75. Sharp down day yesterday so looking for a bounce day. Futures a bit higher now after trending upward for last 6 hours.

#SPX1dte Sold to Open $SPX Oct 4th 4125/4145-4290/4310 condors for 1.05, SPX at 4227, deltas -.05 +.06, IV 20.4%

#SPX1dte Bought to close $SPX Oct 3rd 4205/4185 put spreads for 1.65. Condors sold yesterday for 1.30.

#SPX1dte Sold to Open $SPX Oct 3rd 4185/4205-4330/4350 condors for 1.30, deltas -.06 +.06, SPX at 4276, IV 18.2%

#SPX1dte Closed put side for .15

#SPX1dte Sold to Open $SPX Oct 2nd 4200/4220-4335/4355 condors for 1.20, deltas -.05 +.07, IV 27.9%

I didn’t sell on Friday due to government shutdown possibility. Futures opened higher Sunday on the news a resolution was passed, but have since dropped and gone slightly negative. So I’m leaning a bit bearish on my trade.

#SPX1dte Bullish day not so bullish, closed put spread for .50 to remove all risk.

Two losing weeks in a row, time for some adjustments. I’m going to go back to selling the afternoon before, 1-dte rather than 0-dte, since there hasn’t been a major overnight move since early July. This will give me better width and less chance of stops being hit. I will still stick to 0-dte on days with major announcements or data releases.

I will also reduce supplemental trades, which were the reason for both of these weeks’ losses being bigger than normal. If I’m have a breakeven or slightly losing week, I will either skip the additional or roll trades, or be much more careful when placing them. Stick to the basics, stop trying to push.

I wrote this yesterday but forgot to press “Post”

#SPX1dte Bought to close call side for 1.45. This week, that’s 1 day without a stop (Monday), and 3 days stops were hit. I have been too gunshy to sell in the afternoon, but we have not seen any large overnight moves. I would definitely get more breathing room on the width if I do this, however, stops would still be hit on at least some of these days. None of the stops have actually breeched my short strike so the stops have ended up being unnecessary, but no matter, need to stick to rules.

I’ve been burned a few times this year by skirting the rules. Even so, when I add up all the premium I DIDN’T need to spend closing spreads that ended up not getting breeched, versus all the money I saved by stopping out per the rules and avoiding breeches, I come out over 10.00 (in premium) ahead on the year. Had I consistently followed the rules and stopped out on all the days, that number would be closer to 40.00.

#SPX1dte Sold to Open $SPX Sep 28th 4185/4205-4330/4350 condors for 1.25, deltas -.06 +.06, IV 31.5%

#SPX1dte Sold to Open $SPX Sep 27th 4210/4230-4330/4350 condors for 1.30, deltas -.06 +.07, IV 25.1%