#SPXcampaign Closed $SPX April 13th 2500/2475 put spreads for .45. Sold last Monday for 3.10.

After being whipsawed about six too many times, I’ve made two significant adjustments to survive this volatile period. I plan to stick with this until VIX is below 17.76.

Last week as we cruised higher, I got stopped on 3 call spreads and did nothing. If I’d sat on them, they would have all been winners. If I’d rolled them higher, they also would have been winners. So…

1. If I get stopped out, I need to roll FORWARD, and not reverse roll and don’t sit on my hands.

2. But before stopping out, consider just sitting on the troubled spreads. This is what I did Friday, as I sold a few put spreads early in the day, only to see them get under heavy pressure into the close. I felt certain, since we bounced off 2585 again, and because market keeps whipsawing, that we’d be up today. Wasn’t the most relaxing weekend, but I got the bounce.

So while I’ve closed one put spread today, I’m not selling calls. I’ll look for higher levels tomorrow and then start selling some calls, then wait for the next deep dive before selling puts.

#SPXcampaign Sold $SPX May 11th 2400/2375 put spreads for 1.75. I’m expecting an up day… hopefully a decent rally but it may be muted. If VIX or put/call ratio start acting up, my theory may change.

#SPXcampaign
Sold $SPX Apr 27th 2750/2775 call spreads for 2.35
Sold May 4th 2400/2375 put spreads for 1.60
Sold Apr 20th 2600/2625 put spreads for 10.25. This last one is betting on a bounce for Monday. But if that doesn’t happen I have two weeks to expiration so the flexibility to roll it ITM.

#SPXcampaign Sold $SPX Apr 6th 2475/2450 put spreads for 2.20. This is the spread I took profits on this morning, closing for .55. Now I’m using same strikes again for a new trade.

#SPXcampaign
BTC $SPX Apr 19th 2820/2845 call spreads for .25. Sold for 1.95 on Mar 21st.
BTC $SPX Apr 19th 2825/2850 call spreads for .20. Sold for 1.65 on Mar 19th.

#SPXcampaign $SPX It was nerve-wracking selling calls on Thursday, but this approach is what’s needed with a VIX that can’t get far away from 20.00 in either direction. I closed out my Apr 6th spreads (the calls much too early), and now looking to pick the intraday low to add another put spread.

BTC Apr 6th 2725/2750 call spreads for 1.35. Sold for 3.25 on Thursday.
BTC Apr 6th 2475/2450 put spreads for .55. Sold for 2.80 on March 23rd.

STO May 4th 2400/2375 put spreads for 1.70.

#SPXcampaign Sold $SPX Apr 27th 2460/2435 puts for 1.75.

This does not fit into my approach of selling at extremes, but it is the last hour of the week and I had not sold my standard second put spread. Since VIX has not dropped too much I am not assuming the big down days are over. I will sell some additional calls if we close higher. Or puts if we sell off into the close.

#SPXcampaign Sold $SPX Apr 27th 2800/s825 call spreads for 1.50. Looks like it filled at the high tick of the day.

#SPXcampaign Sold $SPX Apr 27th 2770/2795 call spreads for 1.60. Playing things at the standard distance OTM (.10-.15 delta) while the market is wily.

#SPXcampaign Based on the way this market has been acting, lows that create a bounce this big result in a multi-day rally. While I’m not saying the coast is clear for new all-time highs, we should remain buoyant to bullish at least for a few days. So I’m selling puts rather than calls on an up day (however, the weakness since the initial pop is making this less certain). If we reach back toward 2700 I’ll be playing it more neutrally until the Downside Warning gets canceled, which is not until VIX closed below 12.61.

Sold to Open Apr 27th 2425/2400 put spreads for 1.75. Already up above 2.00 since we’ve sold off from the highs. If you wish to follow, I suggest going with the 2400/2375.

#SPXcampaign Closed $SPX Mar 23rd 2550/2575 call spreads for 1.75. Sold for 9.00 earlier today.

#SPXcampaign Although these have not worked out for me this week, need to get my fix. Since I feel we will likely go lower, I…

sold $SPX March 23rd 2650/2675 call spreads for 9.00 when SPX was at 2652. If these expire worthless it will make up for the 2 call spreads that beat me this week.

#SPXcampaign I love getting short at the lows! Always a joy.

BTC $SPX March 26th 2700/2725 call spreads for 8.50. Sold for 4.30 this morning. I’ll figure how to roll toward the end of the day.

#SPXcampaign I wanted to wait for Fed announcement, but this break above 2720 is too much pressure. The deeper dive I was expecting never came through, and it is expiration day. Can’t risk it any longer.

BTC $SPX March 21st 2710/2735 call spreads for 13.50. Sold for 10.20 on Monday.

#SPXcampaign Sold to Open $SPX Apr 19th (monthlys) 2825/2850 call spreads for 1.65.

This is a position I originally sold ITM and have been rolling. At the beginning of last week I thought I might get out for zero. Not so much. This time I’m rolling into an inverse condor, with expectation that calls will expire an puts will need to be rolled again.

BTC $SPX March 23rd 2790/2765 put spreads for 23.35. Sold for 22.00 on March 2nd.
STO March 29th 2790/2765 put spreads for 20.25
STO March 29th 2760/2785 put spreads for 3.45

#SPXcampaign Betting that we have another warning today:
Sold $SPX Mar 21st 2710/2735 call spreads for 10.50

#SPXcampaign Sold to Open $SPX April 19th (monthlys) 2580/2555 put spreads for 1.70.

#SPXcampaign. Forgot to post earlier: Sold to Open $SPX Apr 13th 2850/2875 call spreads for 1.70