SPX stop and roll

#SPXcampaign Closed $SPX May 17th 2535/2510 put spreads for 3.10. Sold Friday for 1.60.
#CondorRoll Increased position size and sold May 18th 2440/2465/2780/2805 condors for 2.20.

The roll leans bullish, with higher premium on the put side, since we are at the bottom of the consolidation range.

SPX condor sold

#SPXcampaign What do you do when you’re bored? A 3-week, 20-delta condor will work. Last one of these I did worked great, so we’ll try again. VIX finally got down to my 17.76 level, but SPX does not yet look like it wants to rally.

Sold $SPX May 4th 2550/2575/2750/2775 #CondorRoll for 7.15.

Also, just filled,
Sold May 11th 2500/2475 put spreads for 1.85.

SPX calls closed

#SPXcampaign Closed $SPX Apr 20th 2750/2775 call spreads for .45. Sold in a #CondorRoll for 7.05 yesterday (call side sold for 3.23). The put side is taking heat.

SPX trades

#SPXcampaign Still getting pressed on some call spreads so rolling. I’m not selling put spreads at these levels… I expect another dip, perhaps not as low as Monday; but I’m waiting for a pullback or VIX below 18.00 before I’ll start getting bullish. Jobs report is tomorrow and no matter what the results, it may be an excuse to sell. I also will be selling half of my double-sized LONG call spread today at or near a triple.

Stopped: $SPX Apr 13th 2670/2695 call spreads for 11.50. Sold for 3.75 on Tuesday. No roll yet.

#CondorRoll: from calls stopped yesterday. (these are the only puts I’m adding)
Sold Apr 20th 2540/2565/2750/2775 condors of 7.05.

Closed Apr 13th 2720/2745 call spreads for 4.80. Sold for 3.65 on 3/28. No roll yet.

Again, JOBS report tomorrow could be a trigger for panic selling, or panic buying.

SPX calls closed

#SPXcampaign Closed $SPX April 13th 2745/2770 call spreads for .50. Sold in a #CondorRoll for 6.30 on 3/26… the call side was sold for 2.95.

SPX calls sold

#SPXcampaign I was trying to stick to my rule of only selling at extremes. My suspicion was that the peak above positive for the morning was the extreme high for the day. For once, I was correct (so far).

Sold $SPX Apr 13th 2720/2745 call spreads for 3.15. Part of a #CondorRoll from puts stopped yesterday. Will try to sell put side on or near an “extreme” low.

SPX whipsaw

#SPXcampaign I have never been so whipsawed in my trading career. I have been stopped out at extremes too many times to count. I am forced now to take a new approach:

1. Tone down the aggression.
2. Only sell at extremes. How do I define extremes? That’s not always easy, but I would say yesterday’s close and today’s close would qualify.
3. Try some cheap long spreads, purchase at extremes. The amount I’m getting eaten alive with short spreads makes me always wish I’d been long rather than short. Need to try it.

That will have to do until VIX gets back below 17.76 (at least), and not comfortable going back to aggressive strategies until it’s below 12.61.

Today:
Stopped $SPX Apr 27th 2770/2795 call spreads for 3.75. Sold yesterday for 1.60. This was well over 4.00 at the highs, which is my stop point, so at least I waited for some pullback.
#ReverseRoll – plan was to sell a condor as a roll, I was filled on put side, then never filled on call side. And then, I had to stop out. Great illustration of how difficult this strategy is in this market.
Sold Apr 4th 2560/2535 put spreads for 1.95. Stopped later for 5.35.

Stopped Apr 13th 2550/2525 put spreads for 5.95. Sold yesterday in a #CondorRoll for 6.30, when a CALL spread was stopped.

Stopped Apr 27th 2550/2525 put spreads for 2.50. Sold yesterday for 1.75. At least I got out on this one at a bounce.