Closing NUGT, SPXpire

#ContangoETFs . I am closing $NUGT at breakeven because I think chances are it will still go higher and I don’t want to get into another $DRIP situation right now.

BTC NUGT June 47 calls for 3.75. Sold for 3.80 on Dec 24.
BTC NUGT Sep 52 calls for 4.75. Sold for 4.80 on Feb 21.

#SPX1dte Expiring: $SPX Feb 26th 2970/2990-3220/3240 condors, sold yesterday for 1.30.

SPX 1-dte

#SPX1dte Sold $SPX Feb 26th 2970/2990-3220/3240 condors for 1.30. IV: 33.19%, SPX 3140, deltas -.06, +.07.

Largest gap open since 2014

#VIXindicator As I said below, this is the first time I’ve had an open gap breach a short strike on the #SPX1dte strategy, which I started in December 2018. Today’s SPX open price was 2.40% below Friday’s close price.

It got me thinking, how often has that happened?

Well, it used to happen fairly frequently, when the SPX price was below 2000. It happened on a fairly steady basis up into 2014.

But the last time it happened was April 10, 2014, when it opened at 1,830.65 (-2.22%). Since then, today was the ONLY day that SPX gapped 2% or more.

Needless to say a Downside Warning fired today as well.

SPX 1-dte

#SPX1dte Bad day. Full loss on 3265/3245 put side. Wipes out about 7 weeks of gains on this strategy. As I said earlier, this was the first time in my 15 months of using this strategy that the open gapped past a short strike. There were some chances to get out for $9 or $10 but I gambled that the situation from there would improve. It didn’t.

SPX 1-dte

#SPX1dte Sold to Open $SPX Feb 24th 3245/3265-3375/3395 condors for 1.40. IV: 11.58%, SPX 3331, deltas -.07, +.07

Expiring: Feb 21st 3295/3315-33405/3425 condors, sold yesterday for .80

SPX 1-dte

#SPX1dte Sold to open $SPX Feb 21st 3295/3315-3405/3425 condors for .80, IV: 11.99%, SPX 3371, deltas -.06, +.05

SPX 1-dte closed

#SPX1dte BTC $SPX Feb 21st 3395 calls for .30. Condors sold for .95 yesterday.