#SPX1dte Sold to Open $SPX June 2nd 3995/4015-4190/4210 condors for 1.575, SPX at 4104, IV 26.2%, deltas -.06 +.06

Expired: June 1st 4030/4050-4240/4260 condors, sold yesterday for 1.55.

#SPX1dte Sold to Open $SPX June 1st 4030/4050-4240/4260 condors for 1.55, SPX at 4143, IV 27.8%, deltas -.07 +.05.

#SPX1dte The inevitable Murphy’s Law struck, and of course, the first day I go long is the first day in a couple weeks that neither side of the condor is threatened. Unless we get a violent mid-day move, this one is a loss of 1.60, which is what I purchased it for. Part of the problem today was that the market spiked 15 points HIGHER after I bought the condor on Friday. This set me up nicely for a profit on a spike higher this morning. But instead, we got a spike lower, meaning the put side was just too far away for meaningful profit. The struggle continues…

#SPX1dte BOUGHT to Open $SPX May 31st 4000/4020-4235/4255 condors for 1.60. SPX at 4142, IV 16.2%, deltas -.06 +.06

Yes, I am BUYING this one, since just about every day for a couple months has offered a higher spread price than my entry, even on the days things settled quickly and they expire worthless. The biggest trick will be WHEN TO EXIT. This morning I may have been happy with 4.50 as an exit on the call side… but over 15.00 eventually became available. But suffice it to say, I only need to make about 1.00 per day to meet the goals of this strategy.

I will probably alternate between long and short, and definitely switch back to short when volatility settles.

Weekly summary:
3 wins, +4.45
2 losses, -3.65
Total: +.80 for the week

#SPX1dte Bought to close $SPX May 27th 4135/4155 call spreads for 3.00. Condors sold yesterday for 1.45.

#SPX1dte. Unadvisedly waited it out and call side expired worthless.

Sold to Open $SPX May 27th 3925/3945-4135/4155 condors for 1.45, a few minutes after the closing bell.

#SPX1dte Stop hit on the 4065/4085 call side, so looking to exit. This pretty much means that literally every other day this strategy hits its stop point, and it can be either on the put or call side. It may be prudent to alternate between short and long spreads. It seems each volatile day is followed by a more docile one, and vice versa. In any case, it’s the first prolonged period since the 2020 crash that this strategy has struggled.

Bought to close $SPX May 26th 3960/3940 put spreads for .05. Condors sold yesterday for 1.75

#SPX1dte Sold to Open $SPX May 26th 3840/3860-4065/4085 condors for 1.70, SPX at 3971, IV 31.6%, deltas -.06 +.06

#SPX1dte Bought to close $SPX May 24th 3825/3805 put spreads for .10. Condors sold for 1.75 yesterday. Call side still pretty far from stop point.

#SPX1dte Sold to Open $SPX May 25th 3805/3825-4040/4060 condors for 1.75, SPX at 3937, IV 33.6%, deltas -.06 +.06

#SPX1dte Bought to close $SPX May 24th 3860/3840 put spreads for 3.85. Condors sold yesterday for 1.75.

This has been pretty rough last few weeks. It’s rare that every other spread is stopped out. If it continues I will have to suspend the campaign or examine the pattern to see if certain days should be avoided.

#SPX1dte Sold to Open $SPX May 24th 3840/3860-4060/4080 condors for 1.75, SPX at 3971, IV 31.3%, deltas -.05 +.06

#SPX1dte Bought to close $SPX 3750/3730 put spreads for .10. Condors sold Friday for 1.50.

#SPX1dte Sold to open $SPX May 23rd 3730/3750-4015/4035 condors for 1.50, SPX at 3887, IV 23.7%, deltas -.06 + .06

#SPX1dte Bought to Close $SPX May 20th 3800/3780 put spreads for 4.45. Condors sold yesterday for 1.65.

Rough week, with two stops on the put side, both with relentless down moves with little bounce opportunities. Wednesday turned out to be a 4% down day so I couldn’t risk waiting for a bigger bounce today. It’s already a dollar cheaper than my fill.

#SPX1dte Sold to Open $SPX May 20th 3780/3800-4050/4070 condors for 1.50, SPX at 3924, IV 37.15%, deltas -.06 +.06

#SPX1dte Bought to close $SPX May 19th 3780/3760 put spreads for .15. Condors sold yesterday for 1.20.

Now with a day job, I will likely be closing spreads early for pennies more often than I used to, as I can’t watch the markets closely. In today’s case, not too concerned about upside risk, so only closed puts.

#SPX1dte Sold to Open $SPX May 19th 3760/3780-4030/4050 condors for 1.20, SPX at 3916, IV 37%, deltas -.06 +.06.

Premium kind of disappointing for such a volatile day, but I’m guessing it may have something to do with this being the first Thursday expiration.

#SPX1dte Not much relief from today’s drop, but got out on a slight bounce.

Bought to close $SPX May 18th 3965/3945 put spreads for 6.00. Condors sold yesterday for 1.60.

#SPX1dte Significant spike down, and my stop hit when we went under 4000. Looking to close put side with first bounce.

#SPX1dte Sold to Open $SPX May 18th 3945/3965-4160/4180 condors for 1.60, SPX at 4078, IV 29.2%, deltas -.06 +.07

#SPX1dte Sold to Open $SPX May 16th 3855/3875-4130/4150 condors, SPX at 4019, IV 22.7%, deltas -.06 +.06

#SPX1dte Bought to close $SPX May 13th 4050/4070 call spreads for 3.35. Condors sold yesterday for 1.65.

#SPX1dte Sold to Open $SPX May 10th 3825/3850-4125/4150 condors for 1.90, SPX at 3996, IV 41.45%, deltas -.05 +.06. (wings are 25 wide)

#SPX1dte Bought to close $SPX May 9th 3990/3970 put spreads for 2.90. Condors sold for 1.80 on Friday.

#SPX1dte Sold to Open $SPX May 9th 3970/3990-4255/4275 condors for 1.80, SPX at 4127, IV 23.4%, deltas -.06 +.06

Expiring: May 6th 3960/3980-4275/4295, sold yesterday for 1.70.

#SPX1dte Sld to Open $SPX May 6th 3960/3980-4275/4295 condors for 1.70, SPX at 4138, IV 45.2%, deltas -.06 +.06

Jobs report is before the open!

#SPX1dte. I committed the cardinal sin… again… I just refused to believe we’d go too much over a 2% increase on the day, so I ignored when we passed the stop levels. Turned into an 8.00 loss. Frankly, I am lucky it wasn’t the max loss.

#SPX1dte Sold to Open $SPX May 4th 4000/4020-4290/4310 condors for 1.90, IV 40.6%, deltas -.06 +.06
High IV and premium due to Fed announcement.

Expiring: May 3rd 3990/4010-4260/4280 condors, sold yesterday for 1.85

#SPX1dte Sold to Open $SPX May 3rd 3990/4010-4260/4280 condors for 1.85, SPX at 4144, IV 37.7%, deltas -.06 +.07

Expiring: May 2nd 3900/3925-4265/4290 condors, sold Friday for 1.60.

#SPX1dte Sold To Open just after the closing bell: $SPX May 2nd 3900/3925-4265/4290 condors for 1.60, SPX closed at 4132, IV 27.8%, deltas -.06 +.06. *** 25-wide ***

#SPX1dte Bought to close $SPX Apr 29th 4145/4130 put spreads for 1.85. Condors sold for 1.15 yesterday. Was hoping a 4-for-4 week but alas, it was not to be as my stop was hit below 4167. Also, I mistakenly sold 15-wide rather than my usual 20-wide.

I hope y’all sold the crap out of yesterday’s rally.

#SPX1dte Sold to Open $SPX Apr 29th 4130/4150-4395/4415 condors for 1.15, SPX 4289, IV 34.8%, deltas -.06 +.06

#SPX1dte Bought to close $SPX Apr 27th 4020 puts for .10.

#SPX1dte After the close, sold to open $SPX Apr 27th 4000/4020-4280/4300 condors for 1.55. IV 38.6%, deltas -.07 +.06

Futures had dropped 20 points since the close.

#SPX1dte Bought to close $SPX Apr 26th 4160/4140 put spreads for .30. Condors sold yesterday for 1.60. Gotta leave my desk for a couple hours, and in the words of Public Enemy, I Can’t Truss It.

#SPX1dte Sold to Open $SPX Apr 26th 4140/4160-4375/4395 condors for 1.60, SPX at 4293, IV 30.7%, deltas -.05 +.08

First Tuesday series. Small error: I misread my screen, meant to sell the 4380 as the short call so I’m a little riskier on the call side than I’d prefer.

#SPX1dte Sold to Open $SPX Apr 25th 4050/4100-4400/4450 condors for 1.50, SPX at 4275, IV 21.35%, deltas -.05 +.04

Insufficient strikes available on the put side to go with anything less than a 50-point spread. So I went a little safer on deltas as risk is higher.

#SPX1dte Bought to close $SPX Apr 22nd 4300/4280 put spreads for 3.00. Condors sold yesterday for 1.40.

$SPX options expiring Tuesdays start next week… not sure when they plan to start Thursdays but maybe someone will look it up.
#SPX1dte

#SPX1dte Sold to Open $SPX Apr 22nd 4280/4300-4475/4495 condors for 1.40, SPX at 4398, IV 24.75%, deltas -.06 +.07

#SPX1dte Sold to Open $%SPX Apr 20th 4355/4375-4515/4535 condors for 1.35, a few minutes after the closing bell. Closing SPX: 4463, IV 19.5%, deltas -.06 +.06

#SPX1dte Sold to Open $SPX Apr 18th 4280/4300-4480/4500 condors for 1.20, SPX at 4402, IV 12.45%, deltas -.05 +.06

Expiring: Apr 14th 4350/4370-4510/4530 condors, sold yesterday for 1.20

#SPX1dte Sold to Open $SPX April 14th 4350/4370-4510/4530 condors for 1.20, SPX at 4447, IV 19.5%, deltas -.06 +.06. Markets closed Friday so these are Weekly options expiring Thursday.

Expiring: April 13th 4305/4325-4495/4515 condors, sold yesterday for 1.25

#SPX1dte Bought to close $SPX Apr 11th 4415/4395 put spreads for 1.75. Condors sold for 1.65 on Friday.

#SPX1dte Sold to Open $SPX Apr 11th 4395/4415-4565/4585 condors for 1.65, SPX at 4499, IV 12.4%, deltas -.07 +.07

Expiring: Apr 8th 4415/4435-4590/4610 condors, sold yesterday for 1.50.

#SPX1dte Sold to Open $SPX Apr 8th 4415/4435-4590/4610 condors for 1.50, SPX at 4518, IV 20.7%, deltas -.07 +.04

#SPX1dte Bought to close $SPX Apr 6th 4440/4420 put spreads for 2.95. Condors sold yesterday for 1.25

#SPX1dte sold to open $SPX Apr 6th 4420/4440-4590/4610 condors for 1.25, SPX ar 4518, IV 20%, deltas -.06 +.06

#SPX1dte Expiring: $SPX April 4th 4455/4475-4600/4620 condors, sold Friday for 1.15.

#SPX1dte Sold to Open $SPX Apr 4th 4455/4475-4600/4620 condors for 1.15, SPX 4546, 10.2%, delta -.06 +.06

#SPX1dte Bought to close $SPX Apr 1st 4475/4555 put spreads for .35. Condors sold yesterday for 1.20. Normally don’t close before stop is hit, but I don’t have a good feeling about the market today. Also, SPX dropped over 30 points AFTER I sold this yesterday.

#SPX1dte Sold to Open $SPX April 1st 4455/4475-4635/4655 condors for 1.20, SPX at 4560, IV 21.2%, deltas -.06 +.06

Expiring: March 31st 4490/4510-4660/4680 condors, sold yesterday for 1.375

#SPX5dte Sold to close $SPX March 31st 4555/4575 call spreads for 9.85. Condors bought for 16.90 on Monday. Puts sold for 1.30 yesterday. So loss of 5.75. What a disappointment. Another Upside Warning that has fizzled out immediately (last one was similar, from Dec 27th, but that time we at least got a few days before a drop). This trade looked like it would survive only a few minutes ago. I have been playing this strategy very conservatively and should have stuck to that approach and sold for 18.00 earlier in the hour.

#SPX5dte Sold to close $SPX March 31st 4545/4525 put spreads for 1.30. Condors bought for 16.90 on Monday. Looking for 20.00 max credit tomorrow on the 4555/4575 call spreads.

#spx1dte

#SPX1dte – at 12:34p PT, Sold to Open $SPX March 30th 4540/4560-4700/4720 condors for 1.15, SPX at 4632, deltas -.07 +.04

#SPX5dte Bought to Open $SPX March 31st 4525/4545-4555/4575 condors for 16.90, with SPX at 4550.

#SPX1dte Expected to expire worthless: March 28th 4410/4430-4590/45610 condors, sold Friday for 1.40

#SPX1dte Sold to Open $SPX March 28th 4410/4430-4590/4610 condors for 1.40, SPX at 4519, OV 12.8%, deltas -.06 +.06

Expiring: March 25th 4405/4425-4585/4605 condors, sold yesterday for 1.45

#SPX1dte Sold to open $SPX March 25th 4405/4425-4575/4595 condors for 1.45, SPX at 4510, IV 19.4%, deltas -.06 +.06

#SPX5dte Bought to Open $SPX March 25th 4445/4465-4475/4495 condors for 16.30, with SPX at 4468.

#spx1dte

#SPX1dte Sold to Open $SPX March 23rd 4430/4450-450/4600 condors for 1.95, SPX at 4513, IV 20.6%, deltas -.12 +.05.

The put side was an error, meant for the 4430 to be short strike, not the long one. But I will let it ride.

#SPX1dte Expiring: $SPX March 21st 4320/4340-4540/4560 condors, sold Friday for 1.60.

#SPX1dte Sold to Open $SPX March 21st 4320/4340-4540/4560 condors for 1.60, SPX at 4461, IV 15.9%, deltas -.07 +.06

Expiring: March 18th 4270/4290-4490/4510 condors, sold yesterday for 1.30.
Also expiring, ill-fated 4060/4040 bear put spread, when I foolishly thought we’d be headed down. Had I bought the same on call side it would be expiring for 20.00 today.

#spx5dte

#SPX1dte Sold to Open $SPX Mar 18th 4270/4290-4490/4510 condors for 1.35, SPX at 4406, IB 28.1%, deltas -.07 +.06.

#SPX1dte Bought to close $SPX Mar 17th (monthlys) 4445/4465 call spreads for 1.75. Condors sold yesterday for 1.75. Lost commissions but otherwise breakeven… can’t risk overnight gap risk since these settle in the morning.

#SPX1dte Sold to Open $SPX March 17th (monthlys) 4160/4180-4445/4465 condors for 1.75, SPX at 4328, IV 28.8%, deltas -.06 +.06. These stop trading at tomorrow’s close… but settle on Friday morning’s open.

#SPX1dte Sold to Open $SPX March 16th 4105/4125-4385/4405 condors for 1.65. SPX at 4268, IV 36.05%, deltas -.05 +.05

#SPX1dte Expiring: $SPX Mar 14th 4030/4050-4335/4355 condors, sold Friday for 1.60

#SPX1dte Sold to Open $SPX March 14th 4030/4050-4335/4355 condors for 1.60, SPX at 4212, IV 24.1%, deltas -.06 +.06

On our way to 4000!

#SPX1dte Sold to Open $SPX March 11th 4110/4130-4355/4375 condors for 1.75, SPX at 4253, IV 31.3%, deltas -.06 +.06

#SPX1dte Bought to close $SPX March 9th 4300/4320 call spreads for 2.60. Condors sold yesterday for 1.75. Stop level hit at the open as we traded over 4250, and the expected range of today’s move was +/-54.