#SPX1dte Closed $SPX May 28th 2775 puts for .10. Condors sold for 1.10 on Friday. Nice to have risk off so early.
Tag Archives: SPX1dte
SPX 1-dte
#SPX1dte Sold $SPX May 28th 2755/2775-2870/2885 condors for 1.10. (IV: 10.17%, SPX 2828)
SPX 1-dte
#SPX1dte Sold $SPX May 31st 2885/2910 call spreads for 2.60. Rotated one of these this week, so selling another, offset by the 2725/2700 put spread.
SPX 1-dte leg out
#SPX1dte For a refreshing change, legging out worked for me today.
Bought to close $SPX May 24th 2840/2815 put spreads for 5.20. Sold in a condor for 4.55 on 5/16.
Barring disaster, expiring today: May 24th 2735/2755-2860/2880 condors, sold yesterday for .90
SPX 1-dte
#SPX1dte Sold to Open $SPX May 24th 2735/2755-2860/2880 condors for .90 (IV: 16.11%, SPX 2820)
SPX 1-dte
#SPX1dte Closed on GTC order: $SPX May 31st 2920/2945 call spread for .30. Sold Tuesday for 3.00.
Random stuff that may be useful.
So my 5 week full time trading experiment has been over for about 4 weeks now. Not trying to brag, but had my second best trading month ever even in a very choppy market. Over 9% returns for the month on my total portfolio and now up 38% for the total portfolio for the year as of this last weekend. Several losing trades in there as well.
So ran a few experiments and noticed a few things about the market in live time.
1. While tastytrade has found that the best time to sell options is 45 DTE, it takes a long time for the decay to occur, especially if the ticker moves. I found that there is a huge theta crush from 21 DTE to 14 or 7 DTE for OTM options. You will be closer to the money than 45 DTE, but the theta decay is huge. I may have posted this already and if so sorry for the repeat, but I was in EXPE and several other trades. Had opened both 45 DTE and 21 DTE. It took 3-5 weeks for the 45 DTE options to crush 50% but only 10 days for the 21 DTE to do the same. Recycle capital faster, make more $.
2. #spycraft version 5.1 or so idea. The weekly income is awesome, but then the 5 STD moves crush all your profits and then some. I have been setting up hedges using /ES and SPX and keeping them on almost all the time now. On the big moves down, you can roll for cash and reset the hedge to new levels. You can set up a longer term hedge 90 DTE or so to cover you max loss basically scratching the trade. It will cost more but will prevent the losses. I have not figured out the ideal ratios yet but stay tuned. Plan is to sell 21 day IC or credit spreads, use the cash to buy a few hedges, then roll weekly and keep cash coming in to reduce the hedge cost basis to zero. Other option is convert the spreads to ratios or butterflies. The butterfly seems to limit the losses faster and then if whipsaw no additional losses.
3. Keeping hedges on allows you to be a much more aggressive trader. If the SPX goes to zero, you hedges will be worth much more than your portfolio was. Because of the volatility expansion you can also buy cheaper options than you thought. I have been planning for a 10% drop as my starting point. Then figure out which option would be worth 10k at a 10% drop. Then you can figure out how many contracts to cover your portfolio. Best to do when the VIX is 12. The black swam events seem to be occurring on average 2 times a year since 2015 but are only supposed to happen once every 5 years. I will always have a hedge and will pay for it by selling options or rolling profits from the hedges.
4. #jadelizard and #lizardpies are hugely adaptable. You can often move 3-5 strikes and still take in a credit. You can also skew it to up or downside and really increase returns. If runs through the upper strikes just let it all expire, take the cash, and reset the next week. If it moves down, reset the straddle ATM.
5. #pietrades are still the cash machine but can convert to jade lizards or LEAPs if it really implodes on you.
6. Staying out of earnings trades has been helpful to my equity curve.
7. Staring at 1 and 5 minute charts is mind numbing. Congratulations to those of you that can do it and trade directionally. I can’t and have a lot more fun things to do. I will stay mostly non directional with a slight directional bias and enjoy life and my free time. Most of my trading is on my free time so the less I have to spend trading is more time to do other things. I personally will not take any trade on anything shorter than a 15 or 30 minute chart but my real triggers are now hourly or 4 hour for the weekly trades.
8. Spreads can save your bacon in really volatile markets.
9. Keep enough cash on the sidelines for adjustments and opportunities.
10. There is always another trade or opportunity. If you feel pressured to make a trade, it is probably a bad idea. The less emotional you can be also the better the adjustments/recovery you can make. Think before hitting the confirm and send button and have a plan and stick to the plan if the trade goes against you. Be mechanical in your trading and adjusting. It may seem boring to some but the reason I trade is to make money. I want adrenaline I will go kiteboard or ski and hopefully not break my face again.
11. Having a group to trade with is like extra eyes on the market. Everyone sees different opportunities. Thanks for sharing 🙂
12. Being a specialist pays off. I am a family practitioner but specialists make more in the medical field. Also true in the market. Have a handful of tickers you know, watch and trade. They all have their own personalities and once you know them it is easier to trade them. I think once you have above 10-12 names you are probably trying to do too much. Trading the same tickers over and over has improved my consistency and results. Sure, play the occasional lottery ticket but to pay the bills stick with what you know. And also make sure your tickers are diversified.
Cheers, Chris 🙂
SPX 1-dte
#SPX1dte Closed $SPX May 22nd 2825/2805 put spreads for .10. Condors sold yesterday for 1.00. Flirting with a bit too much volatility lately to allow these to expire comfortably.
SPX 1-dte
#SPX1dte Sold to Open $SPX May 22nd 2805/2825-2895/2915 condors for .95
Also, sold a wider condor, legging in…
Yesterday, sold May 31st 2725/2700 put spreads for 2.10
Today, sold May 31st 2920/2945 call spreads for 3.00
SPX 1-dte stopped
#SPX1dte Tagged my stop level on the opening dip so I’m out with small loss.
BTC $SPX May 20th 2815/2795 put spreads for 1.05. Condors sold for .85 on Friday.
Also, stopped May 31st 2840/2815 put spreads for 8.70. #CondorRoll sold for 6.65 on Thursday.
SPX 1-dte
#SPX1dte Sold $SPX May 20th 2795/2815-2910/2925 condors for .85. (IV: 10.04%, SPX 2873)
Expiring: May 17th 2810/2830-2910/2930 condors, sold yesterday for 1.30.
SPX 1-dte
#SPX1dte Sold to Open $SPX March 17th 2810/2830/2910/2930 condors for 1.30. (IV 13.71%, SPX 2879).
SPX 1-dte
#SPX1dte Stopped out $SPX March 16th 2895/2905 call spreads for 3.05. Condors sold yesterday for 1.20.
Another #CondorRoll, same strikes as I sold earlier for May 31st, but this time a week earlier:
Sold $SPX 2815/2840-2960/2985 condors for 4.55.
SPX smashed
#SPX1dte The biggest up days in history are all during times of market volatility. On a percentage basis, the Fall of 2008 contains five of the top 10 biggest moves UP; a period in which the market was only starting its fall to lose over half its value.
So it is fitting a call spread I could have closed at yesterday’s open for about .45 I now had to stop out for 8.00. Today’s action has provided no pullback opportunities, although I imagine there’ll be one now that I was finally forced out.
BTC $SPX May 17th 2890/2915 call spreads for 8.00. Sold for 2.10 on Monday.
#CondorRoll Sold $SPX May 31st 2815/2840/2960/2985 condors for 6.65
I’m also going to take a loss on today’s monthly condor call side. I cannot risk overnight gap risk on the 2895 short calls.
SPX 1-dte
#SPX1dte Sold $SPX May 16th (monthlys) 2775/2795/2895/2915 condors for 1.20. (IV 16.47%, SPX 2856)
These stop trading tomorrow at the close but will settle with Friday morning’s opening.
Expiring, May 15th 2770/2790/2885/2905 condors, sold yesterday for 1.15
SPX 1-dte
#SPX1dte Sold to Open $SPX May 15th 2770/2790-2885/2905 condors for 1.15 (IV: 15.16%, SPX 2850)
Stopped already
#SPX1dte After selling the condor, SPX moved up from 2868 to top out at 2891, which was within the expected move for Monday. So I had to stop out of the call side for 1.40.
I may sell a same day condor on Monday if the open in quiet, but otherwise this one’s s small loss.
SPX 1-dte
#SPX1dte Sold $SPX May 13th 2770/2790-2920/2940 condors for 1.15. (IV: 14.08%, SPX 2868)
Also, closed SPX May 17th 2960/2985 call spreads for .40. Sold on Monday for 3.15.
SPX closed
#SPX1dte $SPX May 10th 2760/2780-2920/2940 condors closed for .30. Sold yesterday for 2.05. Super high premium paid off on pretty much the expected news on trade talks: “not yet.”
SPX 1-dte
#SPX1dte Sold $SPX May 10th 2760/2780-2920/2940 condors for 2.05. (IV 25.92%, SPX 2864)
A little more aggressive than normal from a delta standpoint, .08 on both sides rather than .06. But in quiet IV times I have gone as high as .10 to get enough premium, and these strikes are decently OTM. Puts 2.9% away and Calls 2.0% away. Yes, it’s possible, and if we get super big news tonight, I may get stopped out tomorrow.
SPX expires
#SPX1dte Expiring: $SPX May 8th 2780/2800/2930/2950 condors, sold yesterday for 1.05.
SPX extra
#SPX1dte An extra bearish trade since that seems to be the new black:
Sold $SPX May 17th (weeklys) 2960/2985 call spreads for 3.15.
SPX 1-dte
#SPX1dte — nice to have some volatility again, allowing for wider condor.
Sold $SPX May 8th 2780/2800-2930/2950 condors for 1.05, IV: 20.7%, SPX 2873.
SPX stopped
#SPX1dte Bought to close $SPX May 6th 2905/2885 put spreads for 1.85. Condors sold for .80 on low-volatility Friday.
Not a good morning to wake up to an ITM spread, but with such a large gap it seemed the move would be faded. Now it looks to have run out of steam, so not taking the chance of a collapse into the close.
IRBT / GOOGL Adventure / SPX1DTE / LABU CVX Short Calls SFIX Expired / FB Assigned/ KNX SQ Short Puts
#bups
$IRBT BTC 5/3 98/102 BUPS for .20. STO at 1.35.
$IRBT STO 5/10 95/100 BUPS for 1.00
$IRBT STO 5/10 100105 BUPS for 2.05 You rock @honkhonk81
$GOOGL Misadventure
Assigned this morning stock $2000 (Yikes) Fortunately stock had a good day and I could close
the 5/3 1190/2000 BUPS at .50 per contract less than a total loss. Sold on 4/30
#spx1dte
$SPX 5/3 2850/2870/2945/2965 will show 90% of profit as market closed finally. Thank you @jeffcp66
#shortcalls
$CVX STO 5/10 119 call at .78. Sold against 5/17 long 125 calls. The 5/3 120 calls expired. Sold for 1.52. If this expires the losing trade (so far) of the long call will be reduced by 2.30. They were bought for $3. And another week possible.
$LABU BTC 5/3 50 call and STO 5/10 51 call at 1.45 added credit (Covered) Thank you @hcgdavis.
#optionsexpiration
$SFIX 28 call (covered)
#assignment
$FB 195 calls
#shortputs
$KNX STO 6/21 30 put at .80
$SQ STO 6/21 65 put at 1.82 Thank you @thomberg1201
Almost escaped
#SPX1dte SPX ended the day right on the line…. my 2945 short calls will likely settle with a debit of 19 to 50 dollars. Condors sold yesterday for .80.
SPX 1-dte
#SPX1dte Sold to Open $SPX May 6th 2885/2905/2970/2985 condors for .80. (IV: 6.77%, SPX 2944)
SPX 1-dte
#SPX1dte Sold $SPX May 3rd 2850/2870-2945/2965 condors for .80 (IV: 12.84%, SPX 2914)
SPX stopped
#SPX1dte Stopped $SPX May 8th 2890/2865 put spread for 5.80. Condor sold for 4.55 on Monday. Been getting whipsawed on these medium-term condors. Small losses but certainly annoying. The 1-day jobbers are easier.
Expiring in the nick of time
#SPX1dte 2890/2910-2965/2980 condors, sold yesterday for 1.10. If the market had another 30 minutes the put side might be in trouble. Pretty sharp drop into the close, after notching a new intraday all-time high earlier today.
SPX 1-dte
#SPX1dte Sold to Open $SPX May 1st 2890/2910-2965/2980 condors for 1.10. (IV: 9.61%, SPX: 2942)
SPX stopped out
#SPX1dte BTC $SPX Apr 30th 2920/2900 put spreads for 1.95. Condors sold yesterday for .80.
SPX 1-dter
#SPX1dte We get an extra series this week, since the EOM (end-of-month) options expire on Tuesday.
Sold to Open $SPX Apr 30th 2900/2920-2970/2985 condors for .80. (IV: 8.73%, SPX: 2948)
SPX rolling
SPX 1-dte
#SPX1dte Since I closed today’s call spread on Friday, I moved it up 5-points and sold one again:
Sold $SPX Apr 29th 2955/2965 call spreads for .75.
Expirations / Closed SPX Early / 1 DTE SPX / Assigned XLNX / STO NFLX TSLA BUPS
#optionsexpiration
$FB 195 calls (covered)
#spxcampaign
$SPX BTC 4/26 2930/2955 BECS at 1.40 STO 4/22 at 3.17 The put side sold for 1.63 and expired. Thank you @jeffcp66
#spx1dte
$SPX STO 4/29 2875/2895/2950/2965 IC at 1.30 Thank you @jeffcp66
#earnings
$XLNX Assigned at 128. STO 4/26 128 put at 2.30 before earnings. Stock now at 118.93. Will cover.
#shortputs
$NFLX STO 5/17 350/355 BUPS at 1.35
$TSLA STO 5/17 245/250 BUPS at 1.95 Hope I was early, not wrong.
SPX 1-dte
#SPX1dte Sold to Open $SPX Apr 29th 2875/2895-2950/2965 condors for 1.35. (IV: 6.89%, SPX 2929)
SPX 1-dte
#SPX1dte Sold to Open $SPX Apr 26th 2875/2895-2950/2970 condors for 1.00. (IV: 9.36%, SPX: 2929)
SPX call spread closed
#SPX1dte BTC $SPX Apr 26th 2930/2955 call spread for 5.25. Condors sold Monday for 4.75. Puts will expire. We’ll just forget that ever happened.
SPX 0-dte
#SPX1dte Since I plumb forgot to sell this yesterday, selling it this morning:
Sold $SPX Apr 24th 2890/2910-2945/2960 condors for .95. Expires today. (IV: 8.02%, SPX 2932)
Sometimes because volatility is higher in the morning, and because morning gaps can be accounted for, this sometimes can be a better approach that selling at the previous day’s close.
SPX flying
#SPX1dte As soon as I give up on the move I’ve been waiting for, it happens. Now I’m stuck with a 2930 short expiring this Friday. I will be rolling it, but not sure how or when yet.
SPX 4-dte
#SPX1dte I am tempting the market to do something. I hope it doesn’t.
Sold $SPX Apr 26th 2850/2875/2930/2955 condors for 4.75.
Expiring today: Apr 22nd 2855/2875/2930/2945 condors, sold Thursday for .80
SPX 1-dte
#SPX1dte Sold $SPX Apr 22nd 2855/2875-2930/2945 condors at .80 (IV: 5.49%, SPX: 2904)
SPX 6-dte closed
#SPX1dte Bought to close $SPX Apr 24th 2900/2875 put spreads for 5.35. Sold for 6.95 on Monday. Index has not performed well for being under a (minor) upside warning, and this spread has bounced in and out of profit. Taking the profit while I can.
SPX 1-dte
#SPX1dte Sold to Open $SPX Apr 18th (weeklys) 2850/2870-2925/2945 condors for .90. (IV 9.42% SPX 2901)
I’m going to close the put side of my monthly spread to avoid gap risk. Hopefully for .10, but may be .15 or .20.
SPX 0-dte
#SPX1dte A little confusing with this being monthly expiration week but Friday a holiday. The monthly options stop trading today at the close and are settled at the open tomorrow. Then the weeklys, that normally settle at Friday’s close, will settle at Thursday’s close. So to get a piece of each series, I sold the monthlys now as a same-day trade, and I’ll sell the weeklys before the close today.
Sold to Open $SPX April 17th (monthlys) 2855/2875-2930/2950 condors for .75. I may look to close today to avoid gap risk. (IV 12.5%, SPX: 2907)
SPX 1-dte
#SPX1dte Sold $SPX Apr 17th 2865/2885-2930/2950 condors for .80. (IV: 8.05%, SPX: 2908)
SPX 15-dte
#SPX1dte Sold another roll: $SPX Apr 30th 2790/2810/2950/2970 condors for 3.80. (IV: 10.85% SPX: 2902)
SPX 1-dte
#SPX1dte BTC $SPX April 17th 2725/2750-2940/2965 condors for .50. Sold for 2.85 as a roll on April 1st.
SPX 0-dte
#SPX1dte Sold $SPX Apr 15th 2865/2885-2915/2925 condors for 1.00. Expire today (IV: 7.66%, SPX: 2904)
SPX 1-dte
#SPX1dte Closed $SPX Apr 15th 2850/2830 put spreads and 2920 short calls for 1.40 total. Sold yesterday for 1.25. Leaving the 2940 long calls. Upside warning being reinstated today (VIX lowest since early October) and traded within expected move, so I’m out. May try to sell another same-day on Monday morning. The one from today is expiring:
SPX Apr 12th 2860/2880-2920/2935, sold for .80 this morning.
SPX 0-dte
#SPX1dte Since I sold Monday’s condor yesterday, selling today’s today.
Sold $SPX Apr 12th 2865/2885-2920/2935 condors for .80. Tight leash… if we get a face-blasting rally I’ll back out.
Expiration
SPX 1-dte call side closed
#SPX1dte BTC $SPX April 10th 2900 calls for .10. Closing before FOMC minutes released at 2p ET. Condor sold for .80 yesterday.
SPX 1-dte
#SPX1dte Sold $SPX Apr 10th 2825/2845-2900/2925 condors for .80. (IV: 8.99%, SPX: 2877)
SPX 9-dte
#SPX1dte Another roll: Sold $SPX Apr 17th (weekly) 2815/2840-2925/2950 condors for 4.95.(IV: 10.38%, SPX: 2893)
Also expiring today: Apr 8th 2835/2855-2915/2925 condors, sold Friday for .70.
SPX 1-dte
#SPX1dte Sold $SPX Apr 8th 2835/2855-2915/2925 condors for .70 (IV: 6.21%, SPX: 2889)
SPX 1-dte
#SPX1dte Sold $SPX Apr 5th 2825/2845-2910/2925 condors for .95 (IV: 10.36% SPX: 2877)
SPX condor roll
#SPX1dte #VIXIndicator No upside warning today so I’m selling both sides:
Sold $SPX April 12th 2800/2825-2910/2935 condors for 6.30 (IV 11.82%, SPX 2875)
SPX 1-dte closed
#SPX1dte Closed Z$SPX Apr 3rd 2885/2895 all spreads for 1.60. Condors sold yesterday for 1.15, so .45 loss. Too tight with the low IV.
SPX 1-dte
#SPX1dte Sold $SPX April 3rd 2820/2840-2885/2895 condors for 1.15. (IV 8.55% SPX 2866)
Also BTC Apr 5th 2865/2890 call spreads for 9.70. I’m eating a day to roll this. If we get $VIX closes below 13.55 today and tomorrow, it should mean a push in the short-term toward 2900. I’ll sell aggressively based on tomorrow’s action.
SPX roll
SPX 1-dte and final trades
#SPX1dte Sold $SPX April 1st 2790/2770 put spreads for .45. This is a roll-up from the puts closed this morning. I’m leaving the 2855/2875 call spread in place.
Expiring: March 29th 2770/2790-2845/2860 condors, sold this morning for 1.10.
#Earnings $CCL #IronButterfly from Monday a flop… exercising for loss of 1.25 on the sale for 2.25.
SPX 1-dte update
#SPX1dte Closed $SPX April 1st 2740/2720 put spreads for .10. Sold as part of condor yesterday… condor for 1.00, put side was .41 of that.
SPX 6-hte
#SPX1dte Since I messed up and sold Monday’s expiration yesterday, I’m selling TODAY’s expiration now.
Sold $SPX March 29th 2770/2790-2845/2860 condors for 1.10. Expires tonight. (IV 12.71% SPX 2824)
IV is high enough that it isn’t too risky to get decent premium. From a delta standpoint I’m being more aggressive on the call side, but we haven’t seen any blistering rallies on Friday afternoons lately.
SPX 1-dte, er, 2-dte
#SPX1dte Sold $SPX April 1st 2720/2740-2855/2875 condors for 1.00 (IV: 11.32%, SPX 2811). Meant to sell March 29th but I sold Monday’s.
SPX ITM puts closed
#SPX1dte I got punched around pretty bad in March with a couple of 1-dte breaches and failed attempts at rolling. This reverse roll was the worst; had I left the call spread it would have ben fine. Thank God for strong months like February to eclipse small losing months like March.
BTC $SPX March 29th 2820/2800 put spreads for 8.50. Sold for 4.80 on March 19th as a #ReverseRoll.
SPX 1-dte puts closed
#SPX1dte Bought to close $SPX March 27th 2755 short puts for .10. Allowing remainder to expire. Condors sold yesterday for 1.20.
SPX 1-dte
#SPX1dte Sold $SPX Mar 27th 2735/2755/2840/2855 condors for 1.20. (IV: 13.97%, SPX 2806)
Also, BTC March 29th 2860/2885 call spreads for 1.05. Sold for 3.75 on Friday.
SPX 1-dte puts closed
#SPX1dte Filled at 9:14am ET on $SPX Mar 25th 2755/2735 put spreads for .25 (bought to close). Condors sold Friday for 1.00. Order in to close short 2855 calls for .05.
SPX 1dte sold
#SPX1dte Sold $SPX March 25th 2735/2755/2855/2875 condors for 1.00 (IV: 11.64%, SPX: 2809)
SPX 27-dte roll
SPX 1-dte stopped
#SPX1dte I can say I was not expecting this after yesterday, but clearly volatility is coming back for at least a visit, if not to stay longer this time. Also getting too loose with my rules…. stop level was hit on the first dip. But it never fails that when I follow my rule and dump out for breakeven, the day ends flat. If I let it go, then we end up ITM. This is two big hits in the month, so must change my ways. Thank God Feb was so strong for my accounts!
BTC $SPX March 22nd 2810/2790 put spreads for 5.00. Condors sold for .80 yesterday.
With the warning signal from the VIX looking to sell a week-out call spread. Also have the March 29th 2820/2800 put spreads, now ITM. Will give these until Monday to see if this is a head fake and look to roll it then.
SPX 1-dte
#SPX1dte Sold to Open $SPX March 22 2790/2810/2880/2890 condors for .80. (IV: 10.86%, SPX 2851)
Also, closed $SPX March 22 2780/2755 put spreads for .10. Sold for 3.45 on March 13th.
SPX 1-dte closed
#SPX1dte Earlier, bought to close $SPX March 20th 2870 short calls for .05.
Just now, BTC 2790/2770 put spreads for .10.
Sold condors yesterday for .75. Chose to not allow to expire as FOMC announcements are unpredictable. Now, however, as we are dead flat, things look safe for expiry.
Options Bistro 