SPX trades

#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.

SPX trades

#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

SPX trades

#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

SPX long

#SPX5dte Sold to close $SPX March 25th 4445/4465-4475/4495 condors for 17.60. Condors bought yesterday for 16.30. I got the move, so 1.30 profit is good for 24 hours rather than waiting for more at the risk of a chunky loss.

SPX trades

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

#spx1dte

SPX 1-dte

#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

SPX trades

#SPX1dte Sold to Open $SPX Feb 22nd 4155/4175-4475/4495 condors for 1.80, SPX at 4356, IV 22.1%, deltas -.06 +.06

Expiring worthless: Feb 18th 4225/4245-4475/4495 condors, sold yesterday for 1.50.

#SPX5dte Expiring for max credit of 20.00: Feb 18th 4460/4440 put spreads. Condors bought for 17.50 on Tuesday.

SPX trades

#SPX1dte Sold to Open $SPX Feb 16th 4320/4340-4545/4565 condors for 1.55, at 3pm ET, deltas -.06 +.06

#SPX5dte (3-dte) Bought to Open Feb 18th 4440/4460-4470/4490 condors for 17.50, at 3:39p ET.

SPXpire

#SPX1dte Expiring worthless: $SPX Feb 14th 4210/4230-4545/4565 condors, sold Friday for 1.65

#SPX5dte Expiring with max credit of 20.00: Feb 14th 4560/4540 put spreads. Condors bought last Wednesday for 17.20.

SPX 3-dte

#SPX5dte This is falling under my 5-dte hashtag, but it’s actually 3 trading days to expiry. Since we’re currently trading between 4500 and 4600 and not too close to either, I’m trying this one-off betting we won’t end Monday near here. Hopefully the market will love me on Valentine’s Day .

Bought to open $SPX Feb 14th 4540/4560-4570/4590 condors for 17.20, with SPX at 4567.

SPX trades

#SPX1dte Sold to Open $SPX Jan 26th 4155/4175-4500/4520 condors for 1.95, SPX at 4352, deltas -.07 +.06, IV 36.5%

#SPX5dte Bought to Open $SPX Jan 26th 4340/4360-4370/4390 condors for 18.00, with SPX at 4353.
This is under the “5dte” moniker but it’s only a one-day trade. Pretty good bet each day will swing us at least 20 points away, but I’m only comfortable doing it away from an even 100 multiple…. SPX closes (like yesterday) seem to gravitate toward 00’s.

SPX trades

#SPX1dte STOPPED Bought to close $SPX Jan 10th 4605/4585 put spreads for 6.75. Condors sold for 1.25 on Friday. My two month slide of misery continues. As I posted earlier the $VIX really has not spiked until today, meaning my condors have not been wide enough for this dropping market. Last week I stopped trading the #SPX5dte due to persistent losses, but the 1-dte trades have ALSO been failing at an usually bad rate lately.

SPX trades

#SPX5dte Sold to close $SPX Jan 10th 4770/4750 put spreads for 17.40. Condors bought Tuesday for 16.20. Saving call spreads for any possible run up we get into Monday.

SPX trades

#SPX5dte Sold to close $SPX Jan 7th 4790/4810 call spreads for .50. Sold puts for 16.00 yesterday so .55 profit on the condor.

#spx1dte

SPX trades

#SPX1dte. It is absolutely crazy. As soon as I mention that the SPX1dte strategy is doing well, I get slapped across the face. Was away from my screen for the big drop, exited near the bottom, and now watching as we finally get a bounce. What a horrible stretch I am stuck in.

Bought to close $SPX Jan 5th 4740/4720 put spreads for 13.50. Condors sold yesterday for 1.30.

#spx5dte

SPX 5dte

#SPX5dte, Well, since the day I posted my recent success with the strategy, it has basically been a disaster. In the almost two years since I started this, there has never been such a string of expirations that end in or near the dead zone. I have been hesitant to stop because I’m quite sure that as soon as I do, it will become viable again. But I really don’t have any choice now. I still have trades on for Friday and Monday, but I have to stop placing new ones. I’ll take some time to assess the results and the strategy as a whole.

I will continue to trade with #SPX1dte, as that strategy is doing fine, despite some recent losses due to my mistakes.

I know some of you have followed me on this strategy, but don’t post your experience. I would ask that if you are doing this, to please comment with your experiences and trades. If you have learned from me or anyone on this site, and have had success by following, I think it is only fair that you return the favor and share your experience.

I say this because I got an email from someone saying they had followed me on SPX5dte and found some success with certain adjustments… adjustments that I had not thought of or used. I asked him to please post in the room and share, but he disappeared.

So please, if you learn and make money from following us, share your experiences!

SPX trades

#SPX5dte Sold to close $SPX Jan 5th 4795/4775 put spreads for 7.50. Saving call spreads.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Jan 7th 4760/4780-4790/4810 condors for 15.95, with SPX at 4783.

#spx1dte

SPX trades

#SPX1dte Stopped: Bought to close $SPX Dec 31st 4750/4730 put spreads for 1.00. Condors sold for 1.20 yesterday. Tried to play aggressive on this one but market drop and end of day spoiled the fun.

#SPX5dte Another let down in a long string of them… Upside Warning has stalled and not giving me a strong close for the 4785/4605 call side of today’s long condor. I’m watching. Closed the put side for 5.15 on Tuesday.

SPX trades

#SPX1dte Sold to Open $SPX Dec 31st 4730/4750-4835/4855 condor for 1.20, SPX at 4792, IV 9.9%, deltas -.12, +.06. Aggressive on the put side, although I’m not liking the drop a few seconds after the trade filled.

#SPX5dte Earlier: Bought to Open $SPX Jan 5th 4775/4795-4805/4825 condors for 15.40, with SPX at 4799.

SPXpire

#SPX5dte Expiring with max credit of 20.00: $SPX Dec 29th 4690/4710 call spreads. Condors bought last Wednesday for 16.85, so 3.15 profit.

#SPX1dte Expiring worthless: 4700/4720-4840/4860 condors, sold yesterday for .95.

SPX trades

#SPX5dte Bought to Open $SPX Jan 3rd 4760/4780-4790/4810 condors for 15.95, with SPX at 4785.

#spx1dte

SPX trades

#SPX5dte Bought to open $SPX Dec 31st 4755/4775-4785/4805 condors for 15.60, with SPX at 4780.

#spx1dte

SPX trades

#SPX1dte Bought to close $SPX 4560/4540 put spreads for .10. Taking downside risk off. Condors sold for 1.25 yesterday.

#spx5dte

SPX trades

#SPX5dte Sold to close $SPX Dec 22nd 4695/4715 call spreads for .60. Added to the 19.00 I got from puts, that’s a 2.20 profit.

Bought to Open Dec 27th 4585/4605-4615/4635 condors for 17.60, with SPX at 4603.

#spx1dte

SPX trades

#SPx1dte STOPPED: Bought to close $SPX Dec 20th 4525/4505 put spreads for 4.00. Condors sold for 1.65 on Friday.

#spx5dte

SPX trades

#SPX5dte Sold to close $SPX Dec 17th 4685/4665 put spreads for 17.25. Bought for 17.00 on Monday, so barely above breakeven. I would normally wait for expiration, but can’t afford the risk after this brutal week for this strategy.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Dec 22nd 4665/4685-4695/4715 condors for 17.40.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Dec 15th 4680/4700 call spreads for 1.00. Another one bites the dust. Condors bought for 17.35 last Thursday. Puts sold for 5.80 on Monday, so 6.80 total, loss of 10.55. I certainly have not been reading this market well for my leg outs.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Dec 20th 4610/4630-4640/4660 condors for 17.90, with SPX at 4637.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Dec 13th 4685/4665 put spreads for 3.20. Looking for the afternoon bounce to collect on call side.

SPX trades

#SPX5dte Bought to Open $SPX Dec 15th 4645/4665-4675/4695 for 17.35.

Sold to close Dec 10th 4585/4605-4625/4645 condors for 18.60. Bought on Monday for 18.05. Market losing some stability so not going to risk going into the dead zone tomorrow.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Dec 8th 4570/4590-4600/4620 condors for 19.70. Condors Bought for 18.25 last Thursday, so 1.45 profit.

SPX trades

#SPX5dte Bought to Open $SPX Dec 13th 4665/4685-4695/4715 condors for 17.00, with SPX at 4689.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Dec 10th 4585/4605-4615/4625 condors for 18.05, with SPX at 4609.

Looks like I made exactly the wrong move on Friday by selling the call side of today’s 5-dte. Psychology gets me on those decisions way too often…. VIX was soaring and market was down, so I assume the market will continue down. Instead, I should have looked at the decent premium available for the put side and taken it, risking a small loss, but with a good chance of making it a big win today if we bounced. That would have happened if I hadn’t made the wrong choice. Now I just have to look for a pullback into the close, which is certainly possible with current volatility, but looking unlikely with continuing strength in last couple of hours.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Dec 6th 4605/4625 call spreads for 2.55. Holding put spreads for Monday for hopeful max credit. A bit risky as we have been getting big bounces on this correction, but even if that happens Monday I still think it will be the put side where I get most profit. Condors bought for 18.05 on Tuesday.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Dec 3rd 4665/4645 put spreads for 18.20. Condors bought for 16.80 on Monday. Still holding call spreads.

#spx1dte

SPX trades

#SPX1dte STOPPED Bought to close $SPX Nov 30th 4600/4580 put spreads for 2.50. Condors sold yesterday for 1.35.

#spx5dte

SPX trades

#SPX5dte Bought to Open $SPX Dec 3rd 4645/4665-4675/4695 condors for 16.80, with SPX at 4668.

#spx1dte

SPX trades

#SPX1dte Sold to Open $SPX Nov 29th 4420/4440-4700/4720 condors for 1.15, SPX at 4614, IV 18.7%, deltas -.07 +.06. My put side dropped 190 points from today’s expiry!

Very foolish not to close today’s 4630/4610 put spread at the open, when it got down to 4.00. I was looking to close then, but reversal happened too fast on me then I took a huge dose of hopium. Now I’m looking for SPX to recover more in this final half hour to minimize (or fingers crossed, eliminate) my losses.

#SPX5dte Expected to expire with max profit of 20.00: Nov 26th 4700/4680 put spreads, bought last Friday for 15.70, so 4.30 profit.

SPX trades

#SPX5dte Sold to close $SPX 4695/4675 put spreads for 8.35. Calls sold yesterday for 3.00 so 11.35 total. Condors bought for 15.40 last Thursday so 4.05 loss.

These consolidation periods make this strategy more difficult.

#SPX1dte – I forgot to sell one yesterday, but will today for Friday expiration.

SPX trades

#SPX5dte Sold to close $SPX Nov 24th 4705/4725 call spreads for 3.00. Saving put spreads for later. I rarely sell call spreads first as this market relentlessly surprises to the upside. But I feel we’ll have another leg lower, at least today. Condors bought for 15.40 last Thursday.

SPX trades

#SPX5dte Sold to close $SPX Nov 22nd 4720/4740 call spreads for 7.70. Put side sold for 8.20 on Friday, so 15.90 total credit. Condors bought for 15.05 last Tuesday so .85 profit. I wanted to try to ride this higher but I got filled before I could adjust my limit.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 22nd 4710/4690 put spreads for 8.20. Call side holding for later today or Monday. Condors bought for 15.05 on Tuesday.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 19th 4670/4650 put spreads for 3.20. I think the bias is to upside but got caught in the huge spike without enough time to alter my bid. Now I need a decent recovery into tomorrow’s close to collect on the call side. Condors bought for 15.45 on Monday.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 17th 4655/4675 call spreads for 19.00. Condors bought for 16.25 last Thursday.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Nov 22nd 4690/4710-4720/4740 condors for 15.05, with SPX at 4714.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 15th 4675/4655 put spreads for 4.30. Unfortunately still holding call spreads as I missed my fills on the earlier spikes higher. These mornings are crucial to manage properly to keep this strategy robust. When we are opening so near the dead zone, I need to take advantage of the morning swings and make sure to get filled.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 12th 4705/4725 call spreads for .50. Increased my profit on the condor to 3.50…

…But it also means my #SPX1dte is being stopped out. Looking for an exit on pullback.

SPX trades

#SPX5dte Bought to Open $SPX Nov 17th 4625/4645-4655/4675 condors for 16.25, with SPX at 4651.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 10th 4680/4700 call spreads for 5.50. Puts sold yesterday for 3.50, so 9.00, and loss of 6.45 total.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Nov 10th 4670/4650 put spreads for 3.50. Saving 4680/4700 call spreads for now. Condors bought for 15.45 last Thursday.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Nov 12th 4675/4695-4705/4725 condors for 15.25, With SPX at 4700.

SPX trades

#SPX1dte STOPPED, Bought to close $SPX Nov 5th 4595/4615 call spreads for 2.50. Condors sold yesterday for .95. Stop really was hit in pre-market when I should have exited, but fortunately we have faded from the highs so my loss is bearable.

#spx5dte

SPX7dte/5dte Results

#SPX5dte (formerly #SPX7dteLong) I started this during the depths of the pandmeic-panic in April 2020. I was getting blown out on my #SPX1dte strategy with gap opens that hadn’t happened in years, and I realized it was pretty much guaranteed that the market would move more than 20 points each week. I stuck with it and it turns out it has been a workable strategy even in quieter times. After a weaker performance in Jan-Jun 2021, I started being more active with exits, rather than waiting for expiration. That as helped and you can see the trend improving in recent months. Happy to answer questions, and I can provide more details in the coming weeks.

The chart is tracking PER OPTION gains and losses, so does not account for quantities. Currently, for every $15,000 in each account, I am buying 1 condor per expiry in this strategy, and simultaneously 1 condor per expiry in my #SPX1dte strategy. So for this strategy from April 2020 to present I have made 10K for every 15K in each account.

Screen Shot 2021-11-05 at 7.23.39 AM

SPX trades

#SPX5dte Bought to Open $SPX Nov 10th 4650/4670-4680/4700 condors for 15.45, with SPX at 4674.

#spx1dte

SPX trades

#SPX5dte Expired with max credit of 20.00: $SPX Nov 3rd 4595/4615 call spreads. Put spreads sold for 1.60 on Tuesday, so 21.60 total credit. Condors bought for 15.90, so 5.70 profit.

#SPX1dte Expired worthless: Nov 3rd 4550/4570-4675/4695 condors, sold Tuesday for 1.45.

SPX trades

#SPX5dte Bought to Open $SPX Nov 8th 4605/4625-4635/4655 condors for 16.20, with SPX at 4632.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Nov 5th 4580/4600-4610/4630 condors for 16.25, with SPX at 4607.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Oct 29th 4575/4595 call spreads for 9.40. Puts sold yesterday for 5.80, so 15.20 total. Condors bought Monday for 14.55, so .65 profit. Pulling the plug early because of yesterday’s sell-off into the close.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Oct 29th 4565/4545 put spreads for 5.80. Still holding 4575/4595 call side. Condors bought for 14.55 on Monday.

SPX trades

#SPX5dte Order filled when $SPX was at about 4595: Sold to close Oct 27th 4540/4560 call spreads for 18.50. Puts sold for 3.35 yesterday, so 21.85 total, so 7.10 total profit.

#spx1dte

SPX trades

#SPX5dte When $SPX was at 4551, sold to close Oct 27th 4530/4510 put spreads for 3.35. Still holding 4540/4560 call side. Condors bought for 14.75 on Thursday.

#spx1dte

SPX trades

#SPX5dte Sold to close $SPX Oct 25th 4515/4395 put spreads for 2.00. Holding calls for now. Condors bought for 14.85 on Monday.

#spx1dte

SPX trades

#SPX5dte Bought to Open $SPX Oct 27th 4510/4530-4540/4560 condors for 14.75, with SPX at 4536.

#spx1dte

SPX trades

Expired yesterday:
#SPX5dte Expired with max credit of 20.00: Oct 20th 4445/4465 call spreads, sold last Thursday for 15.75.

#SPX1dte Expired worthless: Oct 20th 4450/4470-4550/4570 condors , sold Tuesday for 1.00.

SPX trades

#SPX5dte Bought to Open $SPX Oct 25th 4495/4515-4525/4545 condors for 14.85, with SPX at 4516.

#spx1dte

SPX trades

#SPX5dte Officially changing the name of my long trade to #SPX5dte from the gangly and inaccurate #SPX7dteLong.

Bought to Open $SPX Oct 22nd 4460/4480-4490/4510 condors for 14.85, with SPX at 4483.

Expiring with max credit of 20.00: Oct 18th 4365/4385 call spreads. Condors bought for 17.30 last Tuesday.

#SPX1dte Expiring worthless: Oct 18th 4380/4400-4515/4535 condors, sold Friday for 1.05.

SPX trades

#SPX1dte Sold to Open $SPX Oct 18th 4380/4400-4515/4535 condors for 1.05, SPX at 4468, IV 8.6%, deltas -.07 +.07

Expiring: Oct 15th 4345/4365-4485/4505 condors, sold yesterday for .95

#SPX5dte Expiring at max credit of 20.00: Oct 15th 4385/4405 call spreads, bought Monday for 17.20. Puts sold yesterday for .80, so total profit of 3.60.

Officially changing the name of my long trade to #SPX5dte from the gangly and inaccurate #SPX7dteLong.