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Unusual, my gut told me to short the close....


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#1 cycletimer

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Posted 17 June 2024 - 03:07 PM

Which I did.  I almost NEVER hold positions overnight. I fade the gaps each morning with daily $SPX options and my ave. trade time is less than 60 seconds.  I quit for the day afterwards.  

 

Only about twice per year do I get a gut feeling that tells me to go short.  Because pf how infrequent this is, my four-year track record on these "gut checks" have a 100% batting average.  I've been busy most of the day and haven't glanced at the market.  However, I logged in 10 min. before the close to check prices, something that again, is unusual as I am in-and-out within minutes of the market open and away to go play the remainder of each day.   Not this time....

 

I purchased the Jun 24th $SPX 4475 puts, I sold a credit spread (Jun 21 5580/5530 calls) AND I purchased 10,000 shares of SQQQ, all at 2:59 cst.  



#2 Rogerdodger

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Posted 17 June 2024 - 05:09 PM

trade time is less than 60 seconds.  I quit for the day afterwards.

 

  

 clapping.gif  Isn't it nice to have a life?
 



#3 cycletimer

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Posted 17 June 2024 - 08:32 PM

It is Brother, it is!

#4 12SPX

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Posted 18 June 2024 - 08:55 AM

Which I did.  I almost NEVER hold positions overnight. I fade the gaps each morning with daily $SPX options and my ave. trade time is less than 60 seconds.  I quit for the day afterwards.  

 

Only about twice per year do I get a gut feeling that tells me to go short.  Because pf how infrequent this is, my four-year track record on these "gut checks" have a 100% batting average.  I've been busy most of the day and haven't glanced at the market.  However, I logged in 10 min. before the close to check prices, something that again, is unusual as I am in-and-out within minutes of the market open and away to go play the remainder of each day.   Not this time....

 

I purchased the Jun 24th $SPX 4475 puts, I sold a credit spread (Jun 21 5580/5530 calls) AND I purchased 10,000 shares of SQQQ, all at 2:59 cst.  

Love it you do credit spreads, only real way to make money with options in my view but just curious is that sell the 5530, buy 5580, that's a nice trade I see the 5530 at $4.10? 



#5 cycletimer

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Posted 23 June 2024 - 06:51 PM


[/quote]

Love it you do credit spreads, only real way to make money with options in my view but just curious is that sell the 5530, buy 5580, that's a nice trade I see the 5530 at $4.10?
[/quote]

Sorry for the delay. This is my first trip to this site in almost a week. Yes, I sold the 5300, bought the 5800. I exited this spread on Thursday and make a little over $3200.
I’m looking to enter a similar such trade this week, I’ll scale in, in the event the market moves a little higher into mid-week. Possible cycle top over the next few days, possibly as late as July 1-3rd.

#6 12SPX

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Posted 24 June 2024 - 09:17 AM

Yup I was in hard on Friday selling options on the July cycle as they are insanely priced...