I opened 9 spreads with the following setup:
Underlying: SPX @ 6322
Initial Premium Paid (per spread): 22.62 db
Total Cost: $20,358
Position Breakdown:
- Short Put (Jul 23, 6265) – 9 contracts @ 4.72 cr (Current: 6.40 db)
- Short Call (Jul 23, 6365) – 9 contracts @ 3.33 cr (Current: 1.80 db)
- Long Put (Jul 28, 6265) – 9 contracts @ 14.96 db (Current: 18.35 cr)
- Long Call (Jul 28, 6365) – 9 contracts @ 15.72 db (Current: 12.05 cr)
Current Market Premium: 22.20
Plan for This Week:
My focus this week is on strictly following my plan —
- Exit if any short delta reaches 0.70
- Or hold until end of the 2nd day
I understand this brings overnight gap risk, but the goal is to let theta decay work in my favor.⚠️ Disclaimer: This is my personal trading journal, shared for educational purposes only. Nothing here is financial advice or a recommendation to buy, sell, or trade. Please do your own research and understand the risks before making any trading decisions.
⚠️ Disclaimer
This blog is for educational and documentation purposes only. It reflects my personal trading journey and is not financial advice. Options trading involves significant risk and is not suitable for all investors. Strategies discussed may not be appropriate for your situation. Past performance does not guarantee future results. Please do your own research or consult with a licensed financial advisor before making any investment decisions.