♟️ Two Trades, One Theme: Preparing for the FOMC Storm
Today was about positioning — not prediction.
With the FOMC meeting tomorrow and mega-cap earnings still on deck, I took two structured trades with the intention of capturing theta decay and potential IV expansion.
✅ Trade 1 – Early Morning Setup
6-lot 2/7 SPX Double Calendar at 6325p/6460c
Underlying at Entry: 6398
Entry Debit per Spread: 21.10
Total Capital at Risk: $12,660
Currently showing a paper loss, mainly from the short put pressure.
🧾 Legs
- Short Put (Jul 31, 6325) – 6 @ 6.59 cr (Current: 13.50 db)
- Short Call (Jul 31, 6460) – 6 @ 4.99 cr (Current: 2.30 db)
- Long Put (Aug 5, 6325) – 6 @ 17.04 db (Current: 26.15 cr)
- Long Call (Aug 5, 6460) – 6 @ 15.64 db (Current: 9.95 cr)
🔄 Trade 2 – Late-Day Rebalance
6-lot 2/7 SPX Double Calendar at 6295p/6440c
Underlying at Entry: 6374
Entry Debit per Spread: 21.25
Total Capital at Risk: $12,750
Currently showing a slight unrealized gain.
🧾 Legs
- Short Put (Jul 31, 6295) – 6 @ 7.19 cr (Current: 8.50 db)
- Short Call (Jul 31, 6440) – 6 @ 5.34 cr (Current: 4.50 db)
- Long Put (Aug 5, 6295) – 6 @ 17.84 db (Current: 19.55 cr)
- Long Call (Aug 5, 6440) – 6 @ 15.94 db (Current: 14.95 cr)
💰 Total Capital Allocated Today:
- Trade 1: $12,660
- Trade 2: $12,750
- Combined Risk: $25,410
This keeps me within my planned allocation, as I generally limit exposure to 50% or less of the account (which started at $50,000).
💭 Reflection
Two trades, one goal — position safely ahead of a binary macro event.
- No directional bet
- Defined risk
- Room for IV expansion and theta to do their work
💡 Sometimes it’s not about predicting the move — it’s about structuring around the uncertainty.
FOMC lands tomorrow. Let’s see how the market reacts.
⚠️ 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.