📅 Friday, August 1, 2025
📍 SPX Open: 6,234.47
📍 SPX Close: 6,238.66
Today I took a small intraday Iron Butterfly position — quick in, quick out. The goal was to take advantage of a tightly ranged market with a defined risk setup.
🦋 Trade Details: SPX Iron Butterfly (1 DTE)
- Strategy: Neutral Iron Butterfly
- Entry Time: Same-day
- Strikes:
- Long Put 6,230
- Short Put 6,235
- Short Call 6,235
- Long Call 6,240
- Credit to Open: $440
- Debit to Close: $400
- Capital at Risk: $60
- Profit: +$40
- Return on Risk: +66.67%
- Max Drawdown: –19.8%
- Peak Unrealized Gain: +10.7%
- Exit Reason: Profit-taking on favorable pricing
🧠 Why This Trade?
With SPX pinned around 6,235 and expected to stay range-bound through the day, this was a good candidate for a short-duration income play. No need to force a double calendar setup with weekend risk — this filled the gap.
✅ Recap
- Day: 19
- Strategy: 0 DTE Iron Butterfly
- Capital Used: $60
- Profit: $40
- Return: 66.67%
⚠️ 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.