📈 Market Recap
- SPX Weekly Range: ~6400–6475
- VIX: Stayed compressed, ~12–13
- Macro Events:
- CPI report mid-week → mild IV uptick
- Otherwise, summer trading conditions, low volume
⚙️ Executed Trades
📌 Day 29 — Double Calendar
- Entry: Mon, Aug 11, 2025
- Size: Noted as 10-lot
- Exit: Closed same week for +$999 profit
- Return: +4.8%
📌 Day 30 — Double Calendar
- Entry: Tue, Aug 12, 2025 (10-lot)
- Exit: Wed, Aug 13, 2025 @ 22.80 credit
- P/L: +$494 (+2.2%)
📌 Day 31 — Iron Butterfly
- Entry: Wed, Aug 13, 2025
- Exit: Thu, Aug 14, 2025
- P/L: +$65 (+7.43%, ROR: 52%)
📌 Day 32 — Double Calendar
- Entry: Thu, Aug 14, 2025 (3-lot)
- Exit: Fri, Aug 15, 2025 @ 13.00 credit
- P/L: –$1,217 (–23.9%)
💰 Weekly Summary
| Day | Strategy | P/L |
|---|---|---|
| 29 | Double Calendar | +$999 |
| 30 | Double Calendar | +$494 |
| 31 | Iron Butterfly | +$65 |
| 32 | Double Calendar | –$1,217 |
| Total | +$341 |
✅ Total Realized Profit: +$341
📈 Win Rate: 3/4 trades (75%)
📊 Weekly Profit % (on $50k capital): +0.68%
📌 Observations
- Week started strong with 3 consecutive wins.
- The Day 32 trade erased most of the week’s gains after SPX sat in the “valley of death” (minimal movement, max theta bleed).
- Hedging helped earlier in the week but wasn’t enough to offset the final loss.
🧠 Lessons Learned
- Flat weeks are dangerous → DCs lose fast if SPX stays pinned at the short strikes.
- Lot sizing matters → scaling down exposure on low IV weeks may reduce blow-up risk.
- Iron Fly hedges are effective, but DC management still needs stricter stop-loss rules.
⚠️ 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.