Today reminded me why trading through volatile markets demands both technical skill and emotional restraint.
The SPX whipsawed in both directions, making it difficult for any time-based strategy to stabilize. I entered a 9/23 Double Calendar expecting a slow-moving session, but intraday volatility quickly changed the tone.
💼 Trade Summary
| Detail | Value |
|---|---|
| Date Opened | Wed, Oct 15, 2025 – 10:28 AM |
| Underlying (SPX) | 6720 |
| Lot Size | 1 |
| Initial Debit (Entry) | 76.85 |
| Current Value (EOD) | 75.15 |
| Unrealized P/L | – $170 (– 2.2 %) |
| Strategy | 9/23 DTE Double Calendar |
| Front Expiration | Oct 24 2025 |
| Back Expiration | Nov 7 2025 |
| Status | Open – Carried Overnight |
Option Legs
| Expiry | Strike | Type | Action | Qty | Price |
|---|---|---|---|---|---|
| Oct 24 | 6625 | P | STO | 1 | 31.65 cr |
| Oct 24 | 6805 | C | STO | 1 | 23.05 cr |
| Nov 7 | 6625 | P | BTO | 1 | 66.83 db |
| Nov 7 | 6805 | C | BTO | 1 | 64.72 db |
🧠 Trade Reflection
The market’s intraday swings erased any early signs of theta decay. When I entered, volatility looked stable, but by mid-day the VIX spiked, pushing both long legs higher and compressing short premium.
Instead of forcing an exit, I decided to hold the position overnight, trusting that calmer conditions could allow theta to offset today’s volatility expansion.
It’s a small paper loss, but the bigger test is mental — accepting that not every day will show green on the screen. Some setups need time to breathe.
💬 Mindset Notes
- A 2 % drawdown on a single position isn’t the enemy; emotional overreaction is.
- Today tested whether I truly trust the automation rules I built.
- The real progress is learning to stay flat emotionally when P/L fluctuates.
“Volatility doesn’t test your strategy — it tests your self-control.”
⚙️ Strategy Outlook
- Keep the position open until IV normalizes.
- Avoid adding new trades during macro event clusters.
- Let automation handle overnight adjustments if delta limits are triggered.
⚠️ Disclaimer
The information presented in this blog post is for educational and informational purposes only and is not intended as financial or investment advice. I am not a licensed financial advisor. All trading strategies discussed reflect my personal experience and are not recommendations to buy or sell any security or derivative.
Trading financial instruments such as options, futures, or stocks involves significant risk and may not be suitable for all investors. You should conduct your own research, consider your financial situation, and consult with a licensed financial advisor before making any investment decisions.
Past performance is not indicative of future results. Use of this information is at your own risk.