0DTE screw up - Weekly summary (Aug 26 - Aug 30)
What a mess of a week.
Screwed up on a 0DTE trade. Well, actually the broker screwed my trade by liquidating the short side of it (unnecessarily imo).
Then, I got mad and started overtrading to make up for the loss...and ended up losing more. 😅
More on that later.
Here are the trades of last week:
Opened: #
17 positions this week.
Got super carried away making 0DTE trades.
Sprinkled in my weekly SPY trade, and a few random trend trades.
Need to find a better way to log everything, manually writing everything in excel is starting to be annoying now that I'm entering so many trades.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SPY | open | BCS | 2024-08-26 | 2024-09-27 | 563 | 564 | 0.560000000000001 | 1 | 1.42 | 54.5800000000001 |
| QQQ | open | BCS (IC) | 2024-08-26 | 2024-08-26 | 477 | 478 | 0.28 | 1 | 3.08 | 24.92 |
| QQQ | open | BPS (IC) | 2024-08-26 | 2024-08-26 | 474 | 473 | 0.29 | 1 | 3.08 | 25.92 |
| XSP | open | BCS (IC) | 2024-08-26 | 2024-08-26 | 561 | 562 | 0.45 | 1 | 1.84 | 43.16 |
| XSP | open | BPS (IC) | 2024-08-26 | 2024-08-26 | 561 | 560 | 0.37 | 1 | 1.84 | 35.16 |
| BITO | open | Short Put | 2024-08-26 | 2024-08-30 | 19 | 0 | 0.06 | 1 | 1.05 | 4.95 |
| SPY | open | BPS | 2024-08-27 | 2024-09-06 | 547 | 544 | 0.31 | 1 | 3.08 | 27.92 |
| LW | open | BCS | 2024-08-27 | 2024-10-18 | 62.5 | 65 | 1.15 | 1 | 0.61 | 114.39 |
| QQQ | open | BCS (IC) | 2024-08-27 | 2024-08-27 | 477 | 478 | 0.29 | 1 | 3.08 | 25.92 |
| QQQ | open | BPS (IC) | 2024-08-27 | 2024-08-27 | 475 | 474 | 0.21 | 1 | 3.08 | 17.92 |
| QQQ | open | BCS (IC) | 2024-08-28 | 2024-08-28 | 472 | 473 | 0.39 | 1 | 2.11 | 36.89 |
| QQQ | open | BPS (IC) | 2024-08-28 | 2024-08-28 | 469 | 468 | 0.38 | 1 | 2.11 | 35.89 |
| SPY | open | BCS | 2024-08-28 | 2024-09-27 | 561 | 562 | 0.56 | 1 | 3.1 | 52.9 |
| ALB | open | BPS | 2024-08-27 | 2024-10-18 | 80 | 75 | 1.3 | 1 | 1.41 | 128.59 |
| QQQ | open | BCS (IC) | 2024-08-29 | 2024-08-29 | 479 | 480 | 0.21 | 1 | 3.08 | 17.92 |
| QQQ | open | BPS (IC) | 2024-08-29 | 2024-08-29 | 476 | 475 | 0.21 | 1 | 2.06 | 18.94 |
| QQQ | open | BCS (IC) | 2024-08-30 | 2024-08-30 | 474 | 475 | 0.32 | 1 | 2.1 | 29.9 |
| QQQ | open | BPS (IC) | 2024-08-30 | 2024-08-30 | 472 | 471 | 0.32 | 1 | 2.1 | 29.9 |
| QQQ | open | BCS (IC) | 2024-08-30 | 2024-08-30 | 474 | 475 | 0.32 | 1 | 2.1 | 29.9 |
| QQQ | open | BPS (IC) | 2024-08-30 | 2024-08-30 | 472 | 471 | 0.3 | 1 | 2.1 | 27.9 |
| SPY | open | BCS | 2024-08-30 | 2024-10-04 | 562 | 563 | 0.539999999999999 | 1 | 1.42 | 52.5799999999999 |
| XLP | open | BCS | 2024-08-30 | 2024-09-20 | 82.5 | 83 | 0.2 | 1 | 1.1 | 18.9 |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 560 | 562 | 0.61 | 1 | 1.84 | 59.16 |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 560 | 558 | 0.79 | 1 | 1.84 | 77.16 |
| TLT | open | BCS (IC) | 2024-08-30 | 2024-10-18 | 101 | 104 | 0.3 | 1 | 2.1 | 27.9 |
| TLT | open | BCS (IC) | 2024-08-30 | 2024-10-18 | 93 | 90 | 0.38 | 1 | 2.1 | 35.9 |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 561 | 563 | 0.32 | 1 | 1.84 | 30.16 |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 561 | 559 | 0.96 | 1 | 1.84 | 94.16 |
Closed / Expired: #
What a crazy mess:
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPY | open | BCS | 2024-08-05 | 2024-08-30 | 528 | 530 | 1.05 | 1 | 2.12 | 102.88 | -$97.12 |
| SPY | expired | BCS | 2024-08-30 | 2024-08-30 | 530 | 528 | -2 | 1 | 0 | -200 | |
| SPY | open | BPS | 2024-08-21 | 2024-08-30 | 545 | 542 | 0.29 | 1 | 1.4 | 27.6 | $27.60 |
| SPY | expired | BPS | 2024-08-30 | 2024-08-30 | 542 | 545 | 0 | 1 | 0 | 0 | |
| QQQ | open | BCS (IC) | 2024-08-26 | 2024-08-26 | 477 | 478 | 0.28 | 1 | 3.08 | 24.92 | $12.84 |
| QQQ | close | BCS (IC) | 2024-08-26 | 2024-08-26 | 478 | 477 | -0.09 | 1 | 3.08 | -12.08 | |
| QQQ | open | BPS (IC) | 2024-08-26 | 2024-08-26 | 474 | 473 | 0.29 | 1 | 3.08 | 25.92 | $1.84 |
| QQQ | close | BPS (IC) | 2024-08-26 | 2024-08-26 | 473 | 474 | -0.21 | 1 | 3.08 | -24.08 | |
| BITO | open | Short Put | 2024-08-26 | 2024-08-30 | 19 | 0 | 0.06 | 1 | 1.05 | 4.95 | -$3.10 |
| BITO | close | Short Put | 2024-08-27 | 2024-08-30 | 0 | 19 | -0.07 | 1 | 1.05 | -8.05 | |
| QQQ | open | BCS (IC) | 2024-08-27 | 2024-08-27 | 477 | 478 | 0.29 | 1 | 3.08 | 25.92 | $5.84 |
| QQQ | close | BCS (IC) | 2024-08-27 | 2024-08-27 | 478 | 477 | -0.17 | 1 | 3.08 | -20.08 | |
| QQQ | open | BPS (IC) | 2024-08-27 | 2024-08-27 | 475 | 474 | 0.21 | 1 | 3.08 | 17.92 | $5.84 |
| QQQ | close | BPS (IC) | 2024-08-27 | 2024-08-27 | 474 | 475 | -0.09 | 1 | 3.08 | -12.08 | |
| QQQ | open | BCS (IC) | 2024-08-28 | 2024-08-28 | 472 | 473 | 0.39 | 1 | 2.11 | 36.89 | -$124.11 |
| QQQ | close | BCS (IC) | 2024-08-28 | 2024-08-28 | 473 | 472 | -1.61 | 1 | 0 | -161 | |
| QQQ | open | BPS (IC) | 2024-08-28 | 2024-08-28 | 469 | 468 | 0.38 | 1 | 2.11 | 35.89 | -$139.11 |
| QQQ | close | BPS (IC) | 2024-08-28 | 2024-08-28 | 468 | 469 | -1.75 | 1 | 0 | -175 | |
| ALB | open | BPS | 2024-08-27 | 2024-10-18 | 80 | 75 | 1.3 | 1 | 1.41 | 128.59 | $9.48 |
| ALB | close | BPS | 2024-08-27 | 2024-10-18 | 75 | 80 | -1.17 | 1 | 2.11 | -119.11 | |
| QQQ | open | BCS (IC) | 2024-08-29 | 2024-08-29 | 479 | 480 | 0.21 | 1 | 3.08 | 17.92 | $5.84 |
| QQQ | close | BCS (IC) | 2024-08-29 | 2024-08-29 | 480 | 479 | -0.09 | 1 | 3.08 | -12.08 | |
| QQQ | open | BPS (IC) | 2024-08-29 | 2024-08-29 | 476 | 475 | 0.21 | 1 | 2.06 | 18.94 | -$81.06 |
| QQQ | close | BPS (IC) | 2024-08-29 | 2024-08-29 | 475 | 476 | -1 | 1 | 0 | -100 | |
| QQQ | open | BCS (IC) | 2024-08-30 | 2024-08-30 | 474 | 475 | 0.32 | 1 | 2.1 | 29.9 | -$4.20 |
| QQQ | close | BCS (IC) | 2024-08-30 | 2024-08-30 | 475 | 474 | -0.32 | 1 | 2.1 | -34.1 | |
| QQQ | open | BPS (IC) | 2024-08-30 | 2024-08-30 | 472 | 471 | 0.32 | 1 | 2.1 | 29.9 | -$8.20 |
| QQQ | close | BPS (IC) | 2024-08-30 | 2024-08-30 | 471 | 472 | -0.36 | 1 | 2.1 | -38.1 | |
| QQQ | open | BCS (IC) | 2024-08-30 | 2024-08-30 | 474 | 475 | 0.32 | 1 | 2.1 | 29.9 | $2.82 |
| QQQ | close | BCS (IC) | 2024-08-30 | 2024-08-30 | 475 | 474 | -0.24 | 1 | 3.08 | -27.08 | |
| QQQ | open | BPS (IC) | 2024-08-30 | 2024-08-30 | 472 | 471 | 0.3 | 1 | 2.1 | 27.9 | $2.82 |
| QQQ | close | BPS (IC) | 2024-08-30 | 2024-08-30 | 471 | 472 | -0.22 | 1 | 3.08 | -25.08 | |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 560 | 562 | 0.61 | 1 | 1.84 | 59.16 | -$142.94 |
| XSP | assigned/exercised | BCS (IB) | 2024-08-30 | 2024-08-30 | 562 | 560 | -2 | 1 | 2.1 | -202.1 | |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 560 | 558 | 0.79 | 1 | 1.84 | 77.16 | $75.06 |
| XSP | expired | BCS (IB) | 2024-08-30 | 2024-08-30 | 558 | 560 | 0 | 1 | 2.1 | -2.1 | |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 561 | 563 | 0.32 | 1 | 1.84 | 30.16 | -$20.94 |
| XSP | close | BCS (IB) | 2024-08-30 | 2024-08-30 | 563 | 561 | -0.49 | 1 | 2.1 | -51.1 | |
| XSP | open | BCS (IB) | 2024-08-30 | 2024-08-30 | 561 | 559 | 0.96 | 1 | 1.84 | 94.16 | $32.06 |
| XSP | close | BCS (IB) | 2024-08-30 | 2024-08-30 | 559 | 561 | -0.6 | 1 | 2.1 | -62.1 |
- Closed Net Profits/Loss: $-438.74
SHIT.
Notes and Lessons #
Very bad end to the month. Need to step back and review wth I'm doing with these 0DTE trades. Getting a bit reckless.
Most of the losses was actually because my broker (IBKR) liquidated one half of each side of an iron condor. I guess this is the difference between paper trading and real money trading.
ODTE screw up #
On Aug 28, I sold a 0DTE iron condor on QQQ at calls 472/473 and puts at 469/468. Received a premium of $77, so my max loss should've only been $23. No lose situation, right?
QQQ ended up closing at 471.28, right where I wanted it to. On paper, I should have kept the max profit of $77 and had a nice day.
Unfortunately, after I checked my account, I realized my broker had liquidated the short sides of each spread (472 call; 469 put), but left the long sides to expire worthless.
WTF.
Apparently, they thought I was at risk to be assigned, and since my account doesnt have $47,000 to cover it, I was liquidated.
They liquidated at an extremely shitty prices, and I ended up losing a net total of $263 on this position. When I entered, I thought my max risk/loss was going to be $23. What a kick in the nuts. 😂
Why can't they just liquidate the entire spread together, instead of just one side??
Back to the drawing board #
So, now I need to rethink how I do these 0DTE trades. I need to have a better system than just letting 0DTE run to expiry, because my broker may liquidate and fuck me over again.
The next day, I tried to set up an order to automatically close the position at a certain time (i.e. after 3pm), but for some reason it did not work. The trade did not trigger, and it just went to expiry anyways. Not sure if it is my problem, or IBKR's system.
The day after that, I just manually closed my positions. This is not sustainable in the long run, because I don't want to have to constantly manually close everything.
One idea is to only trade XSP and SPX options which are cash settled, so there is no chance of assignment. The problem is that they are not as liquid as SPY or QQQ.
Another option is to program my own trading system using IBKR's API. This might take awhile to figure out.
On to next week!