Great start, terrible finish - Weekly summary (Sep 23 - Sep 27)
Had an amazing start to the week.
$300+ profits on Monday.
Should've just stopped trading after that.
But, I did not.
Ended up losing it all and more, with a $300+ loss on Friday. 🥲
Just another expensive options trading lessson.
Opened: #
Traded almost exclusively 0DTE this week. Few other trades sprinkled in:
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | open | BPS | 2024-09-23 | 2024-12-20 | 385 | 375 | 1.12 | 1 | 2.13 | 109.87 |
| XSP | open | BCS | 2024-09-23 | 2024-10-25 | 572 | 573 | 0.619999999999999 | 1 | 1.86 | 60.1399999999999 |
| SPX | open | BCS (IC) | 2024-09-23 | 2024-09-23 | 5730 | 5745 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BPS (IC) | 2024-09-23 | 2024-09-23 | 5675 | 5650 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS (IC) | 2024-09-23 | 2024-09-23 | 5730 | 5740 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BPS (IC) | 2024-09-23 | 2024-09-23 | 5690 | 5670 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS (IC) | 2024-09-23 | 2024-09-23 | 5730 | 5735 | 0.25 | 2 | 4.82 | 45.18 |
| SPX | open | BPS (IC) | 2024-09-23 | 2024-09-23 | 5680 | 5695 | 0.55 | 1 | 3.12 | 51.88 |
| XSP | open | BCS | 2024-09-24 | 2024-11-01 | 578 | 579 | 0.520000000000001 | 1 | 1.86 | 50.14 |
| SPX | open | BCS (IC) | 2024-09-24 | 2024-09-24 | 5755 | 5745 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BPS (IC) | 2024-09-24 | 2024-09-24 | 5705 | 5680 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS (IC) | 2024-09-24 | 2024-09-24 | 5740 | 5750 | 0.7 | 1 | 3.12 | 66.88 |
| SPX | open | BPS (IC) | 2024-09-24 | 2024-09-24 | 5710 | 5695 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS (IC) | 2024-09-24 | 2024-09-24 | 5735 | 5745 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BPS (IC) | 2024-09-24 | 2024-09-24 | 5700 | 5660 | 0.3 | 1 | 3.12 | 26.88 |
| SPY | open | BPS | 2024-09-25 | 2024-10-04 | 558 | 555 | 0.29 | 1 | 3.09 | 25.91 |
| SPX | open | BPS (IC) | 2024-09-25 | 2024-09-25 | 5690 | 5655 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BCS (IC) | 2024-09-25 | 2024-09-25 | 5745 | 5770 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BPS (IC) | 2024-09-25 | 2024-09-25 | 5685 | 5650 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS (IC) | 2024-09-25 | 2024-09-25 | 5740 | 5765 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BPS (IC) | 2024-09-25 | 2024-09-25 | 5695 | 5675 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BCS (IC) | 2024-09-25 | 2024-09-25 | 5735 | 5760 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5700 | 5665 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS (IC) | 2024-09-26 | 2024-09-26 | 5755 | 5780 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5715 | 5685 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BCS (IC) | 2024-09-26 | 2024-09-26 | 5760 | 5790 | 0.3 | 2 | 4.52 | 55.48 |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5720 | 5690 | 0.6 | 1 | 3.12 | 56.88 |
| SPX | open | BCS (IC) | 2024-09-26 | 2024-09-26 | 5760 | 5785 | 0.5 | 1 | 3.12 | 46.88 |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5725 | 5680 | 0.5 | 1 | 3.12 | 46.88 |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5760 | 5790 | 0.65 | 1 | 3.12 | 61.88 |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5710 | 5665 | 0.76 | 1 | 3.12 | 72.88 |
| SPX | open | Put | 2024-09-27 | 2024-09-27 | 0 | 5675 | -0.21 | 1 | 1.56 | -22.56 |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5725 | 5695 | 0.55 | 1 | 3.12 | 51.88 |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5755 | 5780 | 0.35 | 2 | 4.54 | 65.46 |
| SPX | open | call | 2024-09-27 | 2024-09-27 | 0 | 5710 | -4 | 1 | 1.65 | -401.65 |
| SPX | open | Short Put | 2024-09-27 | 2024-09-27 | 5675 | 0 | 0.54 | 1 | 1.65 | 52.35 |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5700 | 5665 | 0.65 | 1 | 3.12 | 61.88 |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5750 | 5775 | 0.5 | 1 | 3.12 | 46.88 |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5725 | 5695 | 0.3 | 2 | 4.52 | 55.48 |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5755 | 5780 | 0.5 | 1 | 3.12 | 46.88 |
| SPX | open | Short Call | 2024-09-27 | 2024-09-27 | 5750 | 0 | 0.75 | 2 | 2.42 | 147.58 |
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPX | open | BCS (IC) | 2024-09-23 | 2024-09-23 | 5730 | 5745 | 0.6 | 1 | 3.12 | 56.88 | $56.88 |
| SPX | close | BCS (IC) | 2024-09-23 | 2024-09-23 | 5745 | 5730 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-23 | 2024-09-23 | 5675 | 5650 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | close | BPS (IC) | 2024-09-23 | 2024-09-23 | 5650 | 5675 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-23 | 2024-09-23 | 5730 | 5740 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | close | BCS (IC) | 2024-09-23 | 2024-09-23 | 5740 | 5730 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-23 | 2024-09-23 | 5690 | 5670 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | close | BPS (IC) | 2024-09-23 | 2024-09-23 | 5670 | 5690 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-23 | 2024-09-23 | 5730 | 5735 | 0.25 | 2 | 4.82 | 45.18 | $45.18 |
| SPX | close | BCS (IC) | 2024-09-23 | 2024-09-23 | 5735 | 5730 | 0 | 2 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-23 | 2024-09-23 | 5680 | 5695 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | close | BPS (IC) | 2024-09-23 | 2024-09-23 | 5695 | 5680 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-24 | 2024-09-24 | 5755 | 5745 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | close | BCS (IC) | 2024-09-24 | 2024-09-24 | 5745 | 5755 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-24 | 2024-09-24 | 5705 | 5680 | 0.55 | 1 | 3.12 | 51.88 | -$76.53 |
| SPX | close | BPS (IC) | 2024-09-24 | 2024-09-24 | 5680 | 5705 | -1.25 | 1 | 3.41 | -128.41 | |
| SPX | open | BCS (IC) | 2024-09-24 | 2024-09-24 | 5740 | 5750 | 0.7 | 1 | 3.12 | 66.88 | $66.88 |
| SPX | close | BCS (IC) | 2024-09-24 | 2024-09-24 | 5750 | 5740 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-24 | 2024-09-24 | 5710 | 5695 | 0.55 | 1 | 3.12 | 51.88 | -$91.33 |
| SPX | close | BPS (IC) | 2024-09-24 | 2024-09-24 | 5695 | 5710 | -1.4 | 1 | 3.21 | -143.21 | |
| SPX | open | BCS (IC) | 2024-09-24 | 2024-09-24 | 5735 | 5745 | 0.6 | 1 | 3.12 | 56.88 | -$61.33 |
| SPX | close | BCS (IC) | 2024-09-24 | 2024-09-24 | 5745 | 5735 | -1.15 | 1 | 3.21 | -118.21 | |
| SPX | open | BPS (IC) | 2024-09-24 | 2024-09-24 | 5700 | 5660 | 0.3 | 1 | 3.12 | 26.88 | -$66.42 |
| SPX | close | BPS (IC) | 2024-09-24 | 2024-09-24 | 5660 | 5700 | -0.9 | 1 | 3.3 | -93.3 | |
| SPX | open | BPS (IC) | 2024-09-25 | 2024-09-25 | 5690 | 5655 | 0.6 | 1 | 3.12 | 56.88 | $56.88 |
| SPX | expired | BPS (IC) | 2024-09-25 | 2024-09-25 | 5655 | 5690 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-25 | 2024-09-25 | 5745 | 5770 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | expired | BCS (IC) | 2024-09-25 | 2024-09-25 | 5770 | 5745 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-25 | 2024-09-25 | 5685 | 5650 | 0.55 | 1 | 3.12 | 51.88 | $51.88 |
| SPX | expired | BPS (IC) | 2024-09-25 | 2024-09-25 | 5650 | 5685 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-25 | 2024-09-25 | 5740 | 5765 | 0.55 | 1 | 3.12 | 51.88 | -$61.53 |
| SPX | close | BCS (IC) | 2024-09-25 | 2024-09-25 | 5765 | 5740 | -1.1 | 1 | 3.41 | -113.41 | |
| SPX | open | BPS (IC) | 2024-09-25 | 2024-09-25 | 5695 | 5675 | 0.6 | 1 | 3.12 | 56.88 | $56.88 |
| SPX | expired | BPS (IC) | 2024-09-25 | 2024-09-25 | 5675 | 5695 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-25 | 2024-09-25 | 5735 | 5760 | 0.6 | 1 | 3.12 | 56.88 | -$66.53 |
| SPX | close | BCS (IC) | 2024-09-25 | 2024-09-25 | 5760 | 5735 | -1.2 | 1 | 3.41 | -123.41 | |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5700 | 5665 | 0.55 | 1 | 3.12 | 51.88 | -$61.53 |
| SPX | close | BPS (IC) | 2024-09-26 | 2024-09-26 | 5665 | 5700 | -1.1 | 1 | 3.41 | -113.41 | |
| SPX | open | BCS (IC) | 2024-09-26 | 2024-09-26 | 5755 | 5780 | 0.6 | 1 | 3.12 | 56.88 | -$106.33 |
| SPX | close | BCS (IC) | 2024-09-26 | 2024-09-26 | 5780 | 5755 | -1.6 | 1 | 3.21 | -163.21 | |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5715 | 5685 | 0.6 | 1 | 3.12 | 56.88 | $56.88 |
| SPX | expired | BPS (IC) | 2024-09-26 | 2024-09-26 | 5685 | 5715 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-26 | 2024-09-26 | 5760 | 5790 | 0.3 | 2 | 4.52 | 55.48 | -$99.06 |
| SPX | close | BCS (IC) | 2024-09-26 | 2024-09-26 | 5790 | 5760 | -0.75 | 2 | 4.54 | -154.54 | |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5720 | 5690 | 0.6 | 1 | 3.12 | 56.88 | $56.88 |
| SPX | expired | BPS (IC) | 2024-09-26 | 2024-09-26 | 5690 | 5720 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS (IC) | 2024-09-26 | 2024-09-26 | 5760 | 5785 | 0.5 | 1 | 3.12 | 46.88 | $46.88 |
| SPX | expired | BCS (IC) | 2024-09-26 | 2024-09-26 | 5785 | 5760 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS (IC) | 2024-09-26 | 2024-09-26 | 5725 | 5680 | 0.5 | 1 | 3.12 | 46.88 | $46.88 |
| SPX | expired | BPS (IC) | 2024-09-26 | 2024-09-26 | 5680 | 5725 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5760 | 5790 | 0.65 | 1 | 3.12 | 61.88 | $61.88 |
| SPX | expired | BCS | 2024-09-27 | 2024-09-27 | 5790 | 5760 | 0 | 1 | 0 | 0 | |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5710 | 5665 | 0.76 | 1 | 3.12 | 72.88 | -$114.43 |
| SPX | closed | BPS | 2024-09-27 | 2024-09-27 | 5665 | 5710 | -1.84 | 1 | 3.31 | -187.31 | |
| SPX | open | Put | 2024-09-27 | 2024-09-27 | 0 | 5675 | -0.21 | 1 | 1.56 | -22.56 | -$4.12 |
| SPX | closed | Put | 2024-09-27 | 2024-09-27 | 5675 | 0 | 0.2 | 1 | 1.56 | 18.44 | |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5725 | 5695 | 0.55 | 1 | 3.12 | 51.88 | -$101.33 |
| SPX | closed | BPS | 2024-09-27 | 2024-09-27 | 5695 | 5725 | -1.5 | 1 | 3.21 | -153.21 | |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5755 | 5780 | 0.35 | 2 | 4.54 | 65.46 | -$167.13 |
| SPX | closed | BCS | 2024-09-27 | 2024-09-27 | 5780 | 5755 | -1.15 | 2 | 2.59 | -232.59 | |
| SPX | open | call | 2024-09-27 | 2024-09-27 | 0 | 5710 | -4 | 1 | 1.65 | -401.65 | -$288.21 |
| SPX | closed | call | 2024-09-27 | 2024-09-27 | 5710 | 0 | 1.15 | 1 | 1.56 | 113.44 | |
| SPX | open | Short Put | 2024-09-27 | 2024-09-27 | 5675 | 0 | 0.54 | 1 | 1.65 | 52.35 | $25.79 |
| SPX | closed | Short Put | 2024-09-27 | 2024-09-27 | 0 | 5675 | -0.25 | 1 | 1.56 | -26.56 | |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5700 | 5665 | 0.65 | 1 | 3.12 | 61.88 | $61.88 |
| SPX | closed | BPS | 2024-09-27 | 2024-09-27 | 5665 | 5700 | 0 | 1 | 0 | 0 | |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5750 | 5775 | 0.5 | 1 | 3.12 | 46.88 | -$66.33 |
| SPX | closed | BCS | 2024-09-27 | 2024-09-27 | 5775 | 5750 | -1.1 | 1 | 3.21 | -113.21 | |
| SPX | open | BPS | 2024-09-27 | 2024-09-27 | 5725 | 5695 | 0.3 | 2 | 4.52 | 55.48 | $55.48 |
| SPX | closed | BPS | 2024-09-27 | 2024-09-27 | 5695 | 5725 | 0 | 2 | 0 | 0 | |
| SPX | open | BCS | 2024-09-27 | 2024-09-27 | 5755 | 5780 | 0.5 | 1 | 3.12 | 46.88 | $46.88 |
| SPX | closed | BCS | 2024-09-27 | 2024-09-27 | 5780 | 5755 | 0 | 1 | 0 | 0 | |
| SPX | open | Short Call | 2024-09-27 | 2024-09-27 | 5750 | 0 | 0.75 | 2 | 2.42 | 147.58 | $147.58 |
| SPX | closed | Short Call | 2024-09-27 | 2024-09-27 | 0 | 5750 | 0 | 2 | 0 | 0 |
- Closed Net Profits/Loss: -$179.27
Notes and Lessons #
Should've quit after the first day.
But, I did not.
Made some huge order entry mistakes on Friday, which cost me hundreds of dollars -- my fat fingers accidentally bought extra long puts. Then, I closed it, but forgot to close the original trade's stop order. So, I ended up with all these weird positions and it was a huge mess.
If not for the super mess up on the last day, would've made a bit of money on the week.
Probably lucky I only lost $179 in the end though.
MEIC Adjustments #
Still experimenting a lot with the 0DTE MEIC (multiple entry iron condor) strategy.
One issue I'm having is getting stopped out too frequently.
I realized that the width of my strikes were too tight, so its easier to stop out due to higher volatility? So, I started to try to take widest widths that my buying power will allow. Usually try for at least 25-30 strike differnece (on SPX).
When I do get stopped out, I'm also getting some really bad fills on market orders. I could set a stop limit, but then I risk getting f*cked if the market moves too fast.
I'm also only aiming for $55-$60 profit per side right now, maybe move up to $70 or so.
Profit target #
Another thing I'm thinking about is whether I should have a profit target for the week. Like if I made $300 profits, I just don't trade for the rest of the week. Would've been beneficial last week for sure.
Maybe set a target at like $500? Not really sure.
On to next week!