Testing new 1DTE strategy - Weekly summary (May 12 - May 16)
Another up and down week.
The last 10 minutes of the day has been killing me recently. The wild up or down swings have pushed me from nice profitable days to losing days.
Started testing a new 1DTE Butterfly strategy this week. First trade was profitable. Woohoo!
Here's the trades from the past week:
Opened: #
| Ticker | Type | Entry Date | Expiry Date | Sell Strike | Buy Strike | Premium | Open Qty | Fee open | Net Premium |
|---|---|---|---|---|---|---|---|---|---|
| SPY | BPS | 2025-05-12 | 2025-06-27 | 540 | 535 | 0.54 | 1 | 2.13 | 51.87 |
| PFE | Short Put | 2025-05-13 | 2025-05-16 | 22.5 | 0 | 0.15 | 1 | 1.54 | 13.46 |
| SPX | BPS (IF) | 2025-05-14 | 2025-05-15 | 5895 | 5885 | 5 | 1 | 3.5 | 496.5 |
| SPX | BCS (IF) | 2025-05-14 | 2025-05-15 | 5895 | 5900 | 2.25 | 1 | 3.3 | 221.7 |
| TLT | BPS (IC) | 2025-05-15 | 2025-06-30 | 81 | 75 | 0.29 | 1 | 3.06 | 25.94 |
| TLT | BCS (IC) | 2025-05-15 | 2025-06-30 | 91 | 96 | 0.32 | 1 | 3.06 | 28.94 |
| IWM | BPS (IC) | 2025-05-15 | 2025-06-30 | 191 | 186 | 0.43 | 1 | 1.42 | 41.58 |
| IWM | BCS (IC) | 2025-05-15 | 2025-06-30 | 223 | 228 | 0.46 | 1 | 1.42 | 44.58 |
| SPX | BPS (IF) | 2025-05-16 | 2025-05-17 | 5930 | 5920 | 5.05 | 1 | 3.3 | 501.7 |
| SPX | BCS (IF) | 2025-05-16 | 2025-05-17 | 5930 | 5935 | 2.4 | 1 | 3.3 | 236.7 |
| SPY | BWB – Bull Put | 2025-05-16 | 2025-06-06 | 581 | 575 | 1.06 | 1 | 1.43 | 104.57 |
| SPY | BWB – Bear Put | 2025-05-16 | 2025-06-06 | 581 | 584 | -0.7 | 1 | 1.43 | -71.43 |
A couple of 1dte ironfly (IF) positions on SPX. The one opened on Friday actually expires on Monday, so technically it is a 3dte?
Also, second time trying a put broken wing butterfly on SPY. Last one closed early for profits. Premiums are very low right now, so this one was almost not worth entering.
Also trying new monthly iron condor position with TLT. It has performed well during high interest rate environment we've had the past few years. If interest rates are dropped though, it will probably lose money.
Closed / Expired: #
| Ticker | Type | Entry Date | Expiry Date | Sell Strike | Buy Strike | Premium | Open Qty | Fee open | Net Premium | Close Date | Close Cost | Close Qty | Fee close | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | BPS | 2024-12-09 | 2025-03-21 | 400 | 380 | 2.27 | 1 | 2.11 | 224.89 | 2025-05-14 | -8.61 | 1 | 1.42 | -637.53 |
| MSFT | BPS | 2025-02-28 | 2025-05-16 | 400 | 380 | 8.71 | 1 | 1.48 | 869.52 | 2025-05-14 | -8.16 | 1 | 1.45 | 52.0699999999999 |
| SPY | BCS | 2025-04-04 | 2025-05-16 | 525 | 527 | 1.05 | 1 | 1.47 | 103.53 | 2025-05-16 | -2 | 1 | 0 | -96.47 |
| IWM | BCS | 2025-04-04 | 2025-05-16 | 185 | 186 | 0.5 | 1 | 1.44 | 48.56 | 2025-05-16 | -1 | 1 | 0 | -51.44 |
| XLP | BCS | 2025-04-07 | 2025-05-16 | 78 | 79 | 0.53 | 1 | 1.47 | 51.53 | 2025-05-16 | -1 | 1 | 0 | -48.47 |
| MSFT | BPS | 2025-04-09 | 2025-08-15 | 400 | 380 | 8.26 | 1 | 1.5 | 824.5 | 2025-05-14 | -2 | 1 | 1.42 | 623.08 |
| SPY | BWB – Bull Put | 2025-05-02 | 2025-05-23 | 550 | 544 | 1.11 | 1 | 1.46 | 109.54 | 2025-05-12 | -0.26 | 1 | 1.43 | 82.11 |
| SPY | BWB – Bear Put | 2025-05-02 | 2025-05-23 | 550 | 553 | -0.68 | 1 | 1.46 | -69.46 | 2025-05-12 | 0.16 | 1 | 1.43 | -54.89 |
| SPY | BPS | 2025-05-05 | 2025-06-30 | 515 | 510 | 0.61 | 1 | 2.14 | 58.86 | 2025-05-13 | -0.2 | 1 | 1.42 | 37.44 |
| PFE | Short Put | 2025-05-13 | 2025-05-16 | 22.5 | 0 | 0.15 | 1 | 1.54 | 13.46 | 2025-05-16 | 0 | 1 | 0 | 13.46 |
| SPX | BPS (IF) | 2025-05-14 | 2025-05-15 | 5895 | 5885 | 5 | 1 | 3.5 | 496.5 | 2025-05-15 | 0 | 1 | 0 | 496.5 |
| SPX | BCS (IF) | 2025-05-14 | 2025-05-15 | 5895 | 5900 | 2.25 | 1 | 3.3 | 221.7 | 2025-05-15 | -5 | 1 | 0 | -278.3 |
- Closed Net Profits/Loss: $137.56
A MSFT position I had been holding and rolling for over 5 months finally closed. Made a measly $37 on it. Should've just let it keep running, but I was so sick of looking at it.
Bunch of bearish positions opened last month closed for losses.
0DTE Trades #
| Ticker | Type | Entry Date | Expiry Date | Sell Strike | Buy Strike | Premium | Open Qty | Fee open | Net Premium | Exit Date | Close Cost | Close Qty | Fee close | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SPX | BCS | 2025-05-12 | 2025-05-12 | 5850 | 5890 | 1.1 | 1 | 3.21 | 106.79 | 2025-05-12 | -2.3 | 1 | 3.21 | -126.42 |
| SPX | BPS | 2025-05-12 | 2025-05-12 | 5780 | 5710 | 0.9 | 1 | 3.21 | 86.79 | 2025-05-12 | 0 | 1 | 3.21 | 83.58 |
| SPX | BPS | 2025-05-12 | 2025-05-12 | 5825 | 5820 | 0.8 | 1 | 3.3 | 76.7 | 2025-05-12 | 0 | 1 | 0 | 76.7 |
| SPX | BCS | 2025-05-12 | 2025-05-12 | 5840 | 5880 | 0.85 | 1 | 3.12 | 81.88 | 2025-05-12 | -1.8 | 1 | 1.65 | -99.77 |
| SPX | BPS | 2025-05-13 | 2025-05-13 | 5815 | 5740 | 0.95 | 1 | 3.21 | 91.79 | 2025-05-13 | 0 | 1 | 0 | 91.79 |
| SPX | BPS (IC) | 2025-05-13 | 2025-05-13 | 5875 | 5870 | 1 | 1 | 3.3 | 96.7 | 2025-05-13 | 0 | 1 | 0 | 96.7 |
| SPX | BCS (IC) | 2025-05-13 | 2025-05-13 | 5910 | 5915 | 1.15 | 1 | 3.3 | 111.7 | 2025-05-13 | 0 | 1 | 0 | 111.7 |
| SPX | BPS | 2025-05-13 | 2025-05-13 | 5890 | 5885 | 1.15 | 1 | 3.3 | 111.7 | 2025-05-13 | -3.45 | 1 | 0 | -233.3 |
| SPX | BPS | 2025-05-13 | 2025-05-13 | 5875 | 5805 | 1.05 | 1 | 3.21 | 101.79 | 2025-05-13 | -2.1 | 1 | 3.41 | -111.62 |
| SPX | BPS | 2025-05-13 | 2025-05-13 | 5890 | 5885 | 0.85 | 1 | 3.3 | 81.7 | 2025-05-13 | -3.45 | 1 | 0 | -263.3 |
| SPX | BPS | 2025-05-13 | 2025-05-13 | 5890 | 5850 | 0.85 | 1 | 3.12 | 81.88 | 2025-05-13 | -1.75 | 1 | 1.75 | -94.87 |
| SPX | BPS | 2025-05-14 | 2025-05-14 | 5840 | 5780 | 0.8 | 1 | 3.12 | 76.88 | 2025-05-14 | -1.65 | 1 | 3.41 | -91.53 |
| SPX | BPS (IC) | 2025-05-14 | 2025-05-14 | 5875 | 5870 | 0.84 | 1 | 3.3 | 80.7 | 2025-05-14 | 0 | 1 | 0 | 80.7 |
| SPX | BCS (IC) | 2025-05-14 | 2025-05-14 | 5915 | 5920 | 0.91 | 1 | 3.3 | 87.7 | 2025-05-14 | 0 | 1 | 0 | 87.7 |
| SPX | BCS | 2025-05-14 | 2025-05-14 | 5925 | 5995 | 1.05 | 1 | 3.21 | 101.79 | 2025-05-14 | 0 | 1 | 0 | 101.79 |
| SPX | BPS | 2025-05-14 | 2025-05-14 | 5875 | 5870 | 0.9 | 1 | 3.3 | 86.7 | 2025-05-14 | 0 | 1 | 0 | 86.7 |
| SPX | BPS | 2025-05-14 | 2025-05-14 | 5875 | 5815 | 1.1 | 1 | 3.21 | 106.79 | 2025-05-14 | -2.35 | 1 | 3.21 | -131.42 |
| SPX | BPS (IC) | 2025-05-15 | 2025-05-15 | 5895 | 5890 | 0.66 | 1 | 3.3 | 62.7 | 2025-05-15 | -0.1 | 1 | 3.12 | 49.58 |
| SPX | BCS (IC) | 2025-05-15 | 2025-05-15 | 5915 | 5920 | 1.54 | 1 | 3.3 | 150.7 | 2025-05-15 | -1 | 1 | 3.21 | 47.49 |
| SPX | BPS | 2025-05-15 | 2025-05-15 | 5905 | 5900 | 1.05 | 1 | 3.3 | 101.7 | 2025-05-15 | 0 | 1 | 0 | 101.7 |
| SPX | BCS | 2025-05-15 | 2025-05-15 | 5915 | 5920 | 1.9 | 1 | 3.3 | 186.7 | 2025-05-15 | -1.93 | 1 | 0 | -6.30000000000001 |
| SPX | BPS | 2025-05-16 | 2025-05-16 | 5870 | 5795 | 1 | 1 | 3.21 | 96.79 | 2025-05-16 | -2.05 | 1 | 3.41 | -111.62 |
| SPX | BPS | 2025-05-16 | 2025-05-16 | 5885 | 5825 | 0.95 | 1 | 3.21 | 91.79 | 2025-05-16 | 0 | 1 | 0 | 91.79 |
| SPX | BPS | 2025-05-16 | 2025-05-16 | 5935 | 5880 | 1.05 | 1 | 3.21 | 101.79 | 2025-05-16 | 0 | 1 | 0 | 101.79 |
| SPX | BPS (IC) | 2025-05-16 | 2025-05-16 | 5945 | 5940 | 0.78 | 1 | 3.3 | 74.7 | 2025-05-16 | 0 | 1 | 0 | 74.7 |
| SPX | BCS (IC) | 2025-05-16 | 2025-05-16 | 5965 | 5970 | 0.62 | 1 | 3.3 | 58.7 | 2025-05-16 | 0 | 1 | 0 | 58.7 |
| SPX | BCS | 2025-05-16 | 2025-05-16 | 5955 | 5960 | 1.25 | 1 | 3.3 | 121.7 | 2025-05-16 | -3.38 | 1 | 0 | -216.3 |
- 0DTE Closed Net Profits/Loss: -$143.34
Another losing week for 0DTE. I should probably combine 0dte with 1dte, which would then be a win. But, I guess that's all just mental accounting anyways.
Total Profit / Loss #
- 0DTE trades = -$143.34
- Other trades = $137.56
NET PROFIT / LOSS = -$5.78
Notes, Lessons and Thoughts #
Breakeven week. Lost $5.
Got to cut back on a couple cups of coffee next week.
New 1dte strategy nearly pushed it above water though. Probably got a bit lucky with it.
1dte SPX butterfly #
The new strategy I'm testing is a 1DTE skewed-wing butterfly on SPX which I found via Option Alpha.
The call spread side is $5 wide, while the put spread side is $10 wide. The short strikes are opened slightly above at-the-money price. Max premium is around $700, but I dont expect to ever retain it all. Max loss ends up being $300-$400, which is about 1% or less of my portfolio right now.
This strategy will work very well during bull markets, as even if it breaks through the call side I will be making decent profits. Max loss comes when market drops below the put spread. The potential for max gain happens if the market closes exactly where it opened 1 day later. This situation never happened during backtest, so probably won't happen.
I am not taking early profits, though that may change.
Preparing for losses #
I am expecting to write off about $400-$500 in losses next week. I opened a bunch of bearish positions last month during the market downturn. Now that the market has completely rebounded, they are all going to be expiring as losers.
Womp womp.