STUDY CLOSED – Winner Winner Chicken Dinner

This is a study trading SPX Put or Call Vertical Spread with the short leg at delta 5 and the long leg 50 points further out as outlined in this strategy.

DateDayPut/CallSpreadTime EnteredPrice @ EntryTime ExitedPrice @ Exit# ContractsCredit ReceivedExit Price$ P/L% P/L
6/1/2020MondayP3005/295510:5230501:1530591.75.106586.67
6/3/2020WednesdayP3075/302510:3131102.4431211.55.104581.82
6/8/2020MondayP3165/31159:4932071:3432161.70.106085.71
6/10/2020WednesdayC3260/331510:0032013:1732031.95.108589.47
6/10/2020WednesdayP3115/306010:2831922:0332131.70.106085.71
6/10/2020WednesdayP3130/308010:4131952:1732212.85.1015088.24
6/12/2020FridayC3135/319510:10307512:4630041.75.106586.67
6/12/2020FridayP2945/280010:5630343:13303011.75.1016594.29
6/15/2020MondayC3070/343510.0630011:1030651.802.90-210-262.50
6/17/2020WednesdayC3185/323510.16313011.4931251.75.304560.00
6/17/2020WednesdayP3050/29659:39312811.41313311.20.259579.17
6/22/2020MondayP3010/29259:36308410:14310611.00.059595.00
6/22/2020MondayC3140/31859:5230902:2831141.55.055090.91
6/24/2020WednesdayP3015/296010.04308111:4330401.955.65-470-494.74
6/24/2020WednesdayP3015/296011:0530762:1730542.85.693218.82
6/24/2020WednesdayP3015/296011:2630562:17305412.80.6921175.36
6/24/2020WednesdayP3015/296011:26305611:43304012.705.65-295-109.26
6/24/2020WednesdayP3015/296011:5130372:17305426.00.60108090.00
6/24/2020WednesdayP3015/296011:5230382:17305415.35.6946687.10
6/26/2020FridayP3000/29409:4230633:5130122.95.3013068.42
6/26/2020FridayP3000/294010:2230343:51301223.95.3073092.41
TotalMedian
265485.71
Note: On 6/24 I averaged down and added another spread. I then accidentally closed out a trade when I thought I was buying more. I was trading in 2 broker platforms at the time and got confused. I turned around and open another trade with the same parameters. It all worked out in the end.

6/26/2020 - I started out with 0 DTE play then averaged down as the premiums got higher. Yes, this is not following my initial rules. I am adding how I trade to this strategy as I watch price action on live minute charts when I average down. Noobs should not try this as I have been trading for over 20 years and am used to chart trading. When I stick to the regular rules, this is pretty much an automatic set it and forget it play.
Categories: completed Studies