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re: Options Trading Thread
Posted on 1/31/24 at 6:47 pm to LSUtoOmaha
Posted on 1/31/24 at 6:47 pm to LSUtoOmaha
That’s Sosnoff’s preferred SPX 0DTE strategy, isn’t it? Is it working well for you?
2
Posted on 2/1/24 at 8:42 am to Jag_Warrior
It is, but he also re-centers them a few times a day and buys a 30 day diagonal hedge for a marginal gain/variance reduction which I think is just not worth it. I've only done this for 3 days so far and have profit targets set to 20-25%, which is right in line with the optimal backtested strategy. For every iron butterfly sold (usually around $1600 risked for SPX) the average yield is around $95. I'm also not doing today (Thursday) because the detailed Option Alpha studies on 0DTE trades has shown that Thursday has strongly negative PNL for all premium selling types. No idea why, but I'll trust the data
This post was edited on 2/1/24 at 8:44 am
Posted on 2/2/24 at 9:52 pm to Jag_Warrior
bought spx 4950/5000 vert for 5.20 yesterday and sold most for around 25 today 
Think we get 5k spx next week. Powell on 60 minutes Sunday I heard. Maybe look for a dip Monday and put on a butterfly call 4975/5000/5025 for Friday expiry
Gotta think we are getting close to a pullback, breadth been underwhelming, but all the flows are still looking at upside til March. This will be interesting, I am beginning to get close to all cash in trading account.
I may start taking a play out of Jags book and sell some vert call spreads in the next few weeks.
Think we get 5k spx next week. Powell on 60 minutes Sunday I heard. Maybe look for a dip Monday and put on a butterfly call 4975/5000/5025 for Friday expiry
Gotta think we are getting close to a pullback, breadth been underwhelming, but all the flows are still looking at upside til March. This will be interesting, I am beginning to get close to all cash in trading account.
I may start taking a play out of Jags book and sell some vert call spreads in the next few weeks.
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