WATCH THE VIDEO HERE!
Trade 1 (10:48 am, PT)
buy +2 January 18, 2019 2705 calls at $0.05 (cheap "wings")
sell -2 January 18, 2019 2675 calls at $1.80 (27 delta)
Trade 2 (11:38 am, PT)
buy back the 2 short calls (2675) at $0.60 (take profits and remove the risk)
PROFIT #1: $230 (in 45 minutes)
Trade 3 (11:55 am, PT)
sell -2 January 18, 2019 2675 calls at $0.80 (17.46 delta)
Comment: I'm selling (to open) two new calls (same strike) so I don't "waste" my two long calls ("wings") (there's still 1 hour left in the trading session)
Trade 4 (12:49 pm, PT)
buy back the 2 short calls (2675) at $0.10
Comment: The market makers were "torturing" me by making me wait until 12:49 pm. They refused to sell me the 2675 calls for $0.10 even though they were pretty far out-of-the-money
PROFIT #2: $140 (in 55 minutes)
TOTAL PROFIT: $370
Comments:
- at 12:52 pm, SPX was at 2663.37 and then staged a sharp reversal (back up)
- at 1:00 pm, SPX closed at 2670.71
- I'm VERY glad I bought back my short calls at $0.10 because that late-afternoon reversal would have completely stressed me out
WATCH THE VIDEO HERE!
