Symbols traded: XSP (1DTE)

I entered a short Iron Fly position on XSP, one day prior to expiration, with the goal of exiting early on expiration day. I exited as planned, for a 15.5% loss, which wasn’t part of the plan.

XSP short Iron Fly

LOT:	5	ENTRY DATE:	1/29/2024
		EXIT DATE:	1/30/2024
		DAYS HELD:	1

Entry and Exit

METRIC	CREDIT	DEBIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Options premium	$ 1.74	$ 2.06	$ (0.32)	-15.5%	-5639%
METRIC	ENTRY	EXIT	CHANGE	CHANGE %	ANNUALIZED CHANGE %
Stock price	$ 489.98	$ 492.02	$ (2.04)	0.42%	152%
Impllied Volatility Rate	10.2	12.1	1.9
Days to expiration	1	0

The structure of the position

STRUCTURE	STRIKE	ODDS EXPIRE OTM	DELTA	IN PRICE	OUT PRICE	NET PRICE
Calls
Long	493.00	86.0%	14	$ (0.20)	$ 0.49	$ 0.29
Break-even	491.74	68.0%	32
Short	490.00	50.0%	50	$ 1.12	$ (2.40)	$ (1.28)
Puts
Short	490.00	50.0%	50	$ 1.12	$ (0.25)	$ 0.87
Break-even	488.74	66.5%	34
Long	487.00	83.0%	18	$ (0.29)	$ 0.10	$ (0.19)
						======
				`	NET TOTAL:	$ (0.31)

Risk and Reward

Per contract:
Reward	174.00
Risk	126.00
R/R Ratio (n:1)	0.7

By Tim Bovee, Portland, Oregon, January 29-30, 2024

Disclaimer

Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.

No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decisions for his or her own account, and take responsibility for the consequences.

License

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Based on a work at www.timbovee.com.