1.5 KiB
1.5 KiB
SPY Iron Condor Debrief — 2026-08-11
Trade Summary
- Ticker: SPY
- Structure: Iron Condor (8/14 expiry)
- 770P/760P (put side)
- 780C/785C (call side)
- Credit: $2.44/contract
- Entry: ~$773.70 at ~10:29 AM ET
- Exit: ~11:30 AM ET (time exit)
- Result: -$6 net loss
Plan
- Target: 25% profit ($1.83 buyback)
- Time Exit: 11:30 AM ET
- Guard: Close if approaching breakevens ($768.44 / $782.44)
Observations
- Asymmetric Structure: 10-wide put side, 5-wide call side
- Riskier put wing got more buffer
- Better credit optimization on the closer strike
- NL3 Feed Issue: Institutional prints showing zero throughout session
- Feed likely stale/disconnected
- Normal SPY volume should show dozens of prints by 10:30 AM
- Price Action: SPY drifted from $773.70 to around exit
- Put side was always the danger zone ($3.70 vs $6.30 to calls)
- Theta grind on 3-day 0DTE can be unforgiving
Key Takeaways
- Asymmetric IC Design: Good structure — wider put side matched the closer risk
- Time Management: Respected the 11:30 exit window cleanly
- NL3 Reliability: Feed issues need monitoring — toggle off/on when zero prints show
- Small Losses: -$6 on a $2.44 credit is noise, not strategy failure
Next Time
- Consider waiting for more theta decay before entry
- Monitor NL3 feed health at session start
- Stick to the plan — execution was clean, just unfavorable drift
Auto-debrief generated at exit