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