💡 SPX 0dte Trading - Oct 10’22 3575/3580 3680/3685 Iron Condor
💡 SPX 0dte Trading - Oct 10’22 3575/3580 3680/3685 Iron Condor
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A key level on the downside remains $3,600 and $3,700 on the upside. We don't see a reason for participants to get overly convicted one way or the other or sell volatility until there is more clarity on inflation and ultimately the forward path of monetary policy. Wednesday CPI will likely spark the next directional move.
We are seeing some put demand this morning, bidding volatility and forcing dealers to sell deltas - all which exerts downward pressure on price. With that being said, markets internals have a bearish tilt with the DXY moving higher. SPX, DXY inverse correlation continues to hold.
If required; I will make adjustments, likely turning the threatened side into a butterfly spread.
0DTE TRADERS
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Premium collected: $95 per contract
A key level on the downside remains $3,600 and $3,700 on the upside. We don't see a reason for participants to get overly convicted one way or the other or sell volatility until there is more clarity on inflation and ultimately the forward path of monetary policy. Wednesday CPI will likely spark the next directional move.
We are seeing some put demand this morning, bidding volatility and forcing dealers to sell deltas - all which exerts downward pressure on price. With that being said, markets internals have a bearish tilt with the DXY moving higher. SPX, DXY inverse correlation continues to hold.
If required; I will make adjustments, likely turning the threatened side into a butterfly spread.
0DTE TRADERS
âś… Trade Ideas & Alerts
âś… Market Analysis
âś… Education
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