Option Strategies to .SPX

Selling For Premium

Hello everyone! Today i want to share some option strategies with you!

1.

If SPX gaps down on Monday due to this tariff news, then $Cboe Volatility Index(VIX)$ will spike up, which means there will be optionselling opportunities to take advantage of the vol spike.

Gamma structure for Feb 3 expiration shows put gamma stacks at 6050, 6000, 5990, 5950, 5900, and 5880. Below Friday's closing price the stronger put stacks are at 5990 and 5900, but that 5990 stack might get blown thru on a big gap down on Monday.

Depending on how far SPX dumps and if there is elevated premium to capture, we will be looking to sell 5 or 10 wide spreads at the following put strikes, 0DTE expiry: 5880, 5820, 5770, 5700

2.

Adding to this 0DTE trade ... if $.SPX(.SPX)$ does gap down on Monday, then we'll also turn this trade into an Iron Condor and write (sell) a call credit spread.

Will target the 6100 short strike ... assuming there is premium to be sold at that strike. If no premium, then will work our way down to 6050.

6100 is a strong gamma level and has not held as support. Doubt it gets breached on Monday based off this tariff/trade war news. That said, 6050 may not get breached either.

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Today i want to share some option strategies with you!</p><p></p><p>1.</p><p>If SPX gaps down on Monday due to this tariff news, then  <a data-mention-id=\"VIX\" class=\"teditor-mention\" data-mention-name=\"Cboe Volatility Index\" href=\"https://ttm.financial/S/VIX\">$Cboe Volatility Index(VIX)$</a> will spike up, which means there will be optionselling opportunities to take advantage of the vol spike.</p><p>Gamma structure for Feb 3 expiration shows put gamma stacks at 6050, 6000, 5990, 5950, 5900, and 5880. Below Friday's closing price the stronger put stacks are at 5990 and 5900, but that 5990 stack might get blown thru on a big gap down on Monday.</p><p>Depending on how far SPX dumps and if there is elevated premium to capture, we will be looking to sell 5 or 10 wide spreads at the following put strikes, 0DTE expiry: 5880, 5820, 5770, 5700</p><p></p><p>2.</p><p>Adding to this 0DTE trade ... if  <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\".SPX\" href=\"https://ttm.financial/S/.SPX\">$.SPX(.SPX)$</a>  does gap down on Monday, then we'll also turn this trade into an Iron Condor and write (sell) a call credit spread.</p><p>Will target the 6100 short strike ... assuming there is premium to be sold at that strike. If no premium, then will work our way down to 6050.</p><p>6100 is a strong gamma level and has not held as support. Doubt it gets breached on Monday based off this tariff/trade war news. That said, 6050 may not get breached either.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/59a56249c9c9c81ff9dc0042d80a033d\" tg-width=\"1269\" tg-height=\"844\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/192f60779e19051878d70c6ad33aaf94\" tg-width=\"1273\" tg-height=\"962\"><span>Image</span></p></body></html>","htmlText":"<html><head></head><body><p>Hello everyone! Today i want to share some option strategies with you!</p><p></p><p>1.</p><p>If SPX gaps down on Monday due to this tariff news, then  <a data-mention-id=\"VIX\" class=\"teditor-mention\" data-mention-name=\"Cboe Volatility Index\" href=\"https://ttm.financial/S/VIX\">$Cboe Volatility Index(VIX)$</a> will spike up, which means there will be optionselling opportunities to take advantage of the vol spike.</p><p>Gamma structure for Feb 3 expiration shows put gamma stacks at 6050, 6000, 5990, 5950, 5900, and 5880. Below Friday's closing price the stronger put stacks are at 5990 and 5900, but that 5990 stack might get blown thru on a big gap down on Monday.</p><p>Depending on how far SPX dumps and if there is elevated premium to capture, we will be looking to sell 5 or 10 wide spreads at the following put strikes, 0DTE expiry: 5880, 5820, 5770, 5700</p><p></p><p>2.</p><p>Adding to this 0DTE trade ... if  <a data-mention-id=\".SPX\" class=\"teditor-mention\" data-mention-name=\".SPX\" href=\"https://ttm.financial/S/.SPX\">$.SPX(.SPX)$</a>  does gap down on Monday, then we'll also turn this trade into an Iron Condor and write (sell) a call credit spread.</p><p>Will target the 6100 short strike ... assuming there is premium to be sold at that strike. If no premium, then will work our way down to 6050.</p><p>6100 is a strong gamma level and has not held as support. Doubt it gets breached on Monday based off this tariff/trade war news. That said, 6050 may not get breached either.</p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/59a56249c9c9c81ff9dc0042d80a033d\" tg-width=\"1269\" tg-height=\"844\"><span>Image</span></p><p class=\"t-img-caption\"><img alt=\"Image\" title=\"Image\" src=\"https://community-static.tradeup.com/news/192f60779e19051878d70c6ad33aaf94\" tg-width=\"1273\" tg-height=\"962\"><span>Image</span></p></body></html>","text":"Hello everyone! Today i want to share some option strategies with you! 1. If SPX gaps down on Monday due to this tariff news, then $Cboe Volatility Index(VIX)$ will spike up, which means there will be optionselling opportunities to take advantage of the vol spike. Gamma structure for Feb 3 expiration shows put gamma stacks at 6050, 6000, 5990, 5950, 5900, and 5880. Below Friday's closing price the stronger put stacks are at 5990 and 5900, but that 5990 stack might get blown thru on a big gap down on Monday. Depending on how far SPX dumps and if there is elevated premium to capture, we will be looking to sell 5 or 10 wide spreads at the following put strikes, 0DTE expiry: 5880, 5820, 5770, 5700 2. Adding to this 0DTE trade ... if $.SPX(.SPX)$ does gap down on Monday, then we'll also turn this trade into an Iron Condor and write (sell) a call credit spread. Will target the 6100 short strike ... assuming there is premium to be sold at that strike. If no premium, then will work our way down to 6050. 6100 is a strong gamma level and has not held as support. Doubt it gets breached on Monday based off this tariff/trade war news. That said, 6050 may not get breached either. 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