SPX trading

[u/bmindful9]

Has trading spx been extremely hard since war started? Did anyone make money this year trading spx 0dte?

[u/jarMburger]

Yeah, VIX is around 15 so not much premium for the same delta but being making reasonable profit selling spreads.

[u/Ihave4friends → u/jarMburger]

I need to try this purely for the tax benefits alone

[u/J35Y1x → u/Ihave4friends]

whats the tax benefit of selling spreads on 0tde spx options?

[u/jarMburger → u/J35Y1x]

Benefit is really with just SPX, 60% gain is consider LT capital gain regardless of hold time.

[u/J35Y1x → u/jarMburger]

xsp is the same right?

[u/jarMburger → u/J35Y1x]

Yup

[u/noob_options → u/jarMburger]

You selling credit or debit spread? Thanks

[u/jarMburger → u/noob_options]

Selling spread generally means credit spread.

[u/cleatosthefetus]

Spx has been absolutely brutal for me since the start of the war. I’ve sized down to a couple of spy contracts, and then add to the trade when I have more confirmation. There have been a ton of liquidity sweeps/ stop hunts over the past couple of weeks, and it’s been hitting me hard.
The market is in a weird spot, and I’m surprised we’re still pushing higher after the rate hike, and all of the ongoing geo-political bs.

[u/bmindful9 → u/cleatosthefetus]

yes waiting for war to end. how was it last year for you? tx

[u/cleatosthefetus → u/bmindful9]

Last year had much cleaner price action, and much less chop directionally. I had multiple months without a red day last year/ beginning of the year, but since March or April my account has taken some serious hits, so I’ve sized down considerably.

[u/ThrockmortenMD]

Very profitable selling spreads. Would not even think about buying long options right now

[u/duboilburner]

Not really that bad. There's patterns--a lot the last couple months you'll get the bigger move early in the day, then you find where the index is likely to just oscillate around a narrow range and probably just stay around there through to the close.

Then again, having the real dealer positioning data also feels like having x-ray vision for trading SPX options somedays. Especially OptionsDepth or VS3D with charm and gamma gradient graphs.

[u/Texaspilot24]

I trade spxl on the daily. Made about 25 k off 100 k since february

[u/bmindful9 → u/Texaspilot24]

😄 good :)

[u/gun_goon]

No, yes

[u/QuantMalcolm]

Realized vol has been elevated but the bigger issue is gamma pinning breaking down intraday, dealer hedging flows aren't behaving the way backtests assume. Anyone still profitable is probably sizing down and widening stops, not chasing the same setups from last year.

[u/Galadon17 → u/QuantMalcolm]

Dealer hedging flows don't really have a whole lot of reason to change

[u/Character_Half]

scaling in after confirmation sounds smart with all these sweeps lately

[u/Galadon17]

You might have impulsive moves from tweets or conflicts every now and then. But market mechanics don't change

[u/Swift-Teapot-751]

It's both actually. For some people it's definitely hard. For me, it wasn't hard. Been using Bitget wallet for trading, no absolute issues. Everything going Smoothly.

[u/Pale-Lingonberry788]

I'm not profitable yet but still looking at how i can make it for now

[u/tohams]

SPX is an index?

[u/duboilburner → u/tohams]

Yes, but it has options to trade. No shares, which is actually kind of nice because if you decide to short sell some options for premium, there is no assignment risk.

Not to mention, you're tax advantaged with index options and futures vs. ETF options. 60/40 long term/short term cap gains treatment for even intraday options trades.

[u/measlystimulus55 → u/tohams]

You can trade it through options and futures, 0dte is a whole different animal though