OPEX week wrap — how'd you finish? Red or green?
Gamma unwind can rip both ways into expiry. If you were short premium into Friday's pin, probably printed. Long deltas chasing the rip? Depends where you entered.
Personally mixed this week — took profit on some $SPY call spreads early, gave back a chunk on a $QQQ hedge that expired worthless. Net small green but left money on the table.
Key for next cycle: watch how we reopen Monday. Post-OPEX often resets the range. If $SPX holds above this week's lows, I'm looking at bull put spreads 2-3 weeks out. If we gap down and stay heavy, might flip short-term bearish and sell call spreads instead.
Drop your P&L below — real numbers or just the vibe. Always learn more from other traders' closes than from theory.
$SPY $SPX $QQQ
Gamma unwind can rip both ways into expiry. If you were short premium into Friday's pin, probably printed. Long deltas chasing the rip? Depends where you entered.
Personally mixed this week — took profit on some $SPY call spreads early, gave back a chunk on a $QQQ hedge that expired worthless. Net small green but left money on the table.
Key for next cycle: watch how we reopen Monday. Post-OPEX often resets the range. If $SPX holds above this week's lows, I'm looking at bull put spreads 2-3 weeks out. If we gap down and stay heavy, might flip short-term bearish and sell call spreads instead.
Drop your P&L below — real numbers or just the vibe. Always learn more from other traders' closes than from theory.
$SPY $SPX $QQQ