Discussed this setup in the 360 Review on 09/07. Expecting FB to cluster in the long-term auction zone price is currently trading within for the next 2-4 weeks. Structuring an Iron Condor to benefit from the chop. Here's the ThinkorSwim Shared Chart: http://tos.mx/5Qgn17z

I expect Amazon (Ticker: AMZN) to spend the next several weeks clustering at the long-term institutional auction zone that price has just risen to and therefore am structuring a bear call to benefit from price at least resisting at these levels for the next few weeks. Here is the ThinkorSwim Share Chart: http://tos.mx/zE7chFO

With price rising into an auction zone this week, and the likelihood of price stalling for the next 1-4 weeks, I am selling these calls to reduce my risk and increase overall profitability in my 90 strike long calls that expire 21 JAN 2022 in JD. Please see the Zones Workshop from 04/22 further analysis: https://thesupertrader.com/zones-page-2/?date=04-21-2021 Here is my chart from ThinkorSwim: http://tos.mx/H9NyT0U

See the Zones workshop from 8/11 for complete analysis here: https://thesupertrader.com/zones-page-2/?date=08-11-2021

As discussed in the 360 Review from 08/23, I expect the SPX to find resistance around the 4490 price level.

Although my existing bull put will expire out of the money most likey today, I'm opening this one for Monday's expiration as we should move back up to 4460-4475 after the price action today.

ADJUSTMENT 18 AUG 2021 @ 3:15pm ET: I'm rolling this position out to this Friday 08/20. This was done for a 1.60 debit leaving me with 0.65 credit. ================= As discussed in the 360 Review from 08/14, I anticipate the SPX to find support around the 4436 price level and continue higher at least into the 4475-4490 level before beginning a multi-phase correction around the time of the Sept. FOMC meeting

ADJUSTMENT 13 AUGUST 2021 @ 1:40pm ET: Rolling this one out to next Friday 20 AUG 2021 as per my LMP. I was able to roll for a 1.50 debit leaving me with a 1.50 net credit after the roll. ======================= Expecting the price to stay close to the purple auction zone and begin working back towards it starting tomorrow. Here's the chart: http://tos.mx/8XgkN4i

See the Zones Workshop from 7/28 for the complete analysis on this position. Following James' lead and legging into the Bull Put side of this position and then will likely add a Bear Call on the stock rising to complete an Iron Condor. Here's the ThinkorSwim Chart: http://tos.mx/EIpEIf9

ADJUSTMENT 30 JUL 2021 @ 10:40am ET: I am opening the 4400/4395 Bull Put for 1.80 in Credit. With a 0.58 loss on my previously adjusted SPX spread, this gives me a net credit of 1.22. Please see the Intra-day analysis video from 07/30 to understand better my thinking behind adding this position. ======================================== ADJUSTMENT 19 JULY 2021 @ 10:00am ET: ***THIS POSITION IS NOT A NEW POSITION AND SHOULD ONLY BE EXECUTED AS PART OF A PREVIOUS POSITION THAT IS BEING MANAGED TO PROFITABILITY*** I bought to close the bear call side of this position for a 1.00 debit. With the credit of 0.65 I had in this position I am left with a net debit on the remaining bull put of 0.35. To make up for the net debit, I've added an additional 5% of net liquidity to the 4285/4280 bull put which gave me 2.90 of credit per contract. With my total combined contracts, this gives me a net position credit of 0.52. ======================================================== ADJUSTMENT 16 JULY 2021 @ 11:00am ET: ***THIS POSITION IS NOT A NEW POSITION AND SHOULD ONLY BE EXECUTED AS PART OF A PREVIOUS POSITION THAT IS BEING MANAGED TO PROFITABILITY*** I went ahead and rolled my bear call from the 16 JUL 2021 to the 23 JULY 2021 expiry. This was done for an 0.20 debit. With 0.15 credit remaining from the original position, plus the 1.15 profit that was realized from the bull put that was closed when this position was structure as an iron condor, I'm still in a net profitable position. However, accounting for only the bear call side of the position, I've now exhausted the net credit of the position and have a net debit of 0.05. For this purpose, I went ahead and added a bull put to the position as well which gave me a credit of 0.70. With the two combined positions, I have a net credit of 0.65 and anticipate managing either the bull put or bear call side of this iron butterfly at some point next week. We continue to cluster at the multi-year auction zone as seen in this chart: http://tos.mx/cKMSqOU I still anticipate that the SPX will balance down to the zone below (4280-4260) before a possible migration above the current will continue. =================================== ADJUSTMENT 9 JULY 2021 @ 1:00 PM ET: The break lower that was expected to happen following the move higher last Friday (07/02) is happening and should continue down into the 4250 price level over the next week. I am therefore going to roll this position one more time to reduce the loss and, if it goes as expected, get out with a slight profit. It cost me 0.60 debit to roll which leaves me with 0.15 credit on the bear call plus the profit of 1.15 I took off from the bull put last Friday I still stand a good chance at coming out on top of this position. ========================================== ADJUSTMENT 2 JUL 2021 @ 11:10am ET: As discussed in the group review on 7/2/2021 which can be viewed here: https://thesupertrader.com/gr-07-02-2021/ , I am making an adjustment to my Iron Condor in the SPX. To understand why I am structuring my adjustment the way I am, please listen to the Group Review at the link above. This is the second part of this adjustment which involves rolling my existing bear call out in time from 07/02 expiry to 07/09 expiry, and using the existing strikes 4285 Short Call/4290 Long Call. I performed this manuever for a 0.60 debit. Including the original 1.35 of credit received from the initial Iron Condor, that leaves this position with a net credit of 0.75. To see the first part of this adjustment, refer to the bull put added on 07/02 in the SPX in the Weekly Trades Log. ================================= As discussed in the Post Market Review on 6/17, we are currently in a sideways volatile environment. Momentum and even spread directional plays are going to be difficult to come by. As such, a good old-fashioned Iron Condor on the SPX is exactly what our playbook calls for in such an environment and I've identified one that is a nice fit. Here is the ThinkorSwim shared chart: http://tos.mx/gAtcIjE If you aren't quite accustomed at how this strategy works or how to execute it, we've got a training that may be helpful which can be located at the bottom of our Options 101 Training's here: https://thesupertrader.com/perfect-trade-funnel/m4-l6/