Market Analysis and Straddle Adjustment Strategies (2024-09-06)

This is how the market looked yesterday:

And this is how it looks today:

Market down around -1.51%

Existing Positions

XSP Sep 9th 558 Short Straddle

Closed it for -$331 loss

XSP Sep 10th 556 Short Straddle

Closed it for +$183 profit

XSP Sep 11th 552 Short Straddle

Adjusted. Close existing untested side. Sold another ATM Call.

New Position

XSP Sep 12th 550 Short Straddle

Opened yesterday and had to adjust it today due to large down move.

XSP Sep 13th 541 Short Straddle