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

This is how the market looked yesterday:

And this is how it looks today:

Market down around -1.68% on Friday

Existing Positions

XSP Sep 11th 552 Short Straddle

No change. Still going and safe but will plan to close it early tomorrow.

XSP Sep 12th 550 Short Straddle

No change. Still safe so will keep it open for another day

XSP Sep 13th 541 Short Straddle

No adjustment required yet but if the market keeps going up then will need to adjust it.

New Position

/ESU24 Sep 16th Short Straddle

First 7DTE straddle on /ES.