I opened a call credit spread position at the rejection of SD2 of VWAP on US500 as price seemed like it was struggling to go further up. The data was looking a bit funky. It was all pointing upwards with a strong delta but net drift seemed to want price to go down a bit. I set a very tight stoploss at a candle close above todays morning high before 6:45 AM PST. So basically if its the ORB High. If price does break the ORB High I sell puts and take a small loss with the call side. I sold 2 call credit spreads for $0.80 at the 6805/6810 call strike. I’ll be looking to close these at 50% unless price goes below vwap on US500 then ill be looking to close at $0.10 or $0.05 depending on the next hour or two.
So Price Pushed back up on news of a ceasefire between Isreal and lebanon and hit my stop loss and I immediately closed my positions for a $70 loss. This isn’t something I could avoid as it was news of war.