SPX 7,722.40. Implied volatility 14.4% against 9.0% realized over 21 days, premium rich. Trend reads up, volatility low.
SPX sits at 7722 in an uptrend with low volatility, and implied volatility of 14.4 percent is running 5.4 points above 21 day realized volatility of 9.0 percent, which makes premium rich.
Morning: entry chosen, 7,310/7,360 put, 8,100/8,150 call, expiring Nov 27, 2026. Options are pricing well above recent actual movement, so we are selling a 38 day condor with the put near 16 delta and the call farther out near 12 delta because the trend is up, collecting about 9.45 per spread against 40,550 dollars of total risk.
Orders that did not fill: - 7,310/7,360 put, 8,100/8,150 call, limits $9.45
Each order rested at the mid price and stepped toward the natural bid; no level traded.
Afternoon check: no mandatory exits.
No open positions.
Cumulative P/L +$0, 0 wins, 0 losses, 0 open.