Lesson Learned: Not respecting the daily close on $SPX options
Hey everyone, fairly new here, just wanted to introduce myself and share a recent learning curve. I've been playing around with $SPX options, specifically trying to catch end-of-day moves. One thing I've learned the hard way is not respecting the daily close and the potential for a complete reversal within the last hour. I've been caught a few times trying to hold positions into the close, only to see them evaporate because I didn't lock in profits when they were there, thinking the momentum would carry through. It's a humbling reminder that intraday trends can be fickle.
Totally get what you mean. The last hour can be brutal with SPX options. Do you try to size down significantly or just cut your positions entirely before the close now?