Leaderboard

Looking over the SPY charts, there is pretty substantial movement throughout the week. There are several weeks in a row where SPY has moved $3 or more through the week. Entering a SPY straddle on Friday is generally running about $2, when IV is high it is around $2,13 or so. The weeks that it hasn't moved $3 there has still been up and down movement through the week. Here it what I'm going to test Enter weekly straddle by end of day Friday To mitigate risk, if the straddle moves $1 up or down, I will roll Always maintain a sell order for $3 or $3 minus credits received from rolling. I am aiming to see how often this can generate a 50% gain or close to it. Exit no later than the following Friday morning. I will post my weekly results on here, along with any adjustments made. I plan on entering my first straddle, tomorrow. Week 1 - Entered 2.35, rolled for .49 credit, out for 2.20.. 14.5% gain (could have sold on entry day for 2.85)

Correct

Yes exit the straddle no later than close on Friday or now probably Wednesday so as to avoid theta loss for thur or fri. Entry this past Friday was 2.02 so it would've been a nice gain this week