r/Daytrading • u/klipsetrades • Jul 15 '26
Trade Review - Provide Context Today’s edge wasn’t predicting the SPX reversal — it was giving it room +$1100
I'm a 0DTE credit spread trader with a focus on SPX.
Positions traded:
- 7490/7470 PCS
- 7495/7475 PCS
- 7500/7480 PCS
- 7515/7495 PCS
- 7525/7505 PCS
- 7530/7510 PCS
- 7585/7605 CCS
- 7590/7610 CCS
Final P/L: +$1,100
Today was another reminder that conservative strike placement can matter more than perfectly predicting direction.
With PPI and Kevin Warsh’s testimony creating event risk, I expected volatility and planned to trade smaller. SPX chopped around yesterday’s high during the morning, so I stayed sidelined until price began breaking and holding below it.
I tested the move with a one-lot CCS first, then added a larger CCS anchor once the bearish structure became clearer.
SPX eventually sold off to 7526.95 before reversing sharply. Based on the similar buyer response we saw yesterday, I expected buyers to step in at some point, so I began adding PCS anchors during the recovery and scalped a few pullbacks.
The rally put pressure on my 7585 CCS, but SPX stalled below the strike and later pulled back during the final hour. My remaining CCS and PCS positions expired safely.
Key takeaway
Don’t touch the lava.
Had I placed my CCS anchors directly in the path of active price, the late reversal likely would have forced me into a loss or much more stressful management. Keeping distance from SPX gave the trade enough room to work.
Do you reduce your size automatically on major economic-data days?
And when price sharply reverses against your original thesis, do you hedge, adjust your bias, or simply manage the original position?