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By mostly luck I don't have any ES put spreads on now. I had a slight gut feeling that things weren't going well but also I was trading something else.
I will backtest the strategy after this crash is over to see if it worked.
I have been selling Gold put credit spreads and it has been profitable( till its not) ROI% =4.5. Short-Long 3-8% OTM , DTE 100 days. When will you be getting back in to the ES trade Ron? Do you think the conditions are finally changing(concerning you trade strategy)?
I wanted to see how the ES strategy, selling 2 puts 90-120 DTE that have a delta of -3.00 while buying 3 puts with a delta of -1.00 and using 6xIM would have worked this month during the large decrease in futures prices (-245 or 8.3%) over 22 calendar days.
I opened position on Oct 3rd. The date of the highest ES futures price. It was EW3f9p2270(-2)p1950(+3). 107 DTE. IM was $560. Net premium was 4.60.
Turns out the worst day was Oct 24th. But only 57.6% of 6xIM was used on that day. No where close to being on margin call. Drawdown was 24%. Not good, but it didn't knock me out of the position yet.
