I’ve been selling bull put spreads for SPX for a few weeks liao. Been profitable so far about 100% (over 50 trades)
I don’t go by delta and sell weeklies
What I do is sell a bull put spread on SPX with the short leg about 100-150 points below the current strike price. I set expiration to one week later
The moment it turns profitable (which can be an hour or a day later), I immediately buy it back. That’s how I got the 100% record lol cos I end the trade even if I earn $30. I roll for credit the moment the trade seems to go against me (but I only did it once and it was a call cos who knew the index would rise so fast)
So in my mind, it’s very inefficient
From a friend and fellow trader, as long as u make money, it’s not wrong. Screw efficiency
So does my strategy make sense?