Example Trade: 0DTE Put Scalp#
November 29, 2024
Trade Details#
| Field | Value |
|---|---|
| Date | 2024-11-29 |
| Time | 10:15 ET |
| Symbol | SPX |
| Strategy | 0DTE Scalp |
| Direction | Short (Puts) |
| Instrument | Put |
Position#
| Field | Value |
|---|---|
| Strike | 6050 |
| Expiration | 2024-11-29 (0DTE) |
| Contracts | 2 |
| Entry Price | $4.20 |
| Exit Price | $6.80 |
| P&L | +$520 |
| R Multiple | +1.2R |
Analysis#
Pre-Trade#
Market Context:
- VIX level: 14.5
- SPX daily trend: Uptrend, consolidating at highs
- Key levels: 6055 resistance, 6040 support
Setup:
- SPX rejected 6055 resistance for the 3rd time
- Volume increased on the rejection
- VWAP starting to slope down
Risk/Reward:
- Stop loss: $2.10 (50% of premium)
- Target: $6.30 (50% gain)
- Planned R:R: 1:1.5
Post-Trade#
What Happened: Entered puts after clear rejection from 6055 with increasing volume. SPX dropped to 6042 within 20 minutes. Scaled out 50% at $6.30 (50% gain), then trailed the rest. Exited remaining position at $6.80 when momentum slowed at the 6040 support level.
Execution Grade: B+
- Entry timing: A (waited for confirmation)
- Exit timing: B (could have held for more on first scale)
- Position sizing: A (followed rules exactly)
- Emotional control: B (slight anxiety during pullback)
Lessons:
- The setup worked exactly as documented in the playbook
- Scaling out at 50% was the right call - gave peace of mind
- Could improve patience during the initial pullback after entry
- Resistance levels with multiple touches are reliable
Notes#
This was a textbook setup. The key was waiting for the third rejection rather than jumping in on the first touch of resistance. Volume confirmation was crucial.
Tags#
#0dte-scalp #win #2024-11