CCS
CENTURY COMMUNITIES, INC.
stock NYSE

Long Call $95, short call $100. Say stock closes at 97. Assuming broker will exercise the long call, and if i don't want to end up owning the shares I should close the CCS before expiry.

SPX 0DTE Credit Spreads: My CCS was working until an Iran headline hit. Half size and a stop kept the loss manageable -$275

I'm a 0DTE credit spread trader with a focus on SPX.
Positions traded today:
* 7660/7640 PCS
* 7770/7790 CCS
* 7775/7795 CCS
P/L: **+$460**
[SPX 5-min chart, September 23, 2026](https://preview.redd.it/33zxo5ea7drh1.png?width=1541&format=png&auto=webp&s=82be74181ea96e2691aabaef78d42ace00e9b9f3)
***Getting the direction right won’t help your entry if the level you’re waiting on isn’t real.***
# Morning Thesis
Iran headlines, firmer oil, and a 10-year yield near 5% gave me a bearish lean, even with the recent strength in AI and tech. I wanted price to confirm it. SPX opened below the prior day close at 7764.64, broke the prior day low at 7756.26, and continued lower.
# My First Trade
**I had yesterday’s low marked incorrectly 😅** and waited for price to react to my mistaken level. By the time I caught it, I had missed the cleaner momentum entry. Around 6:55 a.m. PT, I corrected the level and sold **six 7775/7795 CCS at $0.50**.
A later, headline-driven bounce rejected, so I added **one 7770/7790 CCS at $0.50**. That short strike was closer to [the lava](https://www.reddit.com/u/klipsetrades/s/hg8xokZXIg). I kept the add to one contract rather than putting the profit from my six-lot position at greater risk.
# The Put Side
As SPX approached 7700, I wanted to look at PCS, but the farther 7640 short strike wasn’t paying enough for me. I built a **five-lot 7660/7640 PCS** anchor instead: **one at $0.20, three at $0.30, and one at $0.40**. I capped the anchor at five lots, then used two separate one-lot trades for quick scalps. Those scalps **added $50**.
My structural references were the 7700 psychological level and former weekly resistance near 7677, which I was watching as potential support. The 7660 short strike sat below that lower level. I watched those references for signs the put thesis was weakening and had a premium stop as another risk control.
***I do not recommend fighting a trend***, especially with a strong macro backdrop and especially if you’re new. I take these trades selectively because I have experience managing them. I keep the size small and define the structural and premium exits beforehand which is what I try to preach in [all my posts](https://www.reddit.com/user/klipsetrades/).
# Afternoon
I closed the five-lot PCS anchor on the rebound. The rest of the day was relatively easy to manage — SPX stayed well below my call strikes, so I did little on the CCS side and let theta work. Both CCS positions expired worthless.
# Mistakes I Made
I plotted the prior day low incorrectly, missed the cleaner bearish entry, and chased the move a bit after fixing it. I also meant to buy back all five anchor contracts at $0.15, but three filled at $0.20. That cost $15 gross compared with the exit I intended.
# Key Takeaway
**Verify the levels before the bell.**
A sound market read helped today, but accurate references, smaller adds, and defined exits made that read manageable.

I’m contemplating moving Δ to .12-15 and adding a similar CCS to cover the other direction, and maintain my ROI.

I'm a 0DTE credit spread trader with a focus on SPX.
Positions traded today:
* 7755/7735 PCS
* 7785/7805 CCS
* 7790/7810 CCS
P/L: **+$230**
[SPX 5-min chart, September 22, 2026](https://preview.redd.it/bvof09pi57rh1.png?width=1540&format=png&auto=webp&s=e386c823aae341f257389cf6dd603b984aa898c2)
***The most dangerous green day is one that rewards entries you shouldn’t repeat.***
# Morning Thesis
Yesterday’s AI-led strength and falling oil and yields had me leaning bullish. I wanted either clean continuation above the morning range or a convincing reaction at support before selling puts. Instead, SPX opened above yesterday’s high, rejected, and worked lower through overlapping, wicky candles.
A downside move didn’t automatically make me bearish. I had a prior weekly high near 7756 marked as potential support and wanted to see how price responded. SPX tested it, but the reaction was messy. That was an early sign that this might simply be a no-trade day for my strategy.
# My First Trade
After more than 3.5 hours, a headline-driven bounce through yesterday’s close stalled near morning structure. I used that rejection to sell **four 7785/7805 CCS at $0.35**. My short call was less than three points above the morning high. In choppy price action with low IV, that was closer to the lava than I wanted.
I had a stop limit loss at $0.90. A later Trump headline pushed SPX higher, and **stopped me out for a $220 loss**. Keeping size small and taking the stop were good risk controls, but they didn’t turn the entry into a good one. I also can’t assume a fast headline move will always give me that fill on a market order.
# The Rest of the Day
Around that same time, I sold **four 7755/7735 PCS at $0.70**. The short put sat just below the session low and close to the weekly level I had been watching. It was a position I might consider after a cleaner support reaction, but today’s chop gave me little confidence in it.
After the first CCS stopped and price showed some stability, I re-entered farther out — **four 7790/7810 CCS at $0.35**, then **one more at $0.30** at the last push at end of the day. I used yesterday’s high as my line of defense. SPX pushed toward that high late, rejected, and both remaining sides expired OTM.
# What I Did Wrong
Waiting 3.5 hours didn’t make the setup better. Overlapping candles, low IV, and weak follow-through were telling me neither side had a clean edge. I still treated one rejection near yesterday’s close as enough to sell the 7785/7805 CCS. Its short strike was less than three points above the morning high, while my 7755 short put sat just below the session low. Both were too close to the lava for that kind of chop.
After the first CCS stopped out, I re-entered the call side shortly after without the clearer structure I had wanted all morning. I followed my size and stop rules, but I let my desire to find a trade outweigh the quality of the setups. That left me managing more risk for less reward.
# What I Did Right
I reduced size, used a planned stop, and kept the first loss small enough to stay emotionally steady.
***Aim small, miss small.*** Those choices kept a poor trading day from becoming a much worse one.
# Key Takeaway
I was looking for price to prove my thesis when the cleaner signal was the lack of a setup. The strikes were close, the premium was thin, and I had to monitor these trades more than I wanted for the reward available.
I’m calling this **a bad trading day** even though it ended green. Price cooperated with my remaining positions, but that doesn’t make the entries worth repeating. Next time this kind of chop shows up, I’d rather save the mental energy and sit out.
***No trade is a trade.***