CCS
CENTURY COMMUNITIES, INC.
stock NYSE

I'm a 0DTE credit spread trader with a focus on SPX.
Positions traded today:
* 7650/7670 CCS
P/L: **+$120**
[SPX 5-min chart, September 17, 2026](https://preview.redd.it/y6lje0gui6qh1.png?width=2560&format=png&auto=webp&s=2934a93d3bad0aabffcf48ebab7bb01b7f1aef8f)
***A profitable trade doesn’t automatically make it a good trade. Today was a pretty good example of that.***
*Quick side note before getting into it: you guys are going to have to forgive me for the delayed posts today and tomorrow. I’m traveling and have a few other things going on through the weekend. I’m actually writing this post from a plane right now, so I guess we’re taking Klipse sky high today ✈️*
# Morning Thesis
I came into today fairly mixed. We had a strong recovery following yesterday’s Fed reaction, with oil sharply lower and the 10Y back below 5%, while the labor/manufacturing data remained relatively strong and hawkish.
I didn’t really want to force a directional bias. My original thought was that the rate hike could keep some pressure on SPX, so I was initially more interested in CCS setups. At the same time, I wanted the market to digest yesterday’s Fed decision and show me what it actually wanted to do.
SPX initially pushed higher after the open, sold off sharply into the morning low, and then recovered quickly. Once it reclaimed yesterday’s high and started grinding higher, my original CCS-only idea wasn’t really developing. Instead, the two-way action started making me think we might remain range bound.
That ended up being the thesis I decided to test.
# Waiting for the Setup
I spent almost three hours waiting for something resembling a cleaner break-and-hold outside the morning structure. But it never really came.
Eventually SPX consolidated around the mid-7630s, and when price broke below that midday range around **7635**, I entered **one 7650/7670 CCS for $1.00**.
*This is where my execution could have been better.*
I entered mostly because of the downside break. I didn’t wait for much additional confirmation that the move was actually going to continue.
The very next move started working against me.
# My First Trade
Because this was a closer, higher-premium spread, I wasn't planning on sitting there holding it until expiration and hoping.
My risk was defined from the start. I was watching roughly **7640 as structural invalidation**, while also using a **$2.00 premium stop** with a market-order execution backstop if price moved quickly.
Most importantly, I started with ***one contract***.
As SPX pushed higher against me, I added **one more at $1.40**. Two contracts was my maximum exposure because I knew I didn't have a good read on the session.
SPX continued chopping around, we got some headline-driven movement, and my exit was nearly touched without filling.
Eventually the chop worked back in my favor and theta continued eating away at the contracts. Both spreads ultimately closed at **$0.60**, giving me **+$120** on the day.
# Why I'm Not Calling This a Good Trade
The trade worked. My directional read did not.
I thought SPX would remain contained enough for the CCS side to work and potentially allow me to build a PCS later. Instead, SPX continued generally grinding higher. The PCS opportunity I was waiting for never developed.
Really, the thing that bailed this trade out was **time**.
SPX chopped around long enough that **theta did what I wanted price to do.** That's one of the beauties of credit spreads: you don't always need to be perfectly right about direction to make money.
***BUT*** there's an important distinction there...
**Being saved by the structure of the trade doesn't mean the entry was good.**
I don't want to look at the +$120 and convince myself that entering with weak confirmation was suddenly the correct decision.
# The Part I Actually Liked
***The best decision I made today was keeping my size small.***
I didn't have a strong bias. The market wasn't giving me the setup I originally wanted. My thesis had already changed once. That isn't the environment where I want to suddenly put meaningful size behind an idea.
When my first 1-lot started working against me, I was looking at roughly a **$40–$60 drawdown**, not several hundred dollars.
That's a completely different psychological situation.
A $40–$60 scratch isn't something that should make me start negotiating with my stop, staring at every candle, or hoping the market comes back.
If I had entered four, five, or ten contracts with the same mediocre setup, suddenly that exact same price movement becomes emotionally significant. And that's how bad decisions start stacking.
This is why I keep coming back to something that sounds incredibly boring: **When you're unsure, either stay out or stay small.**
Boring is good. Boring lets you manage the trade instead of the trade managing you.
# Key Takeaway
Today probably could have been another [no-trade day](https://www.reddit.com/r/Daytrading/s/MPkvICBlmN).
I made money, but I don't think the result validates the entry. I waited almost three hours for better confirmation, didn't get it, changed my thesis, and then entered a trade with less confirmation than I normally want.
Theta ultimately helped me out. But the lesson isn't that I successfully made $120. The lesson is that **small size gave me enough room to be wrong without becoming emotional about being wrong.**
***A green P/L can hide poor execution.*** Good risk management makes sure one questionable trade doesn't turn into something much worse.

I'm a 0DTE credit spread trader with a focus on SPX.
Positions traded today:
* 7650/7670 CCS
P/L: **+$120**
[SPX 5-min chart, September 17, 2026](https://preview.redd.it/y6lje0gui6qh1.png?width=2560&format=png&auto=webp&s=2934a93d3bad0aabffcf48ebab7bb01b7f1aef8f)
***A profitable trade doesn’t automatically make it a good trade. Today was a pretty good example of that.***
*Quick side note before getting into it: you guys are going to have to forgive me for the delayed posts today and tomorrow. I’m traveling and have a few other things going on through the weekend. I’m actually writing this post from a plane right now, so I guess we’re taking Klipse sky high today ✈️*
# Morning Thesis
I came into today fairly mixed. We had a strong recovery following yesterday’s Fed reaction, with oil sharply lower and the 10Y back below 5%, while the labor/manufacturing data remained relatively strong and hawkish.
I didn’t really want to force a directional bias. My original thought was that the rate hike could keep some pressure on SPX, so I was initially more interested in CCS setups. At the same time, I wanted the market to digest yesterday’s Fed decision and show me what it actually wanted to do.
SPX initially pushed higher after the open, sold off sharply into the morning low, and then recovered quickly. Once it reclaimed yesterday’s high and started grinding higher, my original CCS-only idea wasn’t really developing. Instead, the two-way action started making me think we might remain range bound.
That ended up being the thesis I decided to test.
# Waiting for the Setup
I spent almost three hours waiting for something resembling a cleaner break-and-hold outside the morning structure. But it never really came.
Eventually SPX consolidated around the mid-7630s, and when price broke below that midday range around **7635**, I entered **one 7650/7670 CCS for $1.00**.
*This is where my execution could have been better.*
I entered mostly because of the downside break. I didn’t wait for much additional confirmation that the move was actually going to continue.
The very next move started working against me.
# My First Trade
Because this was a closer, higher-premium spread, I wasn't planning on sitting there holding it until expiration and hoping.
My risk was defined from the start. I was watching roughly **7640 as structural invalidation**, while also using a **$2.00 premium stop** with a market-order execution backstop if price moved quickly.
Most importantly, I started with ***one contract***.
As SPX pushed higher against me, I added **one more at $1.40**. Two contracts was my maximum exposure because I knew I didn't have a good read on the session.
SPX continued chopping around, we got some headline-driven movement, and my exit was nearly touched without filling.
Eventually the chop worked back in my favor and theta continued eating away at the contracts. Both spreads ultimately closed at **$0.60**, giving me **+$120** on the day.
# Why I'm Not Calling This a Good Trade
The trade worked. My directional read did not.
I thought SPX would remain contained enough for the CCS side to work and potentially allow me to build a PCS later. Instead, SPX continued generally grinding higher. The PCS opportunity I was waiting for never developed.
Really, the thing that bailed this trade out was **time**.
SPX chopped around long enough that **theta did what I wanted price to do.** That's one of the beauties of credit spreads: you don't always need to be perfectly right about direction to make money.
***BUT*** there's an important distinction there...
**Being saved by the structure of the trade doesn't mean the entry was good.**
I don't want to look at the +$120 and convince myself that entering with weak confirmation was suddenly the correct decision.
# The Part I Actually Liked
***The best decision I made today was keeping my size small.***
I didn't have a strong bias. The market wasn't giving me the setup I originally wanted. My thesis had already changed once. That isn't the environment where I want to suddenly put meaningful size behind an idea.
When my first 1-lot started working against me, I was looking at roughly a **$40–$60 drawdown**, not several hundred dollars.
That's a completely different psychological situation.
A $40–$60 scratch isn't something that should make me start negotiating with my stop, staring at every candle, or hoping the market comes back.
If I had entered four, five, or ten contracts with the same mediocre setup, suddenly that exact same price movement becomes emotionally significant. And that's how bad decisions start stacking.
This is why I keep coming back to something that sounds incredibly boring: **When you're unsure, either stay out or stay small.**
Boring is good. Boring lets you manage the trade instead of the trade managing you.
# Key Takeaway
Today probably could have been another [no-trade day](https://www.reddit.com/r/Daytrading/s/MPkvICBlmN).
I made money, but I don't think the result validates the entry. I waited almost three hours for better confirmation, didn't get it, changed my thesis, and then entered a trade with less confirmation than I normally want.
Theta ultimately helped me out. But the lesson isn't that I successfully made $120. The lesson is that **small size gave me enough room to be wrong without becoming emotional about being wrong.**
***A green P/L can hide poor execution.*** Good risk management makes sure one questionable trade doesn't turn into something much worse.