Today I took a trade and I barely lost any money, but Im extremely confused what happened. Im hoping someone can explain it to me. I don't have any pictures to show, but I can provide if anyone asks.
Today at around 10:15 est, after SPY dumped to 688, I bought 4 0dte calls @ 690. I bought these when SPY was at about 688.50.
2-3 minutes later SPY jumped over a dollar in less than a minute, however, the value of my contracts were exactly the same. So now my new baseline for profit was 689.80; if SPY went over this price I would profit. I ended up selling when it jumped back down a bit for a 15 dollar loss.
Why did I lose money even though SPY over a dollar in about a minute? I was in the trade for a total of about 10 minutes and feel like I lost out on at least 3-400 dollars in value. I've never had this happen before.