Last January Option

This is a graph of today’s Russell 2000.
It opened down from yesterday’s close.
At 10a, I sold a JAN 720/710 Call spread for $1.60 (expiring tomorrow).
Since there is talk of the Fed doing an emergency rate cut at any time, I bracketed it with sell orders. It would sell if the cost to buy back hit $0.60 or $2.50
At noon it bought back at $2.55 for a $0.95 loss.
In that time period the stock went from 695.5 to 700.3, a difference of 4.8
Even if I had put the stop further away, by 12:15p, the stock had gone up 6.4 before it went back down.
The only time it went below where I bought it was at 10:52 @ 694.2 which would have been a profit of $1.30
Instead I had a loss of $0.95
Yet again, another loss. And it didn’t go anywhere near the option. Yet when I've let options go without a protective stop, it keeps going and increasing the loss.

Okay, time to analyze this.
I sold an option with only 2 days to expire. Safer to sell with shorter time exposed to risk.

But….
It had no component of time decay to dampen price fluctuations and that's what got me.