SPY @jeffcp66 style for small accounts.

Finally cleared out the trades from the small account and can start the SPY experiment. Credit spreads and iron condors with the goal of doubling the account in a year. Only $7100 so works out to needing to bring in about $140 and change per week and control losses.

Here’s the plan. Sell weekly SPY credit spreads or iron condors. Probably leg into them using my charting tools. Short call/put at 16 delta 21-28 DTE, long call/put 3-5 points higher/lower. Only 3-5 contracts given the size of the account. Each week add a new spread. As the expiring ones lose value close or roll them or if really looks like it will finish OTM then let expire.

Anything gets in trouble will try to roll like @jeffcp66, back ratio if there is enough time left, or convert to short term diagonal/calendar if needed by buying an option 1-2 months out. Other option is just set a stop loss, short goes ITM close at twice what took in and close/scratch it.

Looking at 21 DTE in am at 259/255 put spread and 270/274 call spread for 0.25-0.26 each side. 5 contracts brings in $255 with max risk of $2000. Will see where we open, if we bounce just open put side, if down overnight call side. Then add other side at next reversal.

By 12/29 should be close to max profit and ready to roll. See below.

#spxcampaign