SPX Closed everything and reset to higher strikes.

Had 5 positions but one was closed quite awhile ago in a different account for a 211 point gain.

Other 4 positions:

SPX Dec 2027 5400/5400/5800 @ 202.0 debit (trade set Jun 05 2024)
SPX Dec 2028 5000/5000/5400 @ 283.0 debit (trade set Feb 08 2024)
SPX Dec 2029 5200/5200/5600 @ 360.0 debit (trade set Mar 07 2024)
SPX Dec 2029 5500/5500/5900 @ 308.0 debit (trade set Jul 15 2024)

Dec 2027 closed for 95.0 credit
Dec 2028 closed for 63.0 credit
Dec 2029 closed for 179.0 credit
Dec 2029 closed for 260.0 credit

Math:

Net loss on LEAPS:

-556.0

Total premium received from daily sales:

1087.0

Net gain on all positions combined:

531.0 (or 132.75 average per position all being rolled into the cost of the new positions)

Moral of the story:

This crazy experiment has given me great data for the future. It’s possible to have really good profits shorting SPX in a crazy up market due to more than offsetting the rise with daily put sales. A flat to slightly descending market would be fantastic. (it can’t go up forever! LOL)

For simplicity I’ve reset everything to just 2028 and 2029 all at the same strikes.

SPX Dec 2028 5800/5800/6200 @ 288.0 debit (trade set Oct 18 2024)
SPX Dec 2029 5800/5800/6200 @ 355.0 debit (trade set Oct 18 2024)

With 2 of each of these the total debit is 1286.0 minus the 531.0 profits the cost has already been greatly reduced to 188.75 per position. Daily sales will reach the bottom line much quicker now. We’ll call it my #SPXsnowball 🙂 🙂 🙂