Been running this in my own account as a test before moving over to my daughter’s account. Wanted to make sure SPY worked similar to SPX. Here’s the results for 8 weeks total on a 5 lot.

Set position on Sep 4th and rolled them up on Oct 21 (Dec 2027 660/660/700)
Closed position this afternoon.

Loss on LEAPS of 4425
Total premium received: 12465

Net gain: 8040
Net gain per position: 1608

Works fine but I feel like SPX works a little better. Maybe because SPX LEAPS are a lot further out in time…not really sure. Still overall I’ll use it until the account grows enough to switch over to SPX. SPX has no early assignment risk and better tax treatment also.

New position now in different account is Jan 2028 680/680/720