I’m now one week short of being in the new positions for 3 months. Started these in the new ROTH IRA on March 5th 2026. Somewhere earlier I said that 2025 was about as bad as it could get needing to manage these to the upside where I feel most of the risk is. Boy was I wrong! How has the SPX strategy fared during this most recent historic massive run up?

Here’s the actual numbers:

Building positions:

15 added in Mar 2026
08 added in Apr 2026
02 added in May 2026

Lots of various sized roll ups (6 total) eventually getting everything to 7500 strike in 2030 expiration.

Total Cost to this point:

2,327,258.00

Total credit to close LEAPS:

1,812,500.00

Loss on LEAPS:

-514,758.00

Total premium received:

1,179,132.00

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Total gain:

664,374.00

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It’s nice to see that it’s still working pretty good in this crazy market. Typically the worst I’ve seen to this point over the last 3 years is keeping about 70 percent of premium received. In this market that number has dropped to about 56 percent. STILL GREAT PROFITS (114% annualized) but imagine what this will (could be) in a more normal market! Gonna keep plugging away and adding as I can. Assuming no implosion the next big add to the LEAPS could come in a couple weeks. Planning on adding 5 at a time and then recovering cash. As the position grows bigger the cash will be recovered even quicker. That’s the SPX Snowball rolling downhill!!

Good luck everyone!

#SPXSnowball