Sold 1 IREN 10/16/2026 25/27 Bull Put Spread at $0.13 Credit
#EveryLittleBitHelps
Daily Archives: Thursday, October 15, 2026
PEP stock
Sold out of my last tiny PEP position at $131.01
XSP
Rolled XSP 15 Oct 774 Put to XSP 16 Oct 770 @ 0.44 Credit….
SPY
One night stand.
Bought to Close SPY Nov 20 2026 725.0 Puts @ 2.94 (sold for 3.95)
Bought to Close SPY Nov 20 2026 730.0 Puts @ 3.30 (sold for 4.00)
SPX
2030 is a LONG way off. Any roll downs especially for credits is more profits on the back end at expiration if the drop continues for 4 more years. One of these days we won’t get a V shaped recovery and these roll downs will really pay off. We’ll be able to sell all of these strikes again on a gradual rise. I’ve got no problem rolling down especially when it’s not a violent move. Only good can come from it. Patience grasshopper. 🙂 🙂
Using the bounce for tomorrow’s rolls too. Attending the National Long Drive Championships tomorrow. 🙂 🙂
Daily:
Going out a week with two thirds of my position. Have the other third on Monday.
Rolled SPX Oct 16 2026 7775.0 Puts to Oct 23 2026 7750.0 Puts @ 7.00 credit
Rolled SPX Oct 16 2026 7765.0 Puts to Oct 23 2026 7725.0 Puts @ 2.30 credit
Ladder:
Rolled SPX Oct 15 2026 7750.0 Puts to Oct 20 2026 7725.0 Puts @ 9.00 credit
Rolled SPX Oct 16 2026 7750.0 Puts to Oct 21 2026 7725.0 Puts @ 3.30 credit
Holding down the front lines. Hang tough boys!!
Rolled SPX Oct 16 2026 7850.0 Puts to Oct 23 2026 7850.0 Puts @ 4.50 credit
TLT
Taking the quickie on the big bounce.
Sold to Close 15 TLT Jan 21 2028 80.0/100.0 Bull Call Spreads @ 4.32 (bought for 3.45)
SPX rolls
The bounce is giving me a good opportunity to roll down on the dailies:
Rolled $SPX Oct 15 7700 puts out to Oct 16 7685 puts @ 6.45 credit
Rolled $SPX Oct 15 7720 puts out to Oct 16 7700 puts @ 4.50 credit
Rolled $SPX Oct 15 7730 puts out to Oct 16 7715 puts @ 4.35 credit
Rolled $SPX Oct 15 7745 puts out to Oct 16 7735 puts @ 3.55 credit
SPX
Rolled SPX 15 Oct 7680 Put to SPX 20 Oct 7605 Put @ 5.50 Credit
Current Ladder
16 Oct 7685 Put
19 Oct 7595 Put
20 Oct 7605 Put
3 Leaps 7900 Dec 2030
#fuzzyleaps
XSP rolls 10/15/26
#FuzzyLEAPs
Rolled $XSP Oct 15th 778 puts to Oct 19th 778 puts, .30 credit
Rolled $XSP Oct 15th 780 puts to Oct 20th 780 puts, .02 credit
Frankly, I’m very frustrated with my failure to properly track another drop. So I rolled early and am getting away from my screens for the day.
SPX
Trying to stay OTM, so I used my conservative target (see post below):
#fuzzyleaps
Premarket:
Rolled SPX Oct 15 2026 7705 Put to Oct 20 2026 7655 Put @ 5.50 credit.
Ladder now:
Oct 16 7715 Put
Oct 19 7735 Put (ITM)
Oct 20 7655 Put
LEAPs:
3 @ 7700
SPX (yesterday’s close):
7718
SPX Musings
I have been re-thinking my target premium again, in an effort to stay as conservative as possible, in case I decide to really scale up my allocation to #fuzzyleaps in the future. I just wanted to post my latest thinking, in order to let you guys chime in with criticisms, suggestions, etc.
I think that we can divide the premium we need to bring in, into 2 categories. One, we need to cover the cost of the LEAPs, and two, we would like to make some kind of profit on the cash allocated when all is said and done. With that in mind, let’s start with the LEAPs.
LEAPs Target:
At a bare minimum, it seems to me that we at least need to pay off our LEAPs by expiration (so 4 years in the future). Of course, the LEAPs won’t really be worth zero in 4 years, but assuming that they will be, establishes a conservative target threshold. Since I allocate enough money to cover several rollups over time, let’s call that $100,000 per LEAP that must be paid for over the 4-year period. Drilling that down to establish a minimum annual target leaves us with:
$100,000 / 4 = $25,000 premium needed per LEAP per year.
But, as I said, we also would like to make some kind of profit over the 4 years. The question is, what minimum number is reasonable? Here is my thinking on that.
Profit Target:
In order to participate in gains in SPX, one could simple buy and hold SPY. Long term, history says that doing that would result in an average (including dividends) of around 10% per year. Of course, the future can and will be different, but a 100-year track record is hard to argue with. So, if we want to try to beat that somehow using the SPX options market, what is a reasonable target to shoot for?
While I am tempted to try for some way higher number, such as 50%, what I am trying to establish here is a minimum, and therefore conservative, goal. For me, I think that doubling the buy-and-hold average is enough to make it worth the effort, but not so much that it’s too optimistic. So, let’s try using a 20% annual return target and see where that gets us.
$100,000 X 0.2 = $20,000 premium needed per LEAP per year.
So the total now is:
$25,000 + $20,000 = $45,000 needed per LEAP per year.
Divided by 250 trading days per year:
$45,000 / 250 = $180 needed per LEAP per day.
Multiplied by my current 3 LEAPs:
$180 X 3 = $540 total premium needed per day to achieve the stated goal.
So, if we are trying to establish a minimum threshold premium per day, this seems to me to be a reasonable target. Not so conservative as to make it not worth doing, but profitable enough to serve as a minimum goal. What do you guys think? Thanks in advance for any input!
Edit (on 10/19/2026):
After rethinking all of this over the weekend, I have decided to go back to targeting around 7.00 per day. Here’s why.
If I want to make 20% per year on my $100k per LEAP, that equals $20k. Divided by 250 trading days = .80 points per day per LEAP.
If I assume a 20% up year for the SPX, then my losses are 349 due to delta, and 41 due to theta (1-year), for a total of 390 points ($39,000) per LEAP. So, the total I need to bring in per day = 390/250 = 1.56 points per LEAP.
Adding the two = 2.36 points per day per LEAP, so 7.08 points per day for 3 LEAPs.
