No Fed fireworks. Bummer. LOL Still an unchanged day so can’t complain.

Bought to Close SPX Feb 19 2025 6100.0 Put @ .40 (sold for 10.75)

Sold SPX Feb 20 2025 6110.0 Put @ 5.90

Bought to Close SPX Feb 19 2025 6075.0 Puts @ .50 (sold for 6.05)

Sold SPX Feb 20 2025 6100.0 Puts @ 6.50

Still holding a 6100 for today.

As I’ve said a few times, the biggest risk I see to these SPX trades is the distance between the daily put being sold and the long put LEAP it’s being sold against. And by risk it’s really only the risk of an unrealized loss that you have to endure for awhile. Here’s how I’m handling those now.

Rolled SPX Dec 2029 5800/5800/6200 to Dec 2029 6100/6100/6500 @ 81.50 debit

This does a couple things. It reduces buying power required due to the narrow gap in the put sale spread and allows more aggressive daily selling because that gap has been closed. In the big scheme of things out to 2029 it’s a small price to pay for an adjustment. I’ll add that to the original cost basis for long term tracking.

Using the rental house analogy….if you own the house long enough you’ll have to eventually use some of the rent income for new carpet or a fresh coat of paint. LOL. Just some needed maintenance.

Another round. Giving Mr. Market one position he can really sink his teeth into. LOL

Bought to Close SPX Feb 18 2025 6055.0 Put @ .70 (sold for 12.00)
Bought to Close SPX Feb 18 2025 6055.0 Put @ .70 (sold for 14.95)
Bought to Close SPX Feb 18 2025 6055.0 Put @ .70 (sold for 15.20)
Bought to Close SPX Feb 18 2025 6055.0 Put @ .70 (sold for 16.25)
Bought to Close SPX Feb 18 2025 6060.0 Put @ 1.05 (sold for 14.10)
Bought to Close SPX Feb 18 2025 6060.0 Put @ 1.05 (sold for 14.95)
Bought to Close SPX Feb 18 2025 6075.0 Put @ 1.50 (sold for 16.50)

Sold SPX Feb 19 2025 6075.0 Puts @ 5.70, 5.95, 6.55
Sold SPX Feb 19 2025 6100.0 Put @ 10.75 come and get it!

EDIT: Messed up my copy/paste. Corrected now.

Roll out to Tue and slightly up.

Rolled SPX Feb 14 2025 6040.0 Put to Feb 18 2025 6055.0 Put @ 5.00 credit (12.00 total now)
Rolled SPX Feb 14 2025 6045.0 Put to Feb 18 2025 6055.0 Put @ 4.75 credit (14.95 total now)
Rolled SPX Feb 14 2025 6045.0 Put to Feb 18 2025 6055.0 Put @ 4.75 credit (15.20 total now)
Rolled SPX Feb 14 2025 6050.0 Put to Feb 18 2025 6055.0 Put @ 4.25 credit (16.25 total now)
Rolled SPX Feb 14 2025 6055.0 Put to Feb 18 2025 6060.0 Put @ 4.60 credit (14.10 total now)
Rolled SPX Feb 14 2025 6060.0 Put to Feb 18 2025 6060.0 Put @ 4.75 credit (14.95 total now)
Rolled SPX Feb 14 2025 6065.0 Put to Feb 18 2025 6075.0 Put @ 7.00 credit (16.50 total now)

Was hoping for some craziness but no joy.

Sold SPX Feb 14 2025 6040.0 Put @ 7.00
Sold SPX Feb 14 2025 6045.0 Put @ 10.20
Sold SPX Feb 14 2025 6045.0 Put @ 10.50
Sold SPX Feb 14 2025 6050.0 Put @ 12.00
Sold SPX Feb 14 2025 6055.0 Put @ 9.50
Sold SPX Feb 14 2025 6060.0 Put @ 10.20
Sold SPX Feb 14 2025 6065.0 Put @ 9.50

Adding to the LEAPS position.

SPX Dec 2029 6100/6100/6500 @ 336.0 debit

Taking a shot on at least some sort of a down move. Not much decay left in these for the next couple hours so I’ll just reload tomorrow either way.

Bought to Close SPX Feb 13 2025 6030.0 Put @ 2.75 (sold for 21.05)
Bought to Close SPX Feb 13 2025 6045.0 Puts @ 2.70 (sold for 22.55)

Out a day and up a strike.

Rolled SPX Feb 12 2025 6025.0 Put to Feb 13 2025 6030.0 Put @ 10.00 credit (21.05 total now)

Roll out to tomorrow on the little bounce.

Rolled SPX Feb 12 2025 6045.0 Puts to Feb 13 2025 6045.0 Puts @ 9.75 credit (22.55 total now)

And the rest…

Bought to Close SPX Feb 11 2025 6045.0 Puts @ .80 (sold for 8.60)

Sold SPX Feb 12 2025 6045.0 Puts @ 12.80

One filled. Everything else sitting at 6045 today.

Bought to Close SPX Feb 11 2025 6025.0 Put @ 1.05 (sold for 14.50)

Sold SPX Feb 12 2025 6025.0 Put @ 11.05

Finally booking all the rolls and re-loading.

Bought to Close SPX Feb 10 2025 6035.0 Puts @ .30 (sold for 35.60)
Bought to Close SPX Feb 10 2025 6035.0 Puts @ .30 (sold for 64.25)

Sold SPX Feb 11 2025 6045.0 Puts @ 8.60

Closing this in another account. This is how you imagine these going in a perfect world (sideways choppy). LOL Opened on Nov 26 2024. Market is only 35 points higher now.

LEAPS made money while collecting daily premium.

Sold to Close SPX Dec 2029 6000/6000/6400 Synthetic Short Stock @ 318.0 credit (bought for 305.0)

Bought to Close SPX Feb 10 2025 6035.0 Put @ 2.45 (sold for 59.25)

So:

LEAPS gain: 13.00
Current short put gain: 56.80
Previous premium received: 68.05

Net gain: 137.85

EDIT: More data collected now. In a straight up market these average about 50 cents on a dollar profit of premium collected. In a near perfect world as we see here it’s over a dollar of profit per dollar collected. Overall in a wide variety of positions looking at around 70 cents on a dollar.

From an old post earnings trade repair. I’ll take it!

Bought to Close ADBE Feb 21 2025 420/410/420 Inverted Jade Lizard @ 10.40 (sold for 10.10)

As long as we stay above 6035 should be booking a bunch of premium today. As current positions get paid off I’ll keep adding until reaching my max. Adding another one.

SPX Dec 2029 6000/6000/6400 @ 327.0 debit

Sold SPX Feb 11 2025 6025.0 Put @ 14.50

Moving some stuff around today. To simplify things having one account for SPX only and one account for SPY and whatever else happens to come along.

Bought to Close SPY Feb 21 2025 580.0 Puts @ .72 (sold for 2.30)

Bought to Close SPY Mar 21 2025 570.0 Put @ 2.76 (sold for 3.30)
Bought to Close SPY Mar 21 2025 575.0 Put @ 3.28 (sold for 3.82)
Bought to Close SPY Mar 21 2025 580.0 Put @ 3.81 (sold for 4.52)

This was leftover from selling it against a synthetic short position. Closed the short on the big drop now getting out of this and waiting for earnings on the 26th.

Bought to Close NVDA Mar 21 2025 115.0 Put @ 4.62 (sold for 5.10)

Looking a little weak so rolling down slightly.

Rolled SPX Feb 07 2025 6040.0 Put to Feb 10 2025 6035.0 Put @ 12.50 credit. (35.50 total now)

Rolled SPX Feb 07 2025 6050.0 Put to Feb 10 2025 6035.0 Put @ 4.50 credit. (59.15 total now)
Rolled SPX Feb 07 2025 6050.0 Puts to Feb 10 2025 6035.0 Puts @ 5.00 credit. (35.60 total now)
Rolled SPX Feb 07 2025 6050.0 Puts to Feb 10 2025 6035.0 Puts @ 5.00 credit. (64.20 total now)

Adding.

Sold SPY Mar 21 2025 570.0 Put @ 3.30

Starter ladder below the 100 day.

Sold SPY Mar 21 2025 575.0 Put @ 3.82
Sold SPY Mar 21 2025 580.0 Put @ 4.52

Rolling this one up to where we closed last Friday.

Rolled SPX Feb 07 2025 6000.0 Put to Feb 07 2025 6040.0 Put @ 8.00 credit. (23.00 total now)

Nice three day bounce. I’ll take these and see how earnings looks later.

Bought to Close NVDA Feb 28 2025 95.0 Puts @ .60 (sold for 1.50)
Bought to Close NVDA Mar 21 2025 85.0 Puts @ .61 (sold for 1.68)

Taking the rest of a decent size position off at 85-90 percent of max a couple weeks early.

Bought to Close TLT Feb 21 2025 87.5 Put @ .31 (sold for 1.79)
Bought to Close TLT Feb 21 2025 87.0 Puts @ .23 (sold for 1.48)
Bought to Close TLT Feb 21 2025 86.5 Puts @ .16 (sold for 1.24)
Bought to Close TLT Feb 21 2025 86.0 Puts @ .13 (sold for 1.00)
Bought to Close TLT Feb 21 2025 85.5 Puts @ .09 (sold for .82)
Bought to Close TLT Feb 21 2025 85.0 Puts @ .06 (sold for .60)

Going out to Friday and down a strike. This gets all the daily sales back in the same spot.

Rolled SPX Feb 05 2025 6055.0 Puts to Feb 07 2025 6050.0 Puts @ 11.60 credit (30.60 total now on these)

Assigned on Feb 88 strike put. Strange since it was just ITM by a few cents. I’ll take it though.

Sold TLT Shares @ 89.42 (bought for 85.88)

Taking these off for 40 percent of max in a couple days.

Bought to Close SPY Mar 21 2025 550.0 Put @ 2.04 (sold for 3.50)
Bought to Close SPY Mar 21 2025 555.0 Put @ 2.36 (sold for 4.00)

Sold too early so booking them for beer money.

Bought to Close SPY Mar 21 2025 561.0 Put @ 2.82 (sold for 2.95)
Bought to Close SPY Mar 21 2025 569.0 Put @ 3.62 (sold for 3.80)
Bought to Close SPY Mar 21 2025 575.0 Put @ 4.38 (sold for 4.65)
Bought to Close SPY Mar 21 2025 580.0 Put @ 5.17 (sold for 5.40)

Nothing crazy yet. Just out a day and see what happens next.

Rolled SPX Feb 04 2025 6055.0 Puts to Feb 05 2025 6055.0 Puts @ 7.00 credit (19.00 total now)

Don’t really want assigned early so rolling my most aggressive position. Everything else sitting down at 95 and 85.

Rolled NVDA Feb 07 2025 125.0 Put to Mar 21 2025 115.0 Put @ .55 credit (5.10 total now)

Nothing crazy yet. Just out a day and see what happens next.

Rolled SPX Feb 03 2025 6055.0 Puts to Feb 04 2025 6055.0 Puts @ 5.50 credit (12.00 total now)

Filled on a couple.

Sold SPY Mar 21 2025 550.0 Put @ 3.50
Sold SPY Mar 21 2025 555.0 Put @ 4.00

Back in again. Had to use some odd strikes so I wouldn’t get hit with day trading.

Sold SPY Mar 21 2025 561.0 Put @ 2.95
Sold SPY Mar 21 2025 569.0 Put @ 3.80
Sold SPY Mar 21 2025 575.0 Put @ 4.65
Sold SPY Mar 21 2025 580.0 Put @ 5.40

Here ya go Mr. Market. Now sitting just outside half the expected move.

Rolled SPX Feb 7 2025 6025.0 Puts to Feb 7 2025 6050.0 Puts @ 5.50 credit (59.35 total now)
Rolled SPX Feb 7 2025 6025.0 Put to Feb 7 2025 6050.0 Put @ 5.50 credit (54.80 total now)

Still playing the swings. 35 percent of max in a couple days.

Bought to Close SPY Mar 21 2025 560.0 Put @ 1.96 (sold for 3.15)
Bought to Close SPY Mar 21 2025 565.0 Put @ 2.28 (sold for 3.60)
Bought to Close SPY Mar 21 2025 570.0 Put @ 2.63 (sold for 4.25)

Bought to Close SPX Jan 31 2025 6035.0 Puts @ .50 (sold for 43.65)

Sold SPX Feb 03 2025 6055.0 Puts @ 6.50

Adding.

Sold NVDA Mar 21 2025 85.0 Puts @ 1.68

Taking gains on short LEAPS position.

Sold to Close Jan 2027 125/125/150 Synthetic Short @ 24.30 (bought for 19.30)

And:

Rolled NVDA Jan 31 2025 125.0 Put to Feb 07 2025 Put @ 2.50 credit (4.55 toal now)

Earlier.

Sold to Close SPX Feb 07 2025 5850.0/5825.0 Bear Put Spread @ 2.75 (bought for 2.60)

Sold SPY Mar 21 2025 560.0 Put @ 3.15
Sold SPY Mar 21 2025 565.0 Put @ 3.60
Sold SPY Mar 21 2025 570.0 Put @ 4.25

Selling down around the Aug lows. Earnings week I believe.

Sold NVDA Feb 28 2025 95.0 Puts @ 1.50

Following Iceman into a short NVDA play. Going out as far as possible and setting up a synthetic.

Jan 2027 125/125/150 Synthetic Short @ 19.30 debit (sell 125/150 BeCS and buy 125 put)

Sold NVDA Jan 31 2025 125.0 Put @ 2.05

Fed tomorrow so taking 30 percent of max in a day.

Bought to Close SPY Feb 21 2025 575.0 Put @ 1.84 (sold for 3.29)

Bought to Close SPY Mar 21 2025 550.0 Put @ 2.26 (sold for 3.25)
Bought to Close SPY Mar 21 2025 560.0 Put @ 2.93 (sold for 4.25)
Bought to Close SPY Mar 21 2025 570.0 Put @ 3.85 (sold for 5.25)
Bought to Close SPY Mar 21 2025 575.0 Put @ 4.46 (sold for 6.35)

These were sold to offset losses on some SPX iron flies that will go out Friday with losses. Moving them out to a little safer place.

Bought to Close SPY Jan 31 2025 595.0 Put @ 1.23 (sold for 4.35)
Bought to Close SPY Jan 31 2025 600.0 Put @ 2.30 (sold for 6.25)

Sold SPY Feb 21 2025 580.0 Puts @ 2.30

JP protection.

Bought to Open SPX Feb 07 2025 5850.0/5825.0 Bear Put Spread @ 2.60

On the little pop bringing these back down again.

Rolled SPX Jan 31 2025 6055.0 Puts to Feb 7 2025 6025.0 Puts @ 6.10 credit (53.85 total now)
Rolled SPX Jan 31 2025 6060.0 Put to Feb 7 2025 6025.0 Put @ 3.60 credit (49.30 total now)

A couple more below the 100 day and near the Jan low.

Sold SPY Feb 21 2025 575.0 Put @ 3.29
Sold SPY Mar 21 2025 575.0 Put @ 6.35

A couple more.

Sold SPY Mar 21 2025 550.0 Put @ 3.25
Sold SPY Mar 21 2025 570.0 Put @ 5.25

Only fill I got. Down at the 200 day.

Sold SPY Mar 21 2025 560.0 Put @ 4.25

Taking it off here.

Sold to Close SPX Feb 21 2025 5975.0/5950.0 Bear Put Spread @ 8.00 (bought for 4.60)

Rolling partial.

Rolled SPX Jan 31 2025 6035.0 Puts to Jan 31 2025 6055.0 Puts @ 4.00 credit (47.75 total now)
Rolled SPX Jan 31 2025 6035.0 Put to Jan 31 2025 6060.0 Put @ 5.10 credit (45.70 total now)

Moving from Mar to Feb and adding.

Bought to Close TLT Mar 21 2025 85.0 Puts @ 1.25 (sold for 2.17)
Bought to Close TLT Mar 21 2025 87.0 Put @ 2.11 (sold for 2.10)

Sold TLT Feb 21 2025 85.0 Puts @ .60
Sold TLT Feb 21 2025 85.5 Puts @ .82
Sold TLT Feb 21 2025 86.0 Puts @ 1.00
Sold TLT Feb 21 2025 86.5 Puts @ 1.24
Sold TLT Feb 21 2025 87.0 Puts @ 1.48
Sold TLT Feb 21 2025 87.5 Put @ 1.79
Sold TLT Feb 21 2025 88.0 Put @ 2.12

Sold these last week and they’re getting demolished. But…they’ve enticed Mr. Market to come up to my SPX puts that were sold against the LEAPS which is where my big premium is sitting.

Sold SPX Jan 31 2025 5995/6000 Bear Call Spreads @ 1.25

So:

Sold SPX Jan 31 2025 6000/5995 Bull Put Spreads @ .75

6 contracts so max loss is $1800 locked in even if we tank. Agressive SPY puts sold reduce this to 800. Roll up of SPX put sales against LEAPS brings in waaaay more so all good. See where we end up next Friday to manage all this.

Hindsight:

Had I known about the impending rally I would have just sat on my hands. LOL

Wanting to add lower but just not getting weak enough. See if I can get Mr. Market to come on down!

Sold TLT Mar 21 2025 87.0 Put @ 2.10

Sold against the LEAPS position.

Rolled SPX Jan 31 2025 6025.0 Puts to Jan 31 2025 6035.0 Puts @ 2.25 credit (43.75 total now)
Rolled SPX Jan 31 2025 6025.0 Put to Jan 31 2025 6035.0 Puts @ 2.25 credit (40.60 total now)

See if we get a little pullback over the next 30 days.

Bought to Open SPX Feb 21 2025 5975.0/5950.0 Bear Put Spread @ 4.60

Sold against the LEAPS position.

Rolled SPX Jan 31 2025 6010.0 Puts to Jan 31 2025 6025.0 Puts @ 3.00 credit (41.50 total now)
Rolled SPX Jan 31 2025 6010.0 Put to Jan 31 2025 6025.0 Puts @ 2.95 credit (38.35 total now)

Hedge against the hedge against the hedge that’s sold against my hedge. (I think)

Jan 31 expiration:

Short SPX 6010 puts against LEAPS.
SPX Bear call spreads @ 5995/6000

And now to cap the rally:

Sold SPY Jan 31 2025 595.0 Put @ 4.35
Sold SPY Jan 31 2025 600.0 Put @ 6.25

What would I like to see? Down a little without a crash. Maybe SPX 5990 at expiration. If needed I can still sell SPX put spreads aganst the call spreads. The real money is in the SPX 6010 puts though.

In and out for the second time in Jan. Taking 60 to 70 percent of max a month or two early.

Bought to Close SPY Feb 21 2025 550.0 Put @ 1.14 (sold for 3.00)
Bought to Close SPY Feb 21 2025 560.0 Put @ 1.61 (sold for 3.35)

Bought to Close SPY Mar 21 2025 510.0 Put @ 1.29 (sold for 3.00)
Bought to Close SPY Mar 21 2025 520.0 Put @ 1.57 (sold for 3.15)
Bought to Close SPY Mar 21 2025 530.0 Put @ 1.88 (sold for 4.00)
Bought to Close SPY Mar 21 2025 540.0 Put @ 2.36 (sold for 5.00)

A move like we’ve had this week gotta take some profits. I’ll wait for earnings to maybe re-enter.

Bought to Close NVDA Feb 14 2025 120.0 Put @ .82 (sold for 2.15)
Bought to Close NVDA Feb 14 2025 125.0 Put @ 1.46 (Sold for 2.12)
Bought to Close NVDA Mar 21 2025 110.0 Put @ 1.76 (sold for 2.44)

Lottery ticket centered on the upper edge of the expected move.

Bought Jan 17 SPX 5930/5945/5960 Call Butterfly @ .65

EDIT:

Added 5715/5700/5685 Put Butterfly @ .40 Lower edge of expected move.

Weird. Feels like it’s already been a fairly wild week but the white line is where we closed last Friday.

Hedge against the hedge that’s sold against my hedge. (I think)

Sold SPX Jan 31 2025 5995/6000 Bear Call Spreads @ 1.20

Here we go. Approaching Oct 2023 lows and lifetime lows on this thing going all the way back to 2004. Divvy is higher than a money market account now. Getting long with defined risk.

Sold a starter position:

Sold TLT Mar 21 2025 85.0 Puts @ 2.17

Bought twice my max projected long size:

Bought to Open TLT Jan 16 2026 55.0 Puts @ .10

So if we default on the debt and TLT goes to zero I’ll actually make a lot more. LOL

Cashing in the hedge. Still long a bunch of VIX for Feb.

Bought to Close Feb monthly 6175/6185 Bear Call Spread
Sold to Close Feb monthly 5600/5550 Bear Put Spread

Net credit of 7.25 (bought for 4.25)

Adding.

Sold SPY Mar 21 2025 510.0 Put @ 3.00

Just for a little something to play with now that I’m not splashing around in the Boeing pool anymore. Small add before earnings.

Sold NVDA Feb 14 2025 120.0 Put @ 2.15

Adding.

Sold SPY Mar 21 2025 520.0 Put @ 3.15

Adding another little Feb hedge. Will continue selling SPY puts on drops. If they take some heat the hedges should pay. This position is geared towards a drop to the 200 day.

Sold Feb monthly 6175/6185 Bear Call Spread
Bought Feb monthly 5600/5550 Bear Put Spread

Net debit of 4.25

Weekly candle and expected moves. Almost touched both sides in 3 days. Don’t think I’ve ever closed SPY puts and re-sold SPY puts in such a short time. 🙂 🙂

Tried doing the single candle screenshot but picture was waaaaay too big and blurry.

Adding at or below the expected move and below all the moving averages and approaching the Aug lows.

Sold SPY Mar 21 2025 530.0 Put @ 4.00
Sold SPY Mar 21 2025 540.0 Put @ 5.00

Hanging on by a thread at the 200 day. Taking these off for beer money.

Bought to Close BA Jan 17 2025 165.0 Put @ 1.58 (sold for 2.30)
Bought to Close BA Jan 17 2025 167.5 Puts @ 2.30 (sold for 2.47)
Bought to Close BA Jan 17 2025 167.5 Put @ 2.35 (sold for 2.75)

Add ten points lower. Next order is 540 strike at 3.00.

Sold SPY Feb 21 2025 550.0 Put @ 3.00

Here we go again. Starter at the 200 day.

Sold SPY Feb 21 2025 560.0 Put @ 3.35

A couple small ones. One before earnings and one after.

Sold NVDA Feb 14 2025 125.0 Put @ 2.12
Sold NVDA Mar 21 2025 110.0 Put @ 2.44