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

A move like today might as well take them all off even though these aren’t quite to 50 percent of max. My earliest sales and highest risk so closing anyway.

Bought to Close SPY Jan 17 2025 590.0 Put @ 2.22 (sold for 4.00)
Bought to Close SPY Jan 24 2025 580.0 Put @ 1.67 (sold for 3.25)
Bought to Close SPY Jan 31 2025 575.0 Put @ 2.07 (sold for 3.50)
Bought to Close SPY Feb 07 2025 565.0 Put @ 1.83 (sold for 3.00)

Taking 50 percent of max or better in just a couple weeks.

Bought to Close SPY Jan 17 2025 580.0 Put @ 1.04 (sold for 3.05)
Bought to Close SPY Jan 17 2025 585.0 Put @ 1.59 (sold for 3.70)
Bought to Close SPY Jan 31 2025 565.0 Put @ 1.34 (sold for 3.38)
Bought to Close SPY Feb 21 2025 520.0 Put @ .85 (sold for 3.10)
Bought to Close SPY Feb 21 2025 530.0 Put @ 1.05 (sold for 3.00)
Bought to Close SPY Feb 21 2025 540.0 Put @ 1.33 (sold for 3.10)
Bought to Close SPY Feb 21 2025 550.0 Put @ 1.76 (sold for 4.05)
Bought to Close SPY Feb 21 2025 550.0 Put @ 1.78 (sold for 3.03)

Rolling up my long puts that I sell against for buying power help when the Feb crap show comes. LOL

Rolled SPY Mar 21 2025 200 Puts to Mar 21 2025 250 Puts @ .04 debit

Follow up on Iceman’s chart. Tried and failed to get through the 50 day (red line) four times now. White lines are the expected move for next week. The horizontal blue line in Iceman’s chart is definitely the one to watch just outside the lower edge of the expected move. Just for clarity the thin light blue line on mine is where my daily SPX put sales currently sit and the thicker light blue line is the highest strike I’ve sold since starting the SPX strategy.

Not really comfortable with this one so taking small gains.

Bought to Close TLT Jan 17 2025 87.5 Put @ .85 (sold for 1.20)
Bought to Close TLT Jan 17 2025 88.0 Put @ 1.11 (sold for 1.42)

Taking the gain on the big bounce today.

Bought to Close NVDA Jan 31 2025 120.0 Puts @ .77 (sold for 2.33)

Using the bounce today to get a decent roll down and out a couple more weeks.

EDIT: Forgot to add the strikes I rolled to. LOL

Rolled SPX Jan 17 2025 6030.0 Puts to Jan 31 2025 6010.0 Puts @ 1.50 credit (38.50 total now)
Rolled SPX Jan 17 2025 6030.0 Put to Jan 31 2025 6010.0 Put @ 1.40 credit (35.40 total now)

Just one contract so I’ll play with it. All of this is before earnings. Setting up an inverted Jade Lizard.

Rolled ADBE Jan 17 2025 435.0 Put to Feb 21 2025 420.0 Put @ .50 debit (3.70 total now)
Sold ADBE Feb 21 2025 410/420 Bear Call Spread @ 6.40

No upside risk but very little profit. Downside breakeven now 409.90 and can roll this into earnings if needed to get everything lower.

Taking my highest strikes off.

Bought to Close BA Jan 17 2025 170.0 Put @ 3.30 (sold for 3.75)
Bought to Close BA Jan 17 2025 172.5 Put @ 4.30 (sold for 5.00)

Add one to the ladder.

Sold BA Jan 17 2025 165.0 Put @ 2.30

Add at the 200 day.

Sold SPY Feb 21 2025 550.0 Put @ 4.05

Small adds.

Sold BA Jan 17 2025 167.5 Put @ 2.75
Sold BA Jan 17 2025 170.0 Put @ 3.75
Sold BA Jan 17 2025 172.5 Put @ 5.00

Stole Jeff’s idea just for fun. Interesting.

Bought to Open SPX Dec 27 2024 6000.0 Call @ .50
Sold to Close SPX Dec 27 2024 6000.0 Call @ .85

Taking a shot a couple weeks before earnings and down at the 200 day.

Sold NVDA Jan 31 2025 120.0 Puts @ 2.33

Adding.

Sold SPY Feb 07 2025 565.0 Put @ 3.00

And:

Sold SPY Jan 31 2025 565.0 Put @ 3.38

Adding a little more. Kind of a lottery ticket hedge.

Bought to Open VIX Feb 19 2025 25/35 Bull Call Spreads @ .41 debit

Had a great year in this. Dipping a toe in for maybe a gradual re-load.

Sold TLT Jan 17 2025 87.5 Put @ 1.20
Sold TLT Jan 17 2025 88.0 Put @ 1.42

Just to stay involved. Selling a week or two before earnings.

Sold BA Jan 17 2025 167.5 Puts @ 2.47

Sold puts against synthetic short stock. Got caught in the volatility collapse around the election. Instead of chasing these down all year I’m rolling them out to the synthetic short expiration. Capping my gains but should be able to close earlier at some point for good gains. Below 35 at expiration makes max profit.

Rolled VXX Feb 21 2025 47.0 Puts to Jan 16 2026 35.0 Puts @ 1.50 credit (2.30 total now)

Synthetic position is Jan 2026 55/55/85 @ 10.00 basis

Got into most of these at 16 or 17 dollar debits each. Gradually added while reducing basis selling the weekly puts. Got that down around the 10 area so not bad. Max profit about 10 dollars. If I can get 5 or 6 and close early that will be the goal.

Rolling out and down on the bounce.

Rolled SPX Dec 27 2024 6060.0 Puts to Jan 17 2025 6030.0 Puts @ 10.50 credit (37.00 total now)
Rolled SPX Dec 27 2024 6065.0 Put to Jan 17 2025 6030.0 Put @ 6.00 credit (34.00 total now)

15 bagger in four hours. Thanks Whiz!!

Feb monthly:

Bought to Close 6300/6310 Bear Call Spreads
Sold to Close 5800/5775 Bear Put Spreads

Net credit of 5.00 (bought for .30 debit)

Just going out a week now and see how things go.

Rolled SPX Dec 17 2024 6070.0 Put to Dec 27 2024 6065.0 Put @ even (28.00 total now)
Rolled SPX Dec 17 2024 6065.0 Puts to Dec 27 2024 6060.0 Puts @ 1.00 credit (26.50 total now)

Adding. Editing as more get filled.

Sold SPY Jan 17 2025 590.0 Put @ 4.00 (50 day)
Sold SPY Jan 24 2025 580.0 Put @ 3.25 (just above 100 day)
Sold SPY Jan 31 2025 575.0 Put @ 3.50 (100 day)
Sold SPY Feb 21 2025 550.0 Put @ 3.03 (200 day)
Sold SPY Feb 21 2025 540.0 Put @ 3.10 (just below 200 day)
Sold SPY Feb 21 2025 530.0 Put @ 3.00 (below 200 day)
Sold SPY Feb 21 2025 520.0 Put @ 3.10 (below 200 day)

Throwing another hedge out there since they’re cheap.

Bought to Open VIX Feb 19 2025 20/30 Bull Call Spreads @ .85 debit

Whiz trade for possible Feb sh*t show.

Feb monthly expiration

Sold 6300/6310 Bear Call Spreads
Bought 5800/5775 Bear Put Spreads

Net debit of .30

Splitting these up. Staying more aggressive with the one that has higher LEAPS.

Rolled SPX Dec 17 2024 6070.0 Put to Dec 18 2024 6070.0 Put @ 9.00 credit (28.00 total now)
Rolled SPX Dec 17 2024 6070.0 Puts to Dec 18 2024 6065.0 Puts @ 6.00 credit (25.50 total now)

Couldn’t resist. Selling at the expected move and near recent lows.

Sold ADBE Jan 17 2025 435.0 Put @ 4.20

With VIX down here this is about all you can hope for in a one day roll. Wed gets a little better with JP coming out to say hello.

Rolled SPX Dec 16 2024 6070.0 Puts to Dec 17 2024 6070.0 Puts @ 6.00 credit (19.50 total now)

Quick summary.

Out of SNOW synthetic long and XLU synthetic short. Losses on both took about 30 percent of my BA gains but really simplifies everything. End of year house cleaning with ultimate goal of nothing but SPX, SPY, and VXX positions.

Happily out after riding it all the way down and being aggressive on the way up.

Closed BA Dec 18 2026 175/175/100 Synthetic Stock @ 18.00 credit (basis 6.15 debit)

Bought to Close BA Jan 24 2025 165.0 Calls @ 14.20 (sold for 2.35)

Gain on synthetic and loss on call sales is a wash.

Money made here:

Bought to Close BA Dec 20 2024 160.0 Puts @ .17 (sold for 8.65)
Bought to Close BA Dec 20 2024 160.0 Puts @ .17 (sold for 10.80)

Keep going sideways until I have to roll down.

Rolled SPX Dec 13 2024 6070.0 Puts to Dec 16 2024 6070.0 Puts @ 2.90 credit (13.50 total now)

Rolled SPX Dec 12 2024 6070.0 Puts to Dec 13 2024 6070.0 Puts @ 6.00 credit (10.60 toal now)

Gotta love it. Six straight days of chopping around the 6070 level. Let’s do it for six more months! LOL

Bought to Close SPX Dec 11 2024 6070.0 Puts @ .35 (sold for 30.60)

Sold SPX Dec 12 2024 6070.0 Puts @ 4.60

Been gradually adding to my lottery ticket. Enter at your own risk!

Owned a bunch at 1.70 forever. Added a little more at 2.00. Will buy dips below 2.00 until reaching my limit. Could go to zero or 10.

I remember Bitcoin at 20 and thought it had no chance. I’m still not a believer but want to be involved with defined risk if we get another run on a cheap one.

Starting a new ladder at the 50 day and lower.

Sold SPY Jan 17 2025 580.0 Put @ 3.05
Sold SPY Jan 17 2025 585.0 Put @ 3.70

Rolling short calls again out to the week before earnings. Still short a bunch of Dec 20 160 strike puts.

Rolled BA Jan 10 2025 160.0 Calls to Jan 24 2025 165.0 Calls @ 1.10 debit (2.35 total now)

Keep rolling sideways as long as the premium is still there.

Rolled SPX Dec 10 2024 6070.0 Puts to Dec 11 2024 6070.0 Puts @ 6.50 credit (30.75 total now)

Rolled SPX Dec 09 2024 6070.0 Puts to Dec 10 2024 6070.0 Puts @ 6.00 credit (24.15 total now)

Staying a little inside the expected move until something changes.

Rolled SPX Dec 06 2024 6065.0 Puts to Dec 09 2024 6070.0 Puts @ 5.50 credit (18.15 total now)

Rolling the rest of the short puts up. 160 short calls need all the help they can get.

Rolled BA Dec 20 2024 155.0 Puts to Dec 20 2024 160.0 Puts @ 2.40 credit (8.65 total now)

Not a lot of premium left today so rolling early.

Rolled SPX Dec 05 2024 6055.0 Puts to Dec 06 2024 6065.0 Puts 7.25 credit (12.65 total now)

Been getting a lot of requests so hopefully this explains things. My first try at something like this.

Critiques or corrections requested. Don’t want to redo anything though. LOL

Another round. Selling tomorrow just inside the expected move.

Bought to Close SPX Dec 04 2024 6035.0 Puts @ .40 (sold for 6.65)

Sold SPX Dec 05 2024 6055.0 Puts @ 5.40

Staying aggressive. IV picks up a little on Thur and Fri in case a roll is needed.

Bought to Close SPX Dec 03 2024 6025.0 Puts @ .35 (sold for 5.00)
Bought to Close SPX Dec 03 2024 6030.0 Put @ .55 (sold for 5.50)

Sold SPX Dec 04 2024 6035.0 Puts @ 6.65

Bought to Close SPX Dec 02 2024 6015.0 Puts @ .35 (sold for 22.95)
Bought to Close SPX Dec 02 2024 6020.0 Put @ .40 (sold for 26.35)

Sold SPX Dec 03 2024 6025.0 Puts @ 5.00
Sold SPX Dec 03 2024 6030.0 Put @ 5.50

A couple adjustments this morning.

Rolled BA Dec 20 2024 155.0 Calls to Jan 10 2025 160.0 Calls @ .05 debit (3.45 total now)

Rolled SPX Dec 02 2024 6005.0 Puts to Dec 02 2024 6015.0 Puts @ 2.00 credit (22.95 total now)
Rolled SPX Dec 02 2024 6010.0 Put to Dec 02 2024 6020.0 Put @ 2.40 credit (26.35 total now)

Taking these out to Monday in case I get busy Friday.

Rolled SPX Nov 27 2024 6005.0 Puts to Dec 02 2024 6005.0 Puts @ 10.50 credit (20.95 total now)
Rolled SPX Nov 27 2024 6010.0 Put to Dec 02 2024 6010.0 Puts @ 9.00 credit (23.90 total now)

Filled on the little dip.

Bought to Close SPX Nov 26 2024 6000.0 Puts @ 1.95 (sold for 43.85)

Sold SPX Nov 27 2024 6005.0 Puts @ 10.45

Adding another synthetic short position in a different account.

SPX Dec 2029 6000/6000/6400 @ 305.0 debit

And:

Sold SPX Nov 27 2024 6010.0 Put @ 14.90

Taking around 50 to 60 percent of max in 10 days.

Bought to Close SPY Dec 20 2024 560.0 Put @ 1.24 (sold for 3.43)
Bought to Close SPY Dec 20 2024 565.0 Put @ 1.48 (sold for 3.35)

Bought to Close SPY Jan 17 2025 540.0 Put @ 1.84 (sold for 3.42)
Bought to Close SPY Jan 17 2025 550.0 Put @ 2.32 (sold for 4.36)

Hoping for a long drawn out battle for 6000 for the next month or two. LOL

Rolled SPX Nov 25 2024 5995.0 Puts to Nov 26 2024 6000.0 Puts @ 10.25 credit (43.85 total now)

Rolled BA Dec 20 2024 155.0 Puts to Dec 20 2024 160.0 Puts @ 3.50 credit (10.80 total now)

Rolled SPX Nov 22 2024 6000.0 Puts to Nov 25 2024 5995.0 Puts @ 1.00 credit (33.60 total now)

Out for a week for a wedding but back now!

Bought to Close SNOW Nov 22 2024 125.0 Puts @ .05 (sold for 4.50)

Driving all day but stopped for a roll.

Rolled SPX Nov 14 2024 6000.0 Puts to Nov 15 2024 6000.0 Puts @ 1.75 credit (32.15 total now)

Rolled SPX Nov 13 2024 6000.0 Puts to Nov 14 2024 6000.0 Puts @ 8.00 credit (30.40 total now)

This might slow down the craziness. LOL

Rolled SPX Nov 12 2024 5975.0 Puts to Nov 13 2024 6000.0 Puts @ 17.00 credit (22.40 total now)

Synthetic long stock battling to get back to even.

Bought to Close BA Nov 15 2024 165.0 Calls @ .09 (sold for 1.93)
Sold BA Dec 20 2024 165.0 Calls @ 2.21

LEAPS position was 175/175/135 synthetic long with disaster puts. Rolling down the disaster puts for more credit.

Rolled BA Dec 18 2026 135.0 Puts to Dec 18 2026 100.0 Puts @ 9.70 credit

Rally finally losing a little steam. I wouldn’t mind sideways for awhile.

Bought to Close SPX Nov 11 2024 5945.0 Puts @ .35 (sold for 12.75)

Sold SPX Nov 12 2024 5975.0 Puts @ 5.40

Rolled right at the open to start capturing the weekend premium.

Rolled SPX Nov 08 2024 5925.0 Puts to Nov 11 2024 5945.0 Puts @ 5.75 credit (12.75 total now)

Sold againt synthetic short stock.

Rolled VXX Nov 08 2024 54.0 Puts to Dec 20 2024 51.0 Puts @ .75 debit (1.45 toal now)

Small roll up for additional credit.

Rolled BA Nov 15 2024 150.0 Puts to Nov 15 2024 152.5 Puts @ 1.15 credit (3.85 total now)