Bought to Close AMZN May 16 2025 180.0 Put @ .45 (sold for 3.25)

Rolled VXX May 09 2025 60.0 Puts to VXX May 16 2025 60.0 Puts @ 1.40 credit (2.00 and 2.20 total now)

Sold SPY May 12 2025 557.0 Puts @ 1.10

Replaces these which should expire:

SPY May 09 2025 555.0 Puts (sold for 3.25)

Maybe the beginning of a June ladder…see how it goes.

Sold SPY Jun 20 2025 525.0 Put @ 6.25

Be out most of the week so throwing these out to Friday.

Sold SPY May 09 2025 555.0 Puts @ 3.25

A move like this gotta take the whole ladder. Running up to the 200 day resistance.

Bought to Close SPY May 16 2025 480.0 Put @ .35 (sold for 3.40)
Bought to Close SPY May 16 2025 485.0 Put @ .40 (sold for 3.80)
Bought to Close SPY May 16 2025 490.0 Put @ .40 (sold for 3.60)
Bought to Close SPY May 16 2025 495.0 Put @ .45 (sold for 3.50)
Bought to Close SPY May 16 2025 500.0 Put @ .55 (sold for 3.60)
Bought to Close SPY May 16 2025 505.0 Put @ .60 (sold for 3.20)
Bought to Close SPY May 16 2025 510.0 Put @ .70 (sold for 3.40)
Bought to Close SPY May 16 2025 515.0 Put @ .85 (sold for 3.50)
Bought to Close SPY May 16 2025 520.0 Put @ 1.05 (sold for 4.10)
Bought to Close SPY May 16 2025 525.0 Put @ 1.25 (sold for 3.40)
Bought to Close SPY May 16 2025 530.0 Put @ 1.60 (sold for 3.50)
Bought to Close SPY May 16 2025 535.0 Put @ 2.00 (sold for 8.90)
Bought to Close SPY May 16 2025 540.0 Put @ 2.60 (sold for 7.70)
Bought to Close SPY May 16 2025 545.0 Put @ 3.35 (sold for 6.95)
Bought to Close SPY May 16 2025 550.0 Puts @ 4.30 (sold for 6.20)
Bought to Close SPY May 16 2025 555.0 Put @ 5.40 (sold for 7.80)
Bought to Close SPY May 16 2025 560.0 Put @ 6.95 (sold for 14.50)

Rolled SPY Apr 29 2025 521.0 Calls to May 16 2025 526.0 Calls @ .35 credit (2.85 total now)

Unless something crazy (er) happens this should be it for the week. Out a few days and up a couple strikes.

Rolled SPY Apr 23 2025 519.0 Calls to Apr 29 2025 521.0 Calls @ .25 credit (2.55 total now)

Closing on the big bounce. Decided I’d rather add more SPY if we implode again.

Bought to Close XBI May 16 2025 75.0 Put @ 1.10 (sold for 1.46)
Bought to Close XBI May 16 2025 80.0 Put @ 2.60 (sold for 3.20)

Some beer money for race weekend. Dega baby!

🙂 🙂 🙂

Been selling puts against a Jan synthetic short position. During the big rally they got run over so rolled them out and down to Jan. The volatility coming back has allowed me to roll these back in and up to resume selling.

Bought to Close VXX Apr 25 2025 60.0 Puts @ .02 (sold for 1.00)

Sold VXX May 02 2025 62.0 Puts @ .56

Rolled SPY Apr 22 2025 518.0 Calls to Apr 23 2025 519.0 Calls @ .40 credit (2.30 total now)

Expired:

SPY Apr 21 519.0 Call (sold for 10.15)
SPY Apr 21 525.0 Call (sold for 13.10)

Adding to synthetic long.

Bought to Open SPY Dec 17 2027 450/525/525 Synthetic Stock @ 59.00 debit (450 strike long disaster put)

And:

Sold SPY Apr 22 2025 518.0 Call @ 1.90

Rolled SPY Apr 17 2025 518.0 Call to Apr 21 2025 519.0 Call @ .20 credit (10.20 total now)
Rolled SPY Apr 17 2025 525.0 Call to Apr 21 2025 525.0 Call @ 2.15 credit (13.15 total now)

On the road all day but did get some rolls done. Throw it out there and wait for things to calm down. Sold against a long LEAP put in Dec 2029.

Rolled SPX Apr 17 2025 5975.0 Put to Oct 17 2025 5975.0 Put @ 13.75 debit (49.35 total now)

Adding.

Sold SPX May 16 2025 5700/5705 Bear Call Spreads @ 1.40

Sold against synthetic longs. Straight roll to Thursday.

Rolled SPY Apr 15 2025 518.0 Call to Apr 17 2025 518.0 Call @ 1.25 credit (10.00 total now)
Rolled SPY Apr 15 2025 525.0 Call to Apr 17 2025 525.0 Call @ 1.75 credit (11.00 total now)

Sold against synthetic longs. Straight roll to tomorrow.

Rolled SPY Apr 14 2025 518.0 Call to Apr 15 2025 518.0 Call @ 1.05 credit (8.75 total now)
Rolled SPY Apr 14 2025 525.0 Call to Apr 15 2025 525.0 Call @ 1.75 credit (9.25 total now)

Adding to synthetic long. Call premiums are crazy for selling daily.

Bought to Open SPY Dec 17 2027 450/525/525 Synthetic Stock @ 65.50 debit (450 strike long disaster put)

And:

Sold SPY Apr 14 2025 525.0 Call @ 7.50

Rolled SPY Apr 11 2025 515.0 Call to Apr 14 2025 518.0 Call @ 1.20 credit (7.75 total now)

Come and get ’em!

Sold SPX May 16 2025 5700/5705 Bear Call Spreads @ 1.50

Out on the road so stopping when I can to check in.

Rolled SPY Apr 09 2025 513.0 Call to Apr 11 2025 515.0 Call @ .50 credit (6.55 total now)

Rolled SPY Apr 08 2025 510.0 Call to Apr 09 2025 513.0 Call @ .05 credit (6.05 total now)

Pretty low risk and not a bad price with the high IV. New synthetic long SPY starter position.

Bought to Open SPY Dec 17 2027 450/500/500 Synthetic Stock @ 65.0 debit (450 strike long disaster put)

and:

Sold SPY Apr 08 2025 510.0 Call @ 6.00

This was from my latest experiment. Buying a DITM LEAP put and selling daily against it. Rolling the long LEAP down for credit now. Short next week’s 5975 against it. Not sure how I’ll handle that yet. Probably a debit roll to somewhere.

Rolled SPX Dec 21 2029 7000.0 Put to Dec 21 2029 6000.0 Put @ 500.0 credit (reduces total debit to 385.0)

Rolling rest of April out but not down. Still decent basis reduction.

Rolled SPY Apr 17 2025 535.0 Put to May 16 2025 535.0 Put @ 5.75 credit (8.90 total now)
Rolled SPY Apr 17 2025 540.0 Put to May 16 2025 540.0 Put @ 4.25 credit (7.70 total now)
Rolled SPY Apr 17 2025 545.0 Put to May 16 2025 545.0 Put @ 3.25 credit (6.90 total now)
Rolled SPY Apr 17 2025 550.0 Put to May 16 2025 550.0 Put @ 3.00 credit (6.20 total now)
Rolled SPY Apr 17 2025 555.0 Put to May 16 2025 555.0 Put @ 2.75 credit (7.80 total now)
Rolled SPY Apr 17 2025 560.0 Put to May 16 2025 560.0 Put @ 2.50 credit (14.50 total now)

Bought to Close SPX Apr 17 2025 5900/5905 Bear Call Spreads @ .05 (sold for 1.25)

Adding.

Sold SPY May 16 2025 485.0 Put @ 3.80
Sold SPY May 16 2025 480.0 Put @ 3.40

Adding.

Sold SPY May 16 2025 490.0 Put @ 3.59

Selling the top of the ladder.

Sold SPY Apr 17 2025 560.0 Put @ 12.00

Starter just to watch.

Sold XBI May 16 2025 80.0 Put @ 3.20
Sold XBI May 16 2025 75.0 Put @ 1.45

Out and down.

Rolled AMZN Apr 17 2025 200.0 Put to May 16 2025 195.0 Put @ .25 credit (3.50 total now)
Rolled AMZN Apr 17 2025 195.0 Put to May 16 2025 190.0 Put @ 1.25 credit (3.75 total now)
Rolled AMZN Apr 17 2025 190.0 Put to May 16 2025 185.0 Put @ 2.00 credit (4.50 total now)

Adding.

Sold SPY May 16 2025 500.0 Put @ 3.60
Sold SPY May 16 2025 495.0 Put @ 3.50

Adding.

Sold SPY May 16 2025 520.0 Put @ 4.10
Sold SPY May 16 2025 515.0 Put @ 3.50
Sold SPY May 16 2025 510.0 Put @ 3.40
Sold SPY May 16 2025 505.0 Put @ 3.20

Rolling my highest strikes.

Rolled SPY Apr 17 2025 570.0 Put to May 16 2025 560.0 Put @ .45 credit (5.30 total now)
Rolled SPY Apr 17 2025 560.0 Put to May 16 2025 550.0 Put @ 1.25 credit (5.45 total now)

And:

Sold to Close SPY Apr 17 2025 300.0 Puts @ .01 (sold the ones I don’t need anymore)
Bought to Open SPY May 16 2025 325.0 Puts @ .12 (new batch to sell against)

Sold SPY May 16 2025 530.0 Put @ 3.52
Sold SPY May 16 2025 525.0 Put @ 3.41

Big bounce and three weeks to go. I’ll take these.

Bought to Close AMZN Apr 17 2025 180.0 Put @ .67 (sold for 3.20)
Bought to Close AMZN Apr 17 2025 185.0 Put @ 1.07 (sold for 2.71)

Changed my mind. With a big run up to the 200 day and three weeks to go and April 2nd looming I’m booking all the 70 and 80 percenters.

Bought to Close SPY Apr 17 2025 505.0 Put @ .46 (sold for 3.10)
Bought to Close SPY Apr 17 2025 510.0 Puts @ .53 (sold for 2.80)
Bought to Close SPY Apr 17 2025 515.0 Put @ .61 (sold for 3.25)
Bought to Close SPY Apr 17 2025 520.0 Put @ .72 (sold for 3.25)
Bought to Close SPY Apr 17 2025 525.0 Put @ .89 (sold for 3.25)
Bought to Close SPY Apr 17 2025 530.0 Put @ 1.08 (sold for 3.20)

Sold this as a directional type trade so I’ll go ahead and book it. Letting everything else ride.

Bought to Close SPY Apr 17 2025 560.0 Put @ 5.34 (sold for 12.50)

Added on the opening pop.

Sold SPX Apr 17 2025 5900/5905 Bear Call Spreads @ 1.25

Rollout to Jun. Up slightly to reduce the debit. I’ll keep pounding the SPY put sales and SPX bear call spreads while waiting.

Rolled SPX Mar 21 2025 6065.0 Puts to Jun 20 2025 6070.0 Puts @ 5.25 debit (18.85 total now)
Rolled SPX Mar 21 2025 6070.0 Puts to Jun 20 2025 6080.0 Puts @ 2.60 debit (18.90 total now)

Sold SPX Apr 17 2025 5900/5905 Bear Call Spreads @ 1.25

Bought to Close this Friday 5800/5805 Bear Call Spreads @ .30 (sold for 1.25)

Fat fingered the mid price. Guess I’ll hold and see what happens.

Sold to Open this Friday BuPS 5500/5495 @ .85

Sold to Open this Friday BeCS 5800/5805 @ 1.25

Adding one. Prior to earnings.

Sold AMZN Apr 17 2025 180.0 Put @ 3.20

Rolled on the opening bounce. Giving it time for the VIX curve to flatten out a little.

Rolled SPX Mar 14 2025 5975.0 Put to Apr 17 2025 5975.0 Put @ 1.00 credit (63.10 total now)

Adding at the top of the ladder.

Sold SPY Apr 17 2025 560.0 Put @ 12.50

One more.

Sold SPY Apr 17 2025 505.0 Put @ 3.15

Can’t resist…a little more.

Sold SPY Apr 17 2025 510.0 Puts @ 2.80

And

Rolled up long 260s to 300s @ .06 debit (same expiration)

Maybe a little early on these but I’ll take ’em on the bounce.

Rolled SPX Mar 07 2025 5985.0 Put to Mar 14 2025 5975.0 Put @ 2.00 credit (62.10 total now)

Rolled SPX Mar 07 2025 6090.0 Put to Apr 17 2025 6085.0 Put @ 1.00 credit (27.85 total now)

Last one. Plan was to sell the ladder as we drop all the way down to the 200 day. We fall below that then it’ll be manage what I’ve got or start taking stock.

Sold SPY Apr 17 2025 515.0 Put @ 3.25

Adding.

Sold SPY Apr 17 2025 520.0 Put @ 3.25

Adding.

Sold AMZN Apr 17 2025 185.0 Put @ 2.71

Adding.

Sold SPY Apr 17 2025 525.0 Put @ 3.25
Sold SPY Apr 17 2025 555.0 Put @ 5.05

Adding.

Sold SPY Apr 17 2025 530.0 Put @ 3.20

A few.

Rolled SPX Feb 28 2025 6000.0 Put to Mar 07 2025 5985.0 Put @ 2.00 credit (60.15 total now)

Rolled SPX Feb 28 2025 6075.0 Put to Mar 21 2025 6065.0 Put @ even (23.70 total now)
Rolled SPX Feb 28 2025 6080.0 Put to Mar 21 2025 6070.0 Put @ .50 credit (21.50 total now)

Adding.

Sold SPY Apr 17 2025 535.0 Put @ 3.15
Sold SPY Apr 17 2025 545.0 Put @ 3.65

Filled right at the open.

Rolled SPX Feb 27 2025 6000.0 Put to Feb 28 2025 6000.0 Put @ 10.65 credit (58.15 total now)

Rolled SPX Feb 28 2025 6100.0 Put to Mar 07 2025 6090.0 Put @ 2.00 credit (26.90 total now)

Rolling early in case the bounce doesn’t hold.

Rolled SPX Feb 26 2025 6000.0 Put to Feb 27 2025 6000.0 Put @ 14.50 credit (47.50 total now)

A new strategy! Had a long conversation with my brother last couple days talking about my SPX strategy. (@bikeeagle1 on here) He doesn’t trade options much but understands them very well. After explaining everything and doing a lot of “hangar flying” he came up with an alternate idea. Higher initial cost but much less if any downside risk.

Basically, it’s this. Where will the 200 day moving average be in about a year taking into account a continuation of the last couple years? The number we came up with was around 7000.

So…buy a 7000 strike put at that level. We originally looked at just a year out but decided for minimal extra cost to go out to 2029 to have some extra time just in case. Then, like my positions, sell daily against it.

This will result in quite a bit more out of pocket but, at least for now, zero risk to the downside. The goal with the daily selling is to be pretty aggressive and try to get the entire cost covered well before the market might get to 7000. With no downside risk selling daily in the money is a viable option depending on how aggressive you want to be.

I went ahead and threw one on in my real account to see how it plays out. I look at it as a nicer rental house in a nicer area with higher rents. LOL!

Bought to Open SPX Dec 21 2029 7000.0 Put @ 885.0

Sold SPX Feb 26 2025 6000.0 Put @ 33.00

Adding.

Sold AMZN Apr 17 2025 190.0 Put @ 2.50

Sold SPY Apr 17 2025 540.0 Put @ 3.45

Adding.

Sold AMZN Apr 17 2025 195.0 Put @ 2.51

Pre market roll. Guessing this is a weak bounce. (rally incoming! LOL)

Rolled SPX Feb 24 2025 6100.0 Puts to Feb 28 2025 6075.0 Puts @ 1.00 credit (20.95 total now)

At the expected move, at the 200 day, and before earnings.

Sold AMZN Apr 17 2025 200.0 Put @ 3.25

Starter down at the 200 day.

Sold SPY Apr 17 2025 570.0 Put @ 4.83
Sold SPY Apr 17 2025 560.0 Put @ 4.20
Sold SPY Apr 17 2025 550.0 Puts @ 3.19

Scattering these out a little.

Rolled SPX Feb 21 2025 6100.0 Puts to Feb 24 2025 6100.0 Puts @ 3.75 credit (19.95 total now)

Rolled SPX Feb 21 2025 6100.0 Puts to Feb 28 2025 6075.0 Puts @ 7.50 credit (23.70 total now)
Rolled SPX Feb 21 2025 6110.0 Put to Feb 28 2025 6100.0 Put @ 11.00 credit (24.90 total now)

Rolled the rest. Same strike.

Rolled SPX Feb 20 2025 6100.0 Puts to Feb 21 2025 6100.0 Puts @ 9.75 credit (16.25 total now)

Rolled on the small bounce. Everything else sitting at 6100.

Rolled SPX Feb 20 2025 6110.0 Put to Feb 21 2025 6110.0 Put @ 8.00 credit (13.90 total now)

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