Rarely trade individual companies any more but this looked fun. Playing for a bounce. If no bounce then lower the better for stock assingment. No matter how low it goes I’ll get assignment at 6 dollars above where it’s trading by closing the long put at the last second.

Sold AMZN Sep 19 2025 230/215 Bull Put Spread @ 9.00

Wild morning. I’ll be out all next week (Sturgis baby!!) so taking everything out to at least the 11th.

SPX hedge:

Almost a double in a day.

Sold to Close SPX Sep 19 2025 6000/5950 Bear Put Spreads @ 8.10 (bought for 4.30)

SPX Put sales against LEAPS:

Since I left two LEAPS uncovered going out to Aug monthly and down by the 200 day.

Sold SPX Aug 15 2025 5800.0 Put @ 10.30
Sold SPX Aug 15 2025 5900.0 Put @ 20.00

Rolling the rest and adjusting to same strike.

Rolled SPX Aug 01 2025 6350.0 Puts to Aug 11 2025 6350.0 Puts @ 15.00 credit (61.90 total now)
Rolled SPX Aug 01 2025 6360.0 Puts to Aug 11 2025 6350.0 Puts @ 4.00 credit (52.20 total now)

Rolled SPX Aug 01 2025 6410.0 Put to Sep 19 2025 6375.0 Put @ 14.00 credit (49.50 total now)

SPY:

Here we go again. Out to the 200 day and lower.

Sold SPY Sep 19 2025 580.0 Put @ 5.12
Sold SPY Sep 19 2025 590.0 Put @ 6.42

Forgot I didn’t have these for margin reduction:

Bought to Open SPY Sep 19 2025 300.0 Puts @ .11

Down to the wire today.

Rolled SPX Jul 31 2025 6350.0 Puts to Aug 01 2025 6350.0 Puts @ 18.00 credit (46.90 total now)
Rolled SPX Jul 31 2025 6360.0 Puts to Aug 01 2025 6360.0 Puts @ 17.00 credit (48.20 total now)

Just throwing this out there for a little extra kicker if we get a little selloff. Also lets me get slightly more aggressive on daily put sales.

Bought SPX Sep 19 2025 6000/5950 Bear Put Spreads @ 4.30

Rolling on the bounce. Holding the rest for now.

Rolled SPX Jul 31 2025 6425.0 Put to Aug 01 2025 6410.0 Put @ 2.50 credit (35.50 total now)

More high IV tomorrow.

Rolled SPX Jul 30 2025 6350.0 Puts to Jul 31 2025 6350.0 Puts @ 17.00 credit (28.90 total now)
Rolled SPX Jul 30 2025 6360.0 Puts to Jul 31 2025 6360.0 Puts @ 15.50 credit (31.20 total now)

Rolled SPX Jul 30 2025 6425.0 Put to Jul 31 2025 6425.0 Put @ 2.00 credit (33.0 total now)

Recording most of these as rolls since I’m splitting some positions up and selling one in the money. Really a perfect day. Market down slightly but still above all my short strikes with increasing IV tomorrow.

Bought to Close SPX Jul 29 2025 6350.0 Put @ .20 (sold for 3.40)

Rolled SPX Jul 29 2025 6350.0 Puts to Jul 30 2025 6350.0 Puts @ 8.50 credit (11.90 total now)
Rolled SPX Jul 29 2025 6360.0 Puts to Jul 30 2025 6360.0 Puts @ 11.25 credit (15.70 total now)

This might put a lid on some of this nonsense. 🙂 🙂

Sold SPX Jul 30 2025 6425.0 Put @ 31.00 (sold too early!)

Finally a few minutes to catch up on things.

Once in awhile I’ll play a game called “Close All SPX…what if?” 🙂 🙂 I’ll use mid prices from TOS since they are the most accurate and calculate where this big experiment stands if I were to shut it down right now. With the big rally I’m definitely wondering where I stand since I’m holding LEAP short positions and selling daily puts against them.

Started this in Feb 2024 with one position and have gradually added size up to almost my full position. Goal is 10 total and sitting at 8 now but only selling against 6. Keeping 2 uncovered for downside hedging. Learned my lesson on that in April. Was about to uncover a couple of them but got caught in the selloff before I could. Was stuck for a few months again with no put selling and just waiting.

Here goes the quick summary in SPX points:

Losses on LEAPS: 348.85
Total premium received: 1973.25
Net gain: 1624.40

That’s 82 cents on each dollar becoming profit. Better than the 75 cents I was hoping for.

Lessons learned (so far)

1. Crazy up market not helping but great profits still possible.
2. A flat unchanged day profits go straight to the bottom line (yay!)
3. Not leaving a couple LEAPS uncovered was a big mistake. Could have really taken advantage of the giant VIX spike if I had any puts to sell.
4. Leaving a couple uncovered and giving up short term gains would be well worth it.
5. Continue monitoring margin requirements watching the distance between the put sold and the long LEAP put it’s sold against. Don’t be afraid to roll up the LEAPS if this gap becomes too wide.
6. Once I reach max position size the sky’s the limit.

I still look at this like owning rental property. Not all rent income is profit. You sometimes have to do some maintenance (roll up LEAPS) and sometimes you will have vacant units that bring nothing in temporarily (massive selloff with SPX backwardation). But overall everything turns a nice profit over time.

Premiums get a little juicier Wed Thu Fri. Just taking what I can get tomorrow.

Bought to Close SPX Jul 28 2025 6310.0 Puts @ .30 (sold for 6.30)
Bought to Close SPX Jul 28 2025 6330.0 Puts @ .45 (sold for 9.00)

Sold SPX Jul 29 2025 6350.0 Puts @ 3.40
Sold SPX Jul 29 2025 6360.0 Puts @ 4.45

Out tomorrow so going out to Monday.

Bought to Close SPX Jul 24 2025 6300.0 Puts @ .30 (sold for 3.50)
Bought to Close SPX Jul 24 2025 6325.0 Puts @ .50 (sold for 7.20)

Sold SPX Jul 28 2025 6310.0 Puts @ 6.30
Sold SPX Jul 28 2025 6330.0 Puts @ 9.00