Sold 2 SPX and 1 XSP for 150 points below futures price and 2 SPX for 140 points above futures price. Maybe now the premiums match the risk.
Looks like another high-theta day. Let’s see where it’s headed.
13/11/2025
Sold 2 SPX and 1 XSP for 90 points below futures price and 2 SPX for 120 points above futures price.
Put strike was breached, now to see how to minimize the loss.
Aftermath: made a good call on exiting, would have been worse in assignment. Sold another put to take advantage of elevated premiums and recovered some of the damage. Tomorrow’s premiums look juicy after today’s 1.65% drop.
Rolling would’ve been a bad idea, even besides IBKR’s overnight exposure fee. Rolling into tomorrow would’ve still been ITM, and rolling to Monday is not enough OTM (and result in 4 nights of exposure).
Overall, I lost all gains since the previous loss, but nothing further. Looks like a choppy road ahead, which is time to collect good premiums. Looks like fear will rule the market for a while.
12/11/2025
Sold 2 SPX and 1 XSP for 75 points below futures price and 2 SPX for 105 points above futures price. Now that’s a scary day to write options.
11/11/2025
Sold 2 SPX and 1 XSP for 95 points below futures price and 2 SPX for 115 points above futures price.
10/11/2025
Sold 2 SPX and 1 XSP for 100 points below futures price and 2 SPX for 100 points above futures price.
7/11/2025
Sold 2 SPX for 125 points below futures price and 2 SPX for 195 points above futures price.
6/11/2025
Sold 2 SPX for 108 points below futures price and 122 points above futures price. Using calls allows to push the put strikes a bit further.
5/11/2025
Sold 2 SPX for 130 points below futures price. Also Sold 2 SPX for 125 points above futures price (yes, calls, with very low delta). Apparently, IBKR treats them as almost covered, so they have no margin impact.
4/11/2025
Sold 1 SPX and 9 XSP for 135 points below futures price. Added some external capital to get more options and increase income.
3/11/2025
Sold 1 SPX and 8 XSP for 100 points below futures price. There was a problem with XSP pricing, so I had to get them for almost half the premium I wanted (but with a 110 point advantage).