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2022 SPX put credit spreads trading review – week 02

We finished the second week on a down note. As the market was extremely choppy, we had to close a few trades for a loss and we skipped pretty much all trades except our Friday trade because all signals were negative. We finished the week down -10.49% while SPX lost -0.30% only. However, our account is still up 40.97% since the beginning of this program.
 

Initial trade set ups

 

For my SPX strategy, I dedicated a $3,600 initial amount that will be used to trade SPX PCS strategy per week. If this amount is depleted, I will evaluate the strategy to determine whether to continue or change it. If I grow this amount, I will scale up the trading.
 

WHAT WILL WE TRADE?    
DAY DTE TYPE
MONDAY 7 DTE Put Credit Spread
TUESDAY 30 DTE Put Credit Spread
WEDNESDAY 7 DTE Put Credit Spread
FRIDAY 60 DTE Put Credit Spread
EVERY MONTH 120 DTE Put Debit Spread – HEDGE

 

Last week trading

 

DAY SIGNAL TYPE TRADE STATUS
MONDAY Negative No new trade
TUESDAY Negative No new trade
WEDNESDAY Negative No new trade
FRIDAY Positive New 60 DTE trade opened
credit: $95
Exp: Mar18 (pm)
EVERY MONTH No new trade opened

 

On Monday, our entry signal was negative and we stayed away from the market.

On Tuesday, our entry signal was negative and we stayed away from the market.

On Wednesday, our entry signal was negative and we stayed away from the market.

On Friday, the signal for the 60 DTE trade was positive and we opened a new 60 DTE credit spread.

We didn’t open any new 120 DTE debit hedging trade this week.
 

Here are our delayed open trades:
 

SPX PCS delayed trades week 2
SPX PCS delayed trades
 

The trades are two weeks delayed. If you want to see the most recent trades or receive alerts, subscribe to our SPX alerts.
 

Overall, the strategy resulted in a -$595.00 loss last week. Note that the gain might be unrealized as some or all trades may be still open.
 

Initial account value (since inception: 12/07/2021): $3,600.00
Last week beginning value: $5,670.00
Last week ending value: $5,075.00
The highest capital requirements to trade this strategy: $8,975
Unrealized Gain: $200 (+2.94%)
Realized Gain: $1,275 (+18.75%)
Total Gain: $1,475 (+21.69%)

 

SPX PCS account value
SPX PCS account value
 
Our SPX net-liq dropped a bit last week but I expect it since the market is volatile and non-trending, well, it is trending but the trend is choppy and weak.
 

SPX PCS account vs SPX
SPX PCS account vs SPX index net liq
 
However, comparing the account with SPX net-liq, we are still outperforming the market.
 

SPX PCS account vs SPX
SPX PCS account vs SPX index
 

If the market continues being this choppy, I expect slower growth. I also plan on adding other trades to this strategy such as SPY trading. Also, the trading will be directional based on my proprietary indicators.

If you want to receive trade alerts whenever we open a new SPX put credit spread or a hedge trade, you can subscribe to our service:

 

SUBSCRIBE HERE

 

Note, if you wish to subscribe to multiple levels, you can do so by subscribing to one level only and then send us an email that you want to be added to other levels too.

Also, if you like this report, hit the like button so I know there is enough audience wanting to see this type of report. If you have any questions or want to see anything else about my SPX trading, do not hesitate to contact me or write a comment in the comments section. Thank you!

 
 





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