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2022 SPX put credit spreads trading review – week 09

Despite the market volatility our SPX PCS and CCS strategy performed well. We were building cash income to offset the rolling of our put trades and that worked well so far. A few of our trades expired for a profit, some trades were losing ones but we generated enough income to cover those losses.

Last week, we recovered a significant portion of our previous losing weeek. Our SPX PCS strategy finished the week up by 6.01% while SPX was down -1.27%. Our overall SPX account is up +110.61% since the beginning of this program. However, unlike in previous weeks, we now have about $655 in unrealized losses. And that could give us some headwinds in the coming weeks. If however, the market will rally from now on, we will be able to offset these losses quickly.
 

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

 

Last week we were mostly managing our open trades by adding calls to the puts (converting the trades into Iron Condors) and trying to stay safe. Most of the time our effort was successful.

Here are our delayed open trades:
 

SPX PCS delayed trades week 9
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 $430.00 gain 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: $7,151.95
Last week ending value: $7,581.95 (+6.01%; total: +110.61%)
The highest capital requirements to trade this strategy: $17,700
Unrealized Gain: -$655 (-4.07%)
Realized Gain: $4,517 (+28.09%)
Total Gain: $3,862 (+24.02%)

 

SPX PCS account value
SPX PCS account value
 
Our SPX net-liq increased a bit last week. I consider it a good result 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 this horrible market.
 

SPX PCS account vs SPX
SPX PCS account vs SPX index
 

If the market continues being this choppy or even going down as fast as it has so far, I expect to use the gains to roll the trades that are in the money.

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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