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2022 SPX put credit spreads trading review – week 17

Our SPX PCS strategy finished up by 1.71% while SPX lost -3.27%. Last week was a horrible week. As pundits and media say, it was the worst week since 2008. There seems to be no end to selling pressure. Our account performed well but I do not feel happy about it because it was very stressful trading. I opened two new trades but other than that I was mostly in a defense mode protecting and rolling the trades.

Our overall SPX account is up +180.61% since the beginning of this program, and we have -$105 in unrealized losses.
 

If the market stays sideways in this wide sideways range, I will be trading Friday’s trades only. If we break below the critical support, I might be trading call side or skip trading at all until the market calms down.
 

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 & 40 delta 10 wide Put Credit Spread
TUESDAY 30 DTE & 40 delta 10 wide Put Credit Spread
WEDNESDAY 7 DTE & 40 delta 10 wide Put Credit Spread
FRIDAY 60 DTE & 14 delta 10 wide Put Credit Spread
EVERY MONTH 120 DTE Put Debit Spread – HEDGE

 

Last week trading

 

Overall, the strategy resulted in a $170.00 gain last week.
 

Initial account value (since inception: 12/07/2021): $3,600.00
Last week beginning value: $9,931.95
Last week ending value: $10,101.95 (+1.71%; total: +180.61%)
The highest capital requirements to trade this strategy: $19,190
Current capital at risk: $18,105
Unrealized Gain: -$105 (-0.58%)
Realized Gain: $6,492 (+35.86%)
Total Gain: $6,387 (+35.28%)
Win Ratio: 69%
Average Winner: $213
Average Loser: $259

 

SPX PCS account value
SPX PCS account value
 
Our SPX net-liq increased slightly last week creating a new all-time high. But the market is volatile too much and our trading activity will be adjusting our existing trades, and opening Friday’s trades, only. We will evaluate case by case which trade to take.
 

SPX PCS account vs SPX
SPX PCS account vs SPX index net liq
 
However, it is nice to see that our account is growing while the market is struggling, going sideways or down. Although I must admit, trading in this year’s environment is very frustrating.

 

SPX PCS account vs SPX
SPX PCS account vs SPX index
 

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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