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2022 SPX put credit spreads trading review – week 50

I didn’t have time to record my SPX trades last week, and when I reviewed them later, I thought last week’s trading would be a disaster. I rolled many trades for debit, and I couldn’t see any way that the last week’s trading would end up positive. I also opened two box trades to offset the costs of those rolls, but I was highly skeptical that it would help. When I finally plugged our SPX trades into my tracking spreadsheet, I was surprised to see that the trading was over $2,000 positive for the week. I was shocked. I didn’t have to open any of the box trades. All trades were overall positive despite debit rolls. So next week, I will use the collected credit to keep adjusting the trades to ensure they expire OTM.

Our trades delivered a $2,560.00 gain. But this gain is still tight up by open trades, and it may turn negative before the trades close. Our account weekly trading was up by 6.56% while SPX lost -2.09%.

Our SPX account is up +1055.22% since the beginning of this program, and we have $40,326 in unrealized gains.


Initial SPX trade set ups


I dedicated a $3,600 initial amount that will be used to trade SPX PCS strategy per week. Today, the account is up at $41,587.95. However, due to the recent bear market, many trades are still open, and the funds are tied to those open trades. The trades need to expire or be closed for a profit to release the funds.

Our SPX strategy is designed as directional options trading. We are selling credit put spreads to collect premiums, and hopefully, these spreads expire worthlessly, or we repurchase them for a small debit.

We use a set of indicators, trend prediction (primarily based on moving averages, volume profiles, and trend forecasting), and market sentiment that generates bullish signals. The trading is based on a “trend-following strategy.” We open the trade if we have a bullish signal and a bullish trend. If we do not have a signal, we stay away. We also trade credit call spreads when we have bearish signals. In a choppy market, we stay away from or trade very short expirations (usually 1 or 2 days or up to 7 days), but the trading is muted as we need a trending market.

Unfortunately, today, the market is headline sensitive and can gap in either direction to fail and reverse. It is not easy to trade and not get whipsawed. That’s why we are managing our older trades and not opening new ones until we see a clear market direction.

Here you can see all our trades:

SPX PCS account value
Click on the picture above to see the entire list.

Last week trading


Overall, the strategy resulted in a +1055.22% gain last week.

Initial account value (since inception: 12/07/2021): $3,600.00
Last week beginning value: $39,027.95
Last week ending value: $41,587.95 (+6.56%; total: +1055.22%)
The highest capital requirements to trade this strategy: $19,995
Current capital at risk: -$13,326
Unrealized Gain: $40,326 (-302.61%)
Realized Gain: -$2,853 (21.41%)
Total Gain: $37,473 (-281.20%)
Win Ratio: 57%
Average Winner: $317
Average Loser: $459

As you can see, our account currently shows a realized loss of -$2,853.00, but we have $40,326 unrealized gains.


SPX PCS account value
SPX PCS account value

SPX PCS account vs SPX
SPX PCS account vs SPX index net liq

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:




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

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 comment in the comments section. Thank you!


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