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August 2023 SPX put credit spreads trading review

August 2023 SPX trading was slow. Since I trade mostly bullish trades, during bear markets or corrections I sit aside and wait. Time to time, I open a bearish trade but in corrections or during high volatility, the bearish trade may quickly turn against me and I do not want to have too many bearish trades that need my attention or rolling back into bullish trades. So this month, I was mostly on the sidelines.

I also switched to broken wing butterfly trades. These trades offer better opportunity than plain spreads. They are initially sold for credit and they have a high chance of expiring worthless while providing some downward protection. Even if the trade goes completely against us, there is a good chance to repair it for credit. If you follow our trade signals, we had a call broken wing butterfly (BWB) that got completely against us.


Our SPX account is up +1,271.58% since the beginning of this program, and we have $25,680 in unrealized gains.


Initial SPX trade set ups


I dedicated a $3,600 initial amount that will be used to trade SPX PCS (now BWB) strategy per week. Today, the account is up at $48,711.95. 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.


Here you can see all our 2023 trades:

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

Last month trading


Overall, the strategy resulted in a +1,271.58% gain last month.

Initial account value (since inception: 12/07/2021): $3,600.00
Last month beginning value: $48,711.95
Last month ending value: $49,376.95 (+1.37%; total: +1,271.58%)
The highest capital requirements to trade this strategy: $19,995
Current capital at risk: -$15,680
Unrealized Gain: $25,680 (-163.78%)
Realized Gain: $4,986 (-31.80%)
Total Gain: $30,666 (-195.57%)
Win Ratio: 54%
Average Winner: $707
Average Loser: $771

As you can see, our account currently shows a realized gain of $4,986, and we have an additional $25,680 unrealized gains.


SPX PCS account value
SPX PCS account value

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

SPX PCS account vs SPX performance
SPX PCS account vs SPX performance

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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