Sold 1 SPX and 8 XSP for 250 points below futures price. Very high IV, and the futures already predict a higher than 90 points drop. Going to be a wild ride today.
16/10/2025
Sold 1 SPX and 8 XSP for 125 points below futures price. Premiums and IV are still elevated. Perhaps waiting for the shutdown to end to receive a flood of economic data.
Market is dropping more than 1%. Hope the strike cushion was enough.
15/10/2025
Sold 1 SPX and 8 XSP for 110 points below futures price. Premiums are still quite high.
14/10/2025
Sold 1 SPX and 8 XSP for 240 points below futures price. Option sellers don’t want to be caught off guard like Friday.
13/10/2025
Sold 1 SPX and 9 XSP for 150 points below futures price. Trump’s words still have a large effect on IV.
Hopefully I’ll be able to resume 2 SPX soon.
Also need to re-buy after the forced liquidation on Friday.
Sacrificed one XSP (at a profit) for some buying power to buy back all liquidated positions. Missed half the gains today since I had cash.
Welcome
Welcome to Options Trader Journey. Here I will share with you my journey to financial independence with options.
I opened this blog right after the worst day I had trading options, losing about six months’ worth of profits. That was due to Trump’s tweet about China which sent the market down almost 3%.
The lesson I learned was very simple: get out on time. When everything goes well, I let the options expire. When the market goes against me, I tried rolling (worked once, then a massive loss) and going to assignment (worst day since I started). My next attempt will be closing when the market drops enoguh, reassessing, and perhaps opening more trades later. Better to lose a month’s effort than six.
Starting tomorrow, I will post my trades here. Not exact strikes and price, just a brief summary of what I did. Feel free to comment and let me know your thoughts.