Daily Options Scenario #41
SPXPlay · Daily · 2026-08-21
One real SPX session from the trainer’s five-year history, dates masked. Below: the last 50 daily candles into the entry, the volatility and trend read at the close, and the four defined-risk verticals that were actually priced there (1 contract, ×100 multiplier, historical option quotes) — all expiring in 2 DTE. Pick your play, then reveal what the tape did.
This board: a tape leaning up, options still charging for trouble, though the charge is easing, 2 sessions on the clock. Form your own read before the table’s prices argue theirs.
Your five choices
| Choice | Strikes | Entry | Max profit | Max loss | Breakeven |
|---|---|---|---|---|---|
| Bull put credit spread | 3,955 / 3,930 | +$133.75 credit | $133.75 | $2,366.25 | above 3,953.7 |
| Bear call credit spread | 4,105 / 4,130 | +$170.00 credit | $170.00 | $2,330.00 | below 4,106.7 |
| Bull call debit spread | 4,025 / 4,010 | −$1,282.50 debit | $217.50 | $1,282.50 | above 4,022.8 |
| Bear put debit spread | 4,050 / 4,065 | −$1,332.50 debit | $167.50 | $1,332.50 | below 4,051.7 |
| No trade — stand aside | — | — | — | — | — |
Tap a row to lock in your play — it gets scored against the whole board.
Reveal what happened
Over the next 2 sessions SPX fell 2.27% from 4025 to settle at 3933.92. VIX went from 19.1 to 22.7. The hold low of 3918 traded through the 3955 short put strike.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | LOSS | −$1,975.55 |
| Bear call credit spread | WIN | +$168.70 |
| Bull call debit spread | LOSS | −$1,283.80 |
| Bear put debit spread | WIN | +$166.20 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit OK (+1.25): gamma regime unknown (GEX unavailable); trend UP (5d +1.6%); elevated-but-fading VIX: richer credit with vol tailwind
- call_credit AVOID (-3.00): fighting an uptrend: GEX live book saw 9% win rate doing this; disabled by default in the GEX live policy (call credits lost -$2,245 on 30d)
Keep playing
Playbook Trainer is an educational game built on historical market data. Nothing on this page is investment advice or a recommendation to trade. Options involve substantial risk; defined-risk spreads can lose their full maximum loss. Scenario dates are masked, and prices reflect historical option quotes with simplified fills.