Daily Options Scenario #43
SPXPlay · Daily · 2026-08-23
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 3 DTE. Pick your play, then reveal what the tape did.
This board: a tape leaking lower, options charging more for trouble by the day, 3 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 | 4,575 / 4,550 | +$450.00 credit | $450.00 | $2,050.00 | above 4,570.5 |
| Bear call credit spread | 4,670 / 4,695 | +$535.00 credit | $535.00 | $1,965.00 | below 4,675.4 |
| Bull call debit spread | 4,675 / 4,625 | −$2,010.00 debit | $2,990.00 | $2,010.00 | above 4,645.1 |
| Bear put debit spread | 4,570 / 4,620 | −$1,590.00 debit | $3,410.00 | $1,590.00 | below 4,604.1 |
| 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 1 session SPX fell 1.16% from 4621 to settle at 4568.02. VIX went from 20.6 to 22.9. The hold low of 4531 traded through the 4575 short put strike.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | LOSS | −$249.30 |
| Bear call credit spread | WIN | +$533.70 |
| Bull call debit spread | LOSS | −$2,011.30 |
| Bear put debit spread | WIN | +$3,408.70 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit REDUCED (+0.50): orderly pullback: SPX -1.9% over 5 sessions while VIX -4.7% — selling is being absorbed (+1.00); SPX trend DOWN (5d -1.9%, 20d -1.8%) (-1.00); VIX 20.6 is elevated: sellers are paid more, buyers pay up (+0.50)
- call_credit REDUCED (-0.50): orderly pullback: SPX -1.9% over 5 sessions while VIX -4.7% — selling is being absorbed (-1.00); SPX trend DOWN (5d -1.9%, 20d -1.8%) (+0.75); VIX 20.6 is elevated: sellers are paid more, buyers pay up (+0.50); short calls sell the side with no ceiling, against an underlying that drifts up over time — this structure was the weakest in the book across every regime (-0.75)
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.