Daily Options Scenario
Daily Options Scenario #48
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 going nowhere in particular, options charging more for trouble by the day, 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 | 5,110 / 5,080 | +$412.50 credit | $412.50 | $2,587.50 | above 5,105.9 |
| Bear call credit spread | 5,220 / 5,250 | +$407.50 credit | $407.50 | $2,592.50 | below 5,224.1 |
| Bull call debit spread | 5,220 / 5,165 | −$2,167.50 debit | $3,332.50 | $2,167.50 | above 5,186.7 |
| Bear put debit spread | 5,105 / 5,160 | −$1,517.50 debit | $3,982.50 | $1,517.50 | below 5,144.8 |
| 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 2.76% from 5165 to settle at 5022.21. VIX went from 17.3 to 18.2. The hold low of 5007 traded through the 5110 short put strike.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | LOSS | −$2,588.80 |
| Bear call credit spread | WIN | +$406.20 |
| Bull call debit spread | LOSS | −$2,168.80 |
| Bear put debit spread | WIN | +$3,981.20 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit REDUCED (+0.75): rangebound: SPX -0.7% over 5 sessions, VIX +8.0% — no directional agreement between tape and vol (+0.75); SPX trend CHOP (5d -0.7%, 20d +0.9%) (+0.25); VIX 17.3 is elevated: sellers are paid more, buyers pay up (+0.50); VIX jumped +16.1% in one session — the repricing is still in motion (-0.75)
- call_credit REDUCED (-0.75): rangebound: SPX -0.7% over 5 sessions, VIX +8.0% — no directional agreement between tape and vol (-0.50); SPX trend CHOP (5d -0.7%, 20d +0.9%) (+0.25); VIX 17.3 is elevated: sellers are paid more, buyers pay up (+0.50); VIX jumped +16.1% in one session — the repricing is still in motion (-0.25); 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.