Daily Options Scenario
Daily Options Scenario #51
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 priced for quiet, 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 | 4,815 / 4,790 | +$190.00 credit | $190.00 | $2,310.00 | above 4,813.1 |
| Bear call credit spread | 4,920 / 4,945 | +$166.25 credit | $166.25 | $2,333.75 | below 4,921.7 |
| Bull call debit spread | 4,920 / 4,870 | −$1,416.25 debit | $3,583.75 | $1,416.25 | above 4,884.2 |
| Bear put debit spread | 4,815 / 4,865 | −$1,332.50 debit | $3,667.50 | $1,332.50 | below 4,851.7 |
| 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 rose 0.03% from 4867 to settle at 4868.55. VIX went from 13.3 to 13.1. Neither credit short strike (4815P / 4920C) was touched.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | WIN | +$188.70 |
| Bear call credit spread | WIN | +$164.95 |
| Bull call debit spread | LOSS | −$1,417.55 |
| Bear put debit spread | LOSS | −$1,333.80 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit REDUCED (+0.00): mixed signal: SPX +1.7% over 5 sessions but VIX +6.9% — the tape and vol disagree, and neither side is being paid (-0.25); SPX trend UP (5d +1.7%, 20d +3.6%) (+0.75); VIX 13.3 is cheap: optionality is well priced, but credit is thin for the tail you carry (-0.50)
- call_credit AVOID (-2.75): SPX trend UP (5d +1.7%, 20d +3.6%) (-1.50); VIX 13.3 is cheap: optionality is well priced, but credit is thin for the tail you carry (-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.