Daily Options Scenario
Daily Options Scenario #64
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 | 4,015 / 3,990 | +$472.50 credit | $472.50 | $2,027.50 | above 4,010.3 |
| Bear call credit spread | 4,100 / 4,125 | +$595.00 credit | $595.00 | $1,905.00 | below 4,105.9 |
| Bull call debit spread | 4,105 / 4,060 | −$1,825.00 debit | $2,675.00 | $1,825.00 | above 4,078.2 |
| Bear put debit spread | 4,010 / 4,055 | −$1,482.50 debit | $3,017.50 | $1,482.50 | below 4,040.2 |
| 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 1.65% from 4059 to settle at 3992.01. VIX went from 18.5 to 19.1. The hold low of 3970 traded through the 4015 short put strike.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | LOSS | −$1,827.80 |
| Bear call credit spread | WIN | +$593.70 |
| Bull call debit spread | LOSS | −$1,826.30 |
| Bear put debit spread | WIN | +$3,016.20 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit FAVORED (+3.25): risk-on: SPX +1.9% over 5 sessions with VIX -14.7% — the tape is rising and vol is confirming it (+1.50); SPX trend UP (5d +1.9%, 20d -1.9%) (+0.75); VIX 18.5 is elevated: sellers are paid more, buyers pay up (+0.50); VIX has collapsed -14.7% over 5 sessions — fear is draining out (+0.50)
- call_credit AVOID (-3.25): risk-on: SPX +1.9% over 5 sessions with VIX -14.7% — the tape is rising and vol is confirming it (-1.75); SPX trend UP (5d +1.9%, 20d -1.9%) (-1.50); VIX 18.5 is elevated: sellers are paid more, buyers pay up (+0.50); VIX has collapsed -14.7% over 5 sessions — fear is draining out (+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.