Daily Options Scenario
Daily Options Scenario #73
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 leaking lower, options priced for real swings, 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 | 4,360 / 4,335 | +$642.50 credit | $642.50 | $1,857.50 | above 4,353.6 |
| Bear call credit spread | 4,455 / 4,480 | +$865.00 credit | $865.00 | $1,635.00 | below 4,463.6 |
| Bull call debit spread | 4,455 / 4,410 | −$2,202.50 debit | $2,297.50 | $2,202.50 | above 4,432.0 |
| Bear put debit spread | 4,360 / 4,405 | −$1,630.00 debit | $2,870.00 | $1,630.00 | below 4,388.7 |
| 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 1.53% from 4408 to settle at 4475.01. VIX went from 27.4 to 24.3. The hold high of 4490 traded through the 4455 short call strike.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | WIN | +$641.20 |
| Bear call credit spread | LOSS | −$1,137.30 |
| Bull call debit spread | WIN | +$2,296.20 |
| Bear put debit spread | LOSS | −$1,631.30 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit AVOID (-3.50): capitulation: VIX 27.4 and still expanding (+17.8% over 5 sessions) with SPX -1.7% (-2.00); SPX trend DOWN (5d -1.7%, 20d -5.5%) (-1.00); VIX 27.4 is rich: long premium is expensive and credit is rich for a reason (+0.25); VIX jumped +14.4% in one session — the repricing is still in motion (-0.75)
- call_credit REDUCED (+0.25): capitulation: VIX 27.4 and still expanding (+17.8% over 5 sessions) with SPX -1.7% (+0.25); SPX trend DOWN (5d -1.7%, 20d -5.5%) (+0.75); VIX 27.4 is rich: long premium is expensive and credit is rich for a reason (+0.25); VIX jumped +14.4% 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.