Daily Options Scenario
Daily Options Scenario #80
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 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 | 4,405 / 4,380 | +$327.50 credit | $327.50 | $2,172.50 | above 4,401.7 |
| Bear call credit spread | 4,500 / 4,525 | +$307.50 credit | $307.50 | $2,192.50 | below 4,503.1 |
| Bull call debit spread | 4,500 / 4,455 | −$1,857.50 debit | $2,642.50 | $1,857.50 | above 4,473.6 |
| Bear put debit spread | 4,405 / 4,450 | −$1,150.00 debit | $3,350.00 | $1,150.00 | below 4,438.5 |
| 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 0.45% from 4453 to settle at 4432.99. VIX went from 19.5 to 20.8. Neither credit short strike (4405P / 4500C) was touched.
| Choice | Result | P&L |
|---|---|---|
| Bull put credit spread | WIN | +$326.20 |
| Bear call credit spread | WIN | +$306.20 |
| Bull call debit spread | LOSS | −$1,858.80 |
| Bear put debit spread | WIN | +$549.70 |
| No trade — stand aside | stood aside | $0.00 |
- put_credit REDUCED (-0.75): risk-off: SPX -1.4% over 5 sessions with VIX +7.3% — the index is losing ground and vol is confirming it (-0.25); SPX trend DOWN (5d -1.4%, 20d +0.1%) (-1.00); VIX 19.5 is elevated: sellers are paid more, buyers pay up (+0.50)
- call_credit REDUCED (+0.00): risk-off: SPX -1.4% over 5 sessions with VIX +7.3% — the index is losing ground and vol is confirming it (-0.50); SPX trend DOWN (5d -1.4%, 20d +0.1%) (+0.75); VIX 19.5 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.