SPY

Green_Conclusion5792

Think SPY vs SPX options

cbusoh66

If oil hits $100 again,🥭will call CBS and claim the war is 98% complete and Ayatollah Jr. offered to build a Trump tower in downtown Tehran SPY will rally 3% instantly

colinr813

Donald “will do ANYTHING and I mean ANYTHING to keep SPY above 600” Trump

SlartibartfastMcGee

Quick recap of today: SPY rallied in the early hours, then dumped right before close, shot up midday and then fell to finish flat. Literally theta gang’s dream day.

Ok_Ambassador_4311

Why only SPY !banbet

PocaMadre69

Should’ve bought 50 SPY 675 calls at 3PM on Monday $100 -> $25,000

Creative-Package6213

CPI tomorrow morning, you already know what happens... We drill...then we close flat. If you didn't buy puts today for tomorrow on SPY or QQQ I feel bad for ya son!

Carl_Bravery_Sagan

If he mixed up the buy-sell then he's risking $36,750 that SPY would *not* drop 6% for the chance of earning $750. In which case, the regarded thing there would be OP taking that bet without understanding how options work and risking that money without understanding it (even if that bet wins)

Valkorion335786

Tomorrow WSB will watch SPY move + / - 0.3% and instantly declare the economy saved / destroyed.

SarmaLer

Peter Griffin here to explain this regarded trade: Theoretically unless he transacted the legs of this 375 Bear Call Spreads (-635C+636C) at different times, he definitely could not have won anything since both legs finishing ITM means the strategy ended at max loss. However (unless again he transacted the legs at different times) he could not have lost 37.5K since he pocketed the premium. Anyway, you can easily check option transactions, so I actually found them and they were purchased at the same time. 03/09 11:22 AM EST 375 SPY 635C @34.57 375 SPY 636C @33.59 So, he sold that for a premium of 0.98 per Spread (and my guess is that out of that around 0.02 per Spread was eaten by the transaction fees). So let's say 0.96. So we have a loss of (1-0.96)*100*375=$1500 So he basically bet $1500 on SPY dropping more than 3-4% in 1 day and he lost.

dataCollector42069

After the stress today of doing 60 SPY 672 puts I think I am retiring. Don’t trust myself after being a degen today risking more than I am comfortable with. Leaving ahead 🫡

natures3

The fact SPY and Qs are holding shows the USGOV at work. Good shit.

Vast-Firefighter-890

and? everyone doesnt rely on SPY

papaganoush75

Do you think SPY can drop 3.5% tomorrow?

eoekas

But why would you even do this haha. Even if you actually believed SPY would drop this low it was a stupid play. What was the premium you received?

goinshort

Yes, that is assuming OP is not regarded and $750 is actually what it said max loss was, you can back into the premium received that way which would be mean he got $.98 credit per contract sold. **Per Contract** Spread between strikes: $1 Premium Received: $.98 Max Gain (SPY closes below $635 on expiration): $.98 \* 375 = $36,750 Max Loss (SPY closes above $636 on expiration): $.02 \* 375 = $750

Carl_Bravery_Sagan

See my other comment. You lost about $1250. Luckily not the $37,500 other redditors think you lost. That's $500 to pay for the commissions for buying any contracts to begin with (which was probably already gone from your account), and now another $750 which comes from that $0.02 per share (375 contracts * $0.02 loss per share * 100 shares / contract). You would have made money only if SPY had dropped below $635.98/share. You would have made up to $36,750 if it fell another $0.98 below $365/share. Please don't fuck with options if you don't know what you're doing.

Carl_Bravery_Sagan

He probably also spent $0.65 per contract in each direction which itself is nearly $500. But, yeah, this was the juicy info I was looking for after realizing what's going on. OP, you lost $487.50 paying the commissions to buy and sell 750 contracts. And you also lost $750 because you'll end up spending $37,500 to buy 37500 shares at a dollar apiece more than you're about to sell them for, but you only earned $36750 from selling your options contracts. OP, final advice. Don't fuck with options contracts if you don't know what you're doing. You lost $1250 betting that SPY would drop below $635.98/share. Be thankful that most of the redditors here don't understand that you're not out $37,500.

throwawayainteasy

EFA and other ex-US indices have largely outperformed SPY over the last 1M, YTD, and 6M. It's worked out very well. I'm pretty far ahead of SPY over that time.

shekurika

technically this cant happen on SPY options either as he can just sell if exercised. but yeah as long as you dont SELL anything and only BUY calls/puts you can lose the premium you paid at most on SPX

RedditConsciousness

Yep. Or SPY. Admittedly Vanguard is slightly better though you may never notice the difference.

Carl_Bravery_Sagan

OP was evidently banking on SPY dropping below $635 before today

sashazaliz

the underperform argument is true in a ripping bull market, no point pretending otherwise. but most ppl arent 100% buy and hold in practice they panic sell, overtrade, chase. covered calls force discipline and the premium income is real. for someone whos genuinely gonna hold SPY forever and never touch it, sure, skip the calls. for everyone else the consistency has value

savemoney_god

SPY will hit 700 before 2100!!

sashazaliz

this is actually solid advice. SPY wheeling is safer but the premiums are thin bc of the low vol. the real sweet spot is finding stocks with elevated IV that you genuinely wouldnt mind owning long term thats the whole game. ASTS-type stuff is a different animal, premiums look amazing until the stock cuts in half and ur stuck bag holding. underlying selection is everything with the wheel

ElkWitty2044

Full position was that I bought 375 SPY call credit spreads at 636/635 for a credit of 0.98 per contract.

patmccock86

I'm telling you every time SPY starts going down this guy Orange starts sweating fucking hard, tacos and margs for everybody

Carl_Bravery_Sagan

OP is out less than $37,500 (which, by the way, comes from the difference between his strike prices for the 375 contracts of 100 shares each that he sold a spread in) because he got nearly that much money from selling the contracts to begin with. Assuming he bought them fairly recently, SPY has been pretty far in the money for a while, so the difference in contract price was probably nearly a dollar. OP probably actually is out like a thousand bucks or so on the spread. Oh. And he spent like $500 just on the freaking $0.65 commissions. Fucking dumbass. OP, if you decide not to exercise your spread, just give the 636 call options to me and I'll execute them for you. I'll only charge you $20,000 for them.

TotalInstruction

So you bought 37500 shares of SPY at market price (678ish) and sold them to someone for 635 a share? No big deal, you’re only really out… $1,612,500… So what was the long position in your credit spread? Exercise that to buy the shares and sell them. Unless you let the calls expire…

HammerAndSickleBot

Can you explain exactly what happened - did OP sell covered calls expecting SPY to plunge so he could rebuy at a much lower price?

Impressive-Bee-5183

I'm going to push back on this pretty hard, not because wheeling is bad, but because the reasoning has some red flags. **"The premiums are super juicy"** This is the most dangerous sentence in options trading. The premiums on ASTS and ONDS are high because the market is pricing in massive move potential. You're not finding free money - you're getting paid to absorb risk that other people don't want. **The math on your ASTS example:** $2,880 premium on $70 strike = 4.1% return in 31 days. Sounds amazing. But ASTS has moved 20-30% in a single week multiple times. If it drops to $50, you're assigned at $70, down $20/share ($2,000/contract) minus the $2,880 premium. And that's only two contracts. On a stock like ASTS that can happen on a single bad headline. **S&P500 returns \~10% annually with minimal effort.** To beat that wheeling, you need consistent wins AND you need to avoid the blowup trades. One bad assignment on a volatile name can wipe out months of premium collected. **If you still want to wheel (which I get, the income is appealing):** Don't move all $80K. Maybe $20-30K dedicated to wheeling while the rest stays in SPY. Then: * Pick stocks where IV is elevated *relative to their own history* \- not just "premium looks fat." ASTS premium is always high because it's always volatile. You're not getting a special deal. * Make sure sentiment isn't already turning bearish before you sell puts * Avoid selling CSPs right before earnings or catalysts * Diversify across 3-5 names, don't concentrate in one or two volatile stocks I track this stuff on about 4,000 tickers daily - built a tool to check whether IV is genuinely elevated vs history, whether sentiment favors sellers, and whether there's an event landmine in the DTE window. Free to use, called Options Pilot. Would at least help you avoid selling puts on names where the "juicy premium" is high for a very good reason. The worst outcome here isn't missing out on premium. It's being assigned on ASTS at $70 when it's trading at $45 while your $80K could've been sitting in SPY up 10%. What's your timeline for needing the income?

SchwiftySchwifferson

You guys remember when SPY forgot there was a war on? That was cool

MirkManEA

What was the thesis here, OP? SPY drop b/c of oil shortage? extended conflict? Total collapse? It looks like deescalation kicked in sooner than I expected. Have you run this play before?

Oranier-Citizen

But this is an incredibly weird trade and shows you have no idea what you're doing. You would have kept the full credit if SPY went below $635 today, which is a 6.3% fall.

Lets_review

Quantity of 375 call credit spreads on SPY with a $1 strike difference... Loss of $37,500. Was it deep in the money when you opened the call credit spreads?  Or months ago, did you open an (almost) ATM spread with an expiration for today?

Herbst88

Dude what the heck were you thinking? SPY at 635? I think the last time it hit that was in August. The market is pumping, not dumping. Consider it your college tuition, you're learning the hard way.

SuspiciousStable9649

Today’s fortune: SPY and QQQ are at 150 day MA.

Carl_Bravery_Sagan

Not sure if I'm reading this right, but it looks like OP sold a call option (a bunch) at 635 and bought at 636. If so, he definitely wants to exercise to buy SPY at 636 and not at 676 so he can lose his dollar per share rather than $40 per share.

zerg_001

The difference between the SPY shares he is receiving and the SPY shares he owes someone else

DriftWoodBarrel

I have a small call position in SPY tomorrow. Today I made 6%, lost out on some calls later. I feel like I could have made 20%, but it's not easy. Let me know if you can more reliably read SPY's day to day.

Independent-Cress382

It’s on margin meaning money loaned from Robinhood, and it’s quite possible they will charge him interest for $23 million in SPY shares

Moepenmoes

What will happen why SPY hits 700?

Spr-Scuba

So wait did you sell $635 SPY calls and try to do a spread with buying $636 calls?

Doc_Vapor

I've got 6k worth of stocks in my acct that I use for my "fun money.". Do I sell all tomorrow in preparation to go all in on SPY calls for Friday?

Rude_Assistance_4386

🎶*Despite all the rage, I am still just a SPY in a range*🎶

BearContra

!banbet SPY 670 24h

East-Resolution4446

I just checked, it was Monday April 6, 2025. The fake news made an SPY intraday upward increase of 6.9% that settled lower on report of fake news but some optimism. Tuesday was a complete reversal downwards on the news. Then Wednesday April 8, 2025 he had that “Be Cool” tweet and made the fake news from Monday an actual reality and SPY ended 10% higher just that day alone. Then that started one hell of a bull market run.

dub_soda

Yay SPY moved a quarter of a dollar today. We’re so back in the range

TheNathanNS

One I can think of, is for the case of country based index funds like SPY, FTSE 100, Nikkei 225 etc is you're just solely investing in one single country. If say, you invest in South Korea's market and war breaks out with North Korea, incredibly high chance the entire S. Korean market is going to plummet hard. But even then you have the All-world so that I think that negates my argument.

actualricebowl

You sold naked calls without a margin account? That means you have $23m of SPY shares to cover.

OrionJohnson

Crash? We don’t do that. SPY will just oscillate wildly around $680 for the next 3 years and you’ll like it.

Mean-Imagination6670

LMAO! Do you not know how to trade SPY options?

Crazy_Donkies

MU I need you to drop to $401 so I can reenter my calls I sold right at the diabolical SPY drop.

No-Butterfly-9989

Are my SPY puts cooked i was banking on ORCL missing

PersonalFinance4all

Quick look, Delta of the put option you want to sell if 0.18, IV is 100%, you are way too optimistic about the probability of not being assigned. If you were really looking not to be assigned, delta < 0.1 and only doing CSP. Meaning strike 60, and you still will get assigned roughly once every 10 trades. With the one you are suggesting, you will get assigned once every 5 trades approx. Honestly, just wheel the SPY if you want to optimize your positions

Odd-Block-2998

The was has completed. We succeeded in crashing China's economy (true goal), which will preserve Taiwan safety. To celebrate, SPY can now go to $800.

WingedScapula420

https://preview.redd.it/slb2fyxkz9og1.jpeg?width=600&format=pjpg&auto=webp&s=07b38ce934664df854a7eb6c483c92da7b674bb0 Everyone who bought SPY calls at the top when the mine news came in

ARSC_RexH

WTF is this big ass off hours buy order on SPY. God damn.

Gom_KBull

# HAH # stuffing cash under your mattress outperforms SPY LMAO

Big-Routine222

Bought a SPY put for tomorrow because I feel nothing anymore.

ATUGA

1d 1w 1m and 3m all red for SPY

SighRamp

SPY closed second day in row under 100SMA last time was year ago and dropped by 20% will be interesting if history repeats itself or not. Before Monday open expected SPY move was 22 pts.

abscando

SPY400

Same-Brilliant2014

How my SPY 700 0DTE doing???

ConstantEfficiency83

Dead cat bounce complete. What hits $300 first, SPY or oil?

Abject-Shopping-4492

Wow 3 months and you are ready to give up? I have been trading for over20 years and I never had the advantages you have? There are many strategies you can try. Learn to trade the SPY, focus on entering after the market has settled down each day around say 10:15 AM or 3:15 PM closing of day. Pick an expiration At or near the money and choose a call if the chart is making higher highs and higher lows. Buy one option one week ou if before Wednesday or next week out if Wednesday or later of current week. Plot on the daily chart the closing price, the high price and the low. Make a note of the very first 30 minute candle high and low and watch for when price pushes up through the high or low. To keep it simple if price of option goes up 35 percent close it out. If it goes down 35 percent stop out. This is 1:1 risk reward do 25 trades like this no fear no emotion just process. Do it on paper first if you are afraid to lose money. When you can do this in your sleep you can try for more advanced topics. Why give up when you can one day learn and be profitable and not have to work for anyone anymore. Good luck.

Longjumping_Tree6561

Why tf did RH sell my 0DTE SPY put for a loss when its up rn

Madsen13140

Cash about to be deployed in fucking SPY shares cuz i swear i will never gamble again

unhappyreach_

Looking back SPY puts EOD was the obvious move

mandoslambo

Praying SPY opens at 650 tomorrow rn

HaveAKlondike

Index related, SPY during the Covid crash. A literal 10% swing happened over a day (-5% to +5%). Was the craziest thing I’ve ever seen.

iAmGrimTV

SPY officially making shitcoin moves up and down we are so back

jazzyjjcups

Sub-90 oil, 20% of the world's supply gone, mines in the strait SPY & QQQ should be way down further than it is. TACO not going to work this time.

COLU_BUS

Get up! Get up Ser SPY, get up!

WSB-mods-are-

SPY started plummeting directly at 3:30 lmao

Liability049-6319

The year is 2050. I just paid $47 for toilet paper, and SPY is still at 675

Ok_Wealth_3433

I just made $83 trading SPY 0DTE’s let’s go I’m rich

callsonreddit

This is why SPY dropped [https://www.reddit.com/r/worldnews/comments/1rq5xws/report\_us\_detects\_signs\_iran\_preparing\_to\_lay/](https://www.reddit.com/r/worldnews/comments/1rq5xws/report_us_detects_signs_iran_preparing_to_lay/)

SighRamp

3/3 and 3/4 2025 was last time SPY closed below 100SMA and started a YUGE selloff...

Bloomeyer

ok smart i have spreads on ORCL and SPY but my monkey brain didnt think of USO spreads

SighRamp

all these regards talkin bout SPY moonin

shoesshirt

!banbet SPY -1% 1d

Upset-Motor-2602

50-day SMA is getting awfully close to crossing under the 100-day SMA for SPY....Mission will be accomplished by Friday.

Devastaytah

SPY - Domain Expansion : Infinite Bounce

unwanted_hair

QQQ/SPY almost flat on the 50/200DMAs... so obviously it's puts for regarded bers.

sierratangocharlie

I think I can hear SPY screaming in pain

Terrible_Act688

People are getting a little yippy! SPY 650 tomorrow.

Zealousideal_Wall627

!banbet SPY $800 365d

SighRamp

go back and look at what happened to the market when SPY failed to close above the 100SMA 2 days in a row...

Low_Sheepherder7990

AVGO following SPY but not getting the pumps back up... smh

Nice-Difference8641

My first assumption is that the mine intelligence leak is more insider trading bullshit and based on nothing. Bari Weiss probably just wants in on the oil pump and dump. SPY calls and oil puts

Winterspawn1

The risk with SPY and VOO is that they both consist out of American companies only and are very tech heavy.

SuspiciousStable9649

What is SQQQ but for SPY please? I want to full port that.

j3rdog

You’re gunna lose money. If you really wanna sell calls then buy 100 shares of SPY and sell 10 delta covered calls 30 DTE and pick up a few extra percent a year.

TheOriginalBushToad

If you actually believe Trump that the war will "be over soon", you're a special needs person. He's been saying that about Ukraine for 4 years. Puts on SPY, easy money....

MutaliskGluon

A weakening economy with credit cracks showing up everywhere with valuations nearing all time highs and the market being propped up by fraud and phony accounting is not "noise" lmao. if I put all my account in cash, and SPY went up 135% tomorrow, I would still be outperforming SPY since Jan 1 2020.

big_chestnut

!banbet SPY 600 1w

Flat-Focus7966

SPY range bound between 677-680 for a while

Perfectly_Splendid89

SPY will go down to 675 today.

neo-futurism

The momenet I play BUL, SPY plays me. Why BULS are such losers?