It was another profitable week and month for us at SPX Option Trader! We ended this past week with +58% ROI in our SPX weekly option trading, +53% ROI in our SPY weekly option trading, -21% ROI in our SPX Aggressive Trader, -30% ROI in our SPY Aggressive Trader and +55% ROM in our SPX Spread Trader. We ended the month of July with +107% ROI in our SPX weekly option trading, +64% ROI in our SPY weekly option trading, -411% ROI in our SPX Aggressive Trader, -453% ROI in our SPY Aggressive Trader and -235% ROM in our SPX Spread Trader.

Overall, not a huge month in the Daily Outlook, but still profitable. So a good month, however we had a rougher month in the Aggressive Trader and Spread Trader. For the Aggressive Trader it must be remembered that this is a highly speculative and aggressive way to trade, and we’ve seen large drawdowns in the past. While July was a down month, we can make that back in one good day with this strategy. This approach is not for everyone, and as we have repeatedly warned, you must be able to handle large drawdowns if you plan to implement this approach.

For the Spread Trader, it has been a rough couple of months for us. While not what we would prefer, it is similar to last year. We made the vast majority of 2022’s profit from July to December. While of course we cannot make any guarantees as to what lies ahead in the last half of this year, we are confident of better days ahead. This first week of August was a good week for the Spread Trader.

So, we look forward to what August has in store for us as we continue day trading SPX and SPY weekly options. We approach each day fresh, using the information provided in the SPX Daily Outlook. Below are our comments for each day of this past week:

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