It was a mixed week for us at SPX Option Trader. We ended the week with -54% ROI in SPX Daily Outlook, -49% ROI in SPY Daily Outlook, -113% ROI in SPX Aggressive Trader, -106 % ROI in SPY Aggressive Trader, +47% ROI in Late Day Trader, and +46% ROM in SPX Spread Trader.  The Spread Trader and Late Day Trader were the only positive strategies for us this week.

Weeks like this are a good reminder of how important it is to handle drawdowns properly. Every strategy has them. They are simply part of trading. The key to long-term success is not avoiding every down week, because that is not realistic. The key is knowing how to manage those periods when they occur.

The first step is proper position sizing. Traders should never trade more than they can afford to lose, and a week like this should not create unnecessary stress or concern. If a normal drawdown causes a trader to lose sleep, it is often a sign that the position size is too large. We have several articles on our website that discuss position sizing and account management, and we strongly encourage members to review those materials.

The second step is making sure the strategy itself is sound. SPX Option Trader has been publishing trades since 2016, and our complete trade history is available for members to review. That history includes winning periods, losing periods, flat stretches, and strong recoveries. A week like this is not unusual in the broader context of long-term trading. Seeing that history helps provide perspective and confidence when short-term results are weaker.

The third step is staying consistent and disciplined. It is easy for traders to become frustrated after a drawdown and start changing their approach, increasing size to make losses back quickly, or jumping into trades that do not fit the plan. That is usually when small drawdowns can become much larger problems. Our approach is to stay patient, follow the same process, and continue managing risk the same way we always do.

No single day or week defines success. What matters is applying a proven strategy consistently over time, keeping emotions under control, and allowing the long-term results to play out. Drawdowns are never enjoyable, but they are manageable when position size, expectations, and discipline are all in line.

We look forward to the week ahead as we continue trading SPX and SPY 0DTE options. The daily entries below are presented as a trade log showing the trading activity for each strategy. Times are referenced to the nearest 5-minute interval.

Real-time trade alerts include entry limits, profit targets, stop levels, and intraday updates as trades develop. Full trade details are available to members only.

7/20/2026

Daily Outlook

We forecast an up day and entered our positions just before 9:35 a.m. We exited just before 9:40 a.m. for +11% in SPX and +8% in SPY.

Aggressive Trader

We entered our positions just before 9:35 a.m. We exited just before 9:50 a.m. for -5% in SPX and -8% in SPY.

Spread Trader

We exited early for +0% ROM.

Late Day Trader

No trade due to market conditions.

7/21/2026

Daily Outlook

We forecast an up day and entered our positions just after 9:35 a.m. We exited at 9:40 a.m. for -23% in SPX and -22% in SPY.

Aggressive Trader

We entered our positions just after 9:35 a.m. We exited at 9:40 a.m. for -35% in SPX and -35% in SPY.

Spread Trader

We held to the close for +46 % ROM.

Late Day Trader

No trade due to market conditions.

7/22/2026

Daily Outlook

We forecast a down day and entered our positions at 9:35 a.m. We exited at 9:40 a.m. for -26% in SPX and -20% in SPY.

Aggressive Trader

We entered our positions at 9:35 a.m. We exited just before 9:55 a.m. for -40% in SPX and -33% in SPY.

Spread Trader

We held to the close for -22% ROM.

Late Day Trader

We entered our position just after 1:50 p.m. and exited at 2:00 p.m. for +47%.

7/23/2026

Daily Outlook

No trade due to market conditions.

Aggressive Trader

No trade due to market conditions.

Spread Trader

We exited early for +18% ROM.

Late Day Trader

No trade due to market conditions.

7/24/2026

Daily Outlook

We forecast an up day and entered our positions just before 9:35 a.m. We exited at 9:40 a.m. for -16% in SPX and -14% in SPY.

Aggressive Trader

We entered our positions just before 9:35 a.m. We exited just after 9:50 a.m. for -33% in SPX and -31% in SPY.

Spread Trader

We exited early for +4% ROM.

Late Day Trader

No trade due to market conditions.