| Buy put @ 0.98× price (higher strike) | Pay premium — long leg, bearish |
| Sell put @ 0.95× price (lower strike) | Collect premium — caps max profit |
| Net debit paid at open | Max loss = debit × 100 × qty |
| Profits when AMZN falls below long put strike | Max profit = (width − debit) × 100 × qty |
| Average winner | +$3,418 |
| Average loser | $-859 |
| Best trade | +$6,860 (2025-11-17) |
| Worst trade | $-1,650 (2025-01-13) |
| Total gross wins | +$20,510 |
| Total gross losses | $-6,870 |
| Metric | Value | Notes |
|---|---|---|
| Risk per trade (max) | $1,051 avg | Net debit paid — defined risk |
| Max profit per trade | $5,021 avg | Width minus debit |
| Max drawdown | $2,770 | Peak-to-trough cumulative |
| Best single trade | +$6,860 | 2025-11-17 open |
| Worst single trade | $-1,650 | 2025-01-13 open |
Total P&L of +$13,640 over 14 trades — the bearish directional bias aligned with AMZN's 2022 downtrend.
Only 42.9% win rate. As a net-debit strategy, a payoff ratio of 3.98x is needed to be profitable — check if it clears that bar.
Unlike credit spreads, the debit paid is the maximum loss per trade. Losing streaks consume capital faster. Defined risk, but requires directional accuracy to be profitable.
AMZN fell ~50% Jan–Oct 2022. The bearish put spread should have directional tailwind, but intraweek chop (open Monday, close Thursday) may have muted returns or caused whipsaws.
All pricing uses real OPRA options bar data from Alpaca (feed=opra). Entry = Monday bar open; Exit = Thursday bar close. No commissions, slippage, pin risk, or early-exercise risk are modelled. Actual results will differ.
📋 Full Trade Log is not displayed on mobile devices to prevent page freezing. View this report on a desktop browser to see all 14 trades.
| Open Date | Close Date | Expiry | S Open | S Close | Long K / Short K | Width | Net Debit | Close Value | P&L | Cum P&L |
|---|---|---|---|---|---|---|---|---|---|---|
| 2024-03-11 | 2024-03-14 | 2024-03-15 | $174.25 | $178.84 | 170 / 165 | 5 | $0.5800 | $0.0200 | $-560 | $-560 |
| 2024-07-15 | 2024-07-18 | 2024-07-19 | $194.50 | $183.68 | 190 / 185 | 5 | $0.6900 | $3.7700 | +$3,080 | +$2,520 |
| 2024-09-30 | 2024-10-03 | 2024-10-04 | $187.07 | $181.90 | 185 / 180 | 5 | $1.0900 | $2.6500 | +$1,560 | +$4,080 |
| 2024-12-30 | 2025-01-02 | 2025-01-03 | $219.99 | $220.21 | 215 / 210 | 5 | $0.6200 | $0.2100 | $-410 | +$3,670 |
| 2025-01-13 | 2025-01-16 | 2025-01-17 | $218.09 | $220.65 | 215 / 205 | 10 | $1.7500 | $0.1000 | $-1,650 | +$2,020 |
| 2025-03-10 | 2025-03-13 | 2025-03-14 | $195.61 | $193.92 | 190 / 185 | 5 | $0.9700 | $0.4300 | $-540 | +$1,480 |
| 2025-03-31 | 2025-04-03 | 2025-04-04 | $188.11 | $178.41 | 185 / 180 | 5 | $1.3000 | $3.5800 | +$2,280 | +$3,760 |
| 2025-04-21 | 2025-04-24 | 2025-04-25 | $169.50 | $186.49 | 165 / 160 | 5 | $0.9800 | $0.0000 | $-980 | +$2,780 |
| 2025-08-11 | 2025-08-14 | 2025-08-15 | $222.24 | $230.89 | 220 / 210 | 10 | $1.5300 | $0.0600 | $-1,470 | +$1,310 |
| 2025-09-22 | 2025-09-25 | 2025-09-26 | $230.56 | $218.16 | 225 / 220 | 5 | $0.7300 | $4.3000 | +$3,570 | +$4,880 |
| 2025-11-17 | 2025-11-20 | 2025-11-21 | $232.94 | $217.19 | 230 / 220 | 10 | $1.9800 | $8.8400 | +$6,860 | +$11,740 |
| 2025-12-08 | 2025-12-11 | 2025-12-12 | $229.42 | $230.28 | 225 / 220 | 5 | $0.9000 | $0.1000 | $-800 | +$10,940 |
| 2026-03-09 | 2026-03-12 | 2026-03-13 | $210.51 | $209.56 | 205 / 200 | 5 | $0.8600 | $0.4000 | $-460 | +$10,480 |
| 2026-06-01 | 2026-06-04 | 2026-06-05 | $266.29 | $253.85 | 260 / 255 | 5 | $0.7300 | $3.8900 | +$3,160 | +$13,640 |