Fri, Sep 25, 2026

Paper trading, not investment advice. Every account and book on these pages trades paper money: the Alpaca paper accounts DAILY ($1,000,000 from Sep 30, 2026), INTRA1 ($100,000 from Sep 30, 2026) and INTRA2 ($100,000 from Sep 30, 2026); the simulated books SIM-TT ($100,000 from Sep 29, 2026), SIM-V2B ($100,000 from Sep 28, 2026) and SIM-V2B-TOM ($100,000 from Sep 28, 2026), filled at the official close; and market-analysis's ledgers, one contract per position against a $100,000 reporting equity. No real money is at stake. Positions, trades and P&L are published the same day, as the engines record them, with each number's source and cost model labelled. Nothing here is a recommendation to buy, sell or hold any security, and nothing is tailored to you. Each strategy is a pre-registered experiment, read once on a date or at a trade count fixed in advance; until then its record says little either way. I may hold or have held positions in securities shown here. Markets can and do lose money.

No job run is recorded for this day.

Account MA

What the rules decided (10)

Strategy	Book	Time (ET)	Symbol	Action	Qty	Why	The rule's numbers
—	—	—	SPY	ON	—	ON	6 numbers x 15.67 vix 15.67 asof 2026-09-24 known true vix3m 18.43 x_median 15.205
—	—	—	QQQ	ON	—	ON	6 numbers x 21.24 vix 15.67 asof 2026-09-24 known true vix3m 18.43 x_median 20.89
S-B SPY put spread	champion	—	SPY	candidate	1	gate ON	11 numbers m 0.035667624320348756 k_c1 null k_c2 null k_p1 744 k_p2 717 spot 771.4 width 27 expiry 2026-10-16 dte_cal 21 credit_entry 1.3255868544600937 max_loss_usd 2567.4413145539907
S-B SPY iron condor	champion	—	SPY	candidate	1	gate ON	11 numbers m 0.035667624320348756 k_c1 799 k_c2 825 k_p1 744 k_p2 717 spot 771.4 width 27 expiry 2026-10-16 dte_cal 21 credit_entry 2.070170187793427 max_loss_usd 2492.982981220657
S-B QQQ put spread	champion	—	QQQ	candidate	1	gate ON	11 numbers m 0.05005940279527092 k_c1 null k_c2 null k_p1 707 k_p2 670 spot 744.58 width 37 expiry 2026-10-16 dte_cal 21 credit_entry 1.9305217391304348 max_loss_usd 3506.9478260869564
S-B QQQ iron condor	champion	—	QQQ	candidate	1	gate ON	11 numbers m 0.05005940279527092 k_c1 780 k_c2 825 k_p1 707 k_p2 670 spot 744.58 width 45 expiry 2026-10-16 dte_cal 21 credit_entry 3.7093352984524683 max_loss_usd 4129.066470154753
S-B SPY put spread, exploration	exploration	—	SPY	candidate	1	gate ON	11 numbers m 0.035667624320348756 k_c1 null k_c2 null k_p1 744 k_p2 717 spot 771.4 width 27 expiry 2026-10-16 dte_cal 21 credit_entry 1.3255868544600937 max_loss_usd 2567.4413145539907
S-B SPY iron condor, exploration	exploration	—	SPY	candidate	1	gate ON	11 numbers m 0.035667624320348756 k_c1 799 k_c2 825 k_p1 744 k_p2 717 spot 771.4 width 27 expiry 2026-10-16 dte_cal 21 credit_entry 2.070170187793427 max_loss_usd 2492.982981220657
S-B QQQ put spread, exploration	exploration	—	QQQ	candidate	1	gate ON	11 numbers m 0.05005940279527092 k_c1 null k_c2 null k_p1 707 k_p2 670 spot 744.58 width 37 expiry 2026-10-16 dte_cal 21 credit_entry 1.9305217391304348 max_loss_usd 3506.9478260869564
S-B QQQ iron condor, exploration	exploration	—	QQQ	candidate	1	gate ON	11 numbers m 0.05005940279527092 k_c1 780 k_c2 825 k_p1 707 k_p2 670 spot 744.58 width 45 expiry 2026-10-16 dte_cal 21 credit_entry 3.7093352984524683 max_loss_usd 4129.066470154753

8 trades opened

The session's numbers

graded: 0
candidates: 0
exploration: 0

ledger

graded: 0
emitted: 0
skipped: 0
wb_graded: 0
wb_emitted: 0
ledger_open: false
exploration_emitted: 0
exploration_skipped: 0

season

off

gate_next

QQQ: OFF:G2
SPY: OFF:G2

sb_running

is_entry_day

true

watch_basket

vol: 1
long: 36
short: 191
conflict: 106
available: true

sc_candidates

sc_exploration

signals_schema

d1.5

index_vol_through

2026-09-25

Record GitHub ledger
Cost model: S-B QQQ iron condor and 7 more
half of each leg's quoted spread plus $0.65 a contract at entry; $0.65 a contract at expiry
For S-B QQQ iron condor, S-B QQQ put spread, S-B SPY iron condor, S-B SPY put spread, S-B QQQ iron condor, exploration, S-B QQQ put spread, exploration, S-B SPY iron condor, exploration and S-B SPY put spread, exploration.
Record GitHub ledger
Cost model: S-C C1 iron butterfly and 2 more
half of each leg's spread plus $0.65 a contract at entry, the spread quoted from 15:00 to 16:00 ET or, for a wing priced by model, the stock's median option spread over the 20 sessions before, at least 5%; nothing at expiry
For S-C C1 iron butterfly, S-C C2 iron butterfly and S-C C1 iron butterfly, exploration.
Record GitHub ledger
Cost model: S-C C1 short straddle and 2 more
half of each leg's quoted spread from 15:00 to 16:00 ET plus $0.65 a contract at entry; nothing at expiry
For S-C C1 short straddle, S-C C2 short straddle and S-C C1 short straddle, exploration.

Opened	Closed	Account	Strategy	Symbol	Side	Size	Entry	Exit	P&L	Net P&L	Return	Held	Exit by	Status	Record
Sep 25, 2026	—	MA	S-B QQQ iron condor	QQQ	short	1	3.709335	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B QQQ put spread	QQQ	short	1	1.930522	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B SPY iron condor	SPY	short	1	2.07017	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B SPY put spread	SPY	short	1	1.325587	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B QQQ iron condor, exploration	QQQ	short	1	3.709335	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B QQQ put spread, exploration	QQQ	short	1	1.930522	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B SPY iron condor, exploration	SPY	short	1	2.07017	—	—	—	—	—	—	open	GitHub ledger (1)
Sep 25, 2026	—	MA	S-B SPY put spread, exploration	SPY	short	1	1.325587	—	—	—	—	—	—	open	GitHub ledger (1)

(1)
Record GitHub ledger
Cost model
half of each leg's quoted spread plus $0.65 a contract at entry; $0.65 a contract at expiry

Jobs

MA · market-analysis

What the rules decided (10)

8 trades opened

The session's numbers

Trades opened or closed