QQQ, Sep 18, 2026 · Trading desk

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.

Account: MA
Strategy: S-B QQQ put spread, exploration
Book: exploration
Symbol: QQQ
Asset class: option structure
Side: short
Exposure: long
Status: closed
Opened: Sep 18, 2026
Closed: Oct 9, 2026
Quantity: 1
Entry price: 2.188364
Exit price: 0.00
Exit by: expiry
Book value at entry: —

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

Entry value: —
Exit value: —
P&L: +$218.84
Dividends: —
P&L with dividends: —
Costs: $6.65
Net P&L: +$212.19
Return: —
Of the book: —
R multiple: +0.07
Held: 21 days

Role	Date	At (ET)	Side	Qty	Asked	Price	Rule's price	Close	Slippage	Against the close	How	Why	The rule's numbers
entry	Sep 18, 2026	—	sell	1	—	2.188364	—	—	—	—	late window	gate OFF:G2	8 trigger numbers x 19.96 vix 15.44 asof 2026-09-17 mode both vix3m 18.55 reason OFF:G2 verdict OFF:G2 x_median 21.875 9 numbers m 0.04626956779687475 x 19.29 spot 721.6 width 33 window P3 dte_cal 21 entry_cost_usd 5.3456187343801655 entry_tier_max 1 credit_over_width 0.06631404958677686
exit	Oct 9, 2026	—	buy	1	—	0.00	—	—	—	—	expiry	held to expiry	4 numbers settle_close 751.18 exit_cost_usd 1.3 exit_tier_max 4 settle_source daily_contract

Contract	Right	Strike	Expiry	Side	Qty	Entry	Exit	Facts
QQQ261009P00688000	put	688.00	Oct 9, 2026	short	1	3.242	0.00	4 numbers exit_tier 4 entry_tier 1 entry_source print_vwap entry_spread 0.0117296
QQQ261009P00655000	put	655.00	Oct 9, 2026	long	1	1.053636	0.00	4 numbers exit_tier 4 entry_tier 1 entry_source print_vwap entry_spread 0.040701909090909094

Settled at the underlying's last print that day: the official close was not loaded when the engine graded it.

variant: B1
risk_usd: 3081.163636363636
graded_at: 2026-10-09
n_touches: 4
policy_id: sb-1.0
structure: PS
max_loss_usd: 3081.163636363636
cost_over_credit: 0.030367981920148647

QQQ · S-B QQQ put spread, exploration

The trade

Result

Entry and exit

Legs

Notes