What This Is
The Trading Journal is a public record of a real options trader's day-to-day work. Every entry includes the instrument traded, strike, expiration, premium paid, target, stop, the reasoning behind the entry, and the actual outcome. Wins and losses are both on the record.
What It Focuses On
The core book is built around the S&P 500 (SPX) and the S&P 500 mini options (XSP), with selective exposure to sector ETFs (XLK, XLF, XLE, XLV, XLY, XLP, XLI, XLU, XLB, XLRE, XLC) when relative-value opportunities arise. The primary instrument is options spreads — vertical credit spreads, debit spreads, iron condors, calendars, and diagonals — chosen for defined risk, positive expected value, and time decay favorable to the position.
What You Will Find Here
- The trade log. Daily entries with the structure of every position, the entry reasoning, and the P&L at close.
- The playbook. The standard operating procedure that defines how trades are sized, entered, managed, and exited. The rules that govern every position.
- Education. Conceptual pieces on risk vs reward, market probabilities, standard deviations, expected value, and the math that drives the strategy.
- Strategies. Walk-throughs of the spread structures that form the core of the book, with entry criteria, adjustment rules, and known failure modes.
- Tools. The platforms and calculators used to evaluate trades — including OptionsStrat for visualizing risk/reward and probability of profit across strikes and expirations.
What This Is Not
This is not investment advice. It is not a recommendation to buy, sell, or hold any security. It is not a signal service. The trades recorded here reflect one trader's analysis and risk tolerance. Your situation, risk tolerance, and capital are different. See the full disclaimer.
How the Site Makes Money
Two ways, both disclosed:
- Affiliate links. Some tool and platform links on this site are affiliate links. If you sign up or purchase through them, The Trading Journal may earn a commission at no cost to you. The most prominent is OptionsStrat, used throughout the playbook and strategy articles.
- Advertising. Display advertising via Google AdSense appears on article and index pages.
Editorial content is not influenced by monetization. The trades, lessons, and methodology are recorded independently of the affiliate relationships.