Current beta weighted risk is 5.8 against the SPX. Overall theta on S&P futures is 73.2. SPX beta weighted risk ~$45,157. All else being equal, this represents $2,196 every 30 days due to theta decay ~4.9% monthly. Beta weighted portfolio value is approximately 1.5x the futures balance ($27,332). The attached graph shows the current stress test with losses beginning at /MES price of $6,024 and $8,789 by 9/19/2026. Opened a position in Zoetis (ZTS) as this company appears to be underpriced in my opinion. Also trimmed exposure to Schwab (SCHW) by removing the short leg of that synthetic due to the recent run up, current exposure to Schwab is $1,345. Missed the increased return from the recent Paycom (PAYC) jump in price, kicking myself for not holding a position there. Readers can see the major positions held by my account in the classroom section under trading journal.

Current beta weighted risk is 4.7 against the SPX. Overall theta on S&P futures is 67.82. SPX beta weighted risk ~$35,198. All else being equal, this represents $2,035 every 30 days due to theta decay ~5.8% monthly. Beta weighted portfolio value is approximately 2x the futures balance ($17,539). The attached graph shows the current stress test with losses beginning at /MES price of $6,043 and $8,490 by 8/22/2026. Approximately 2.6% of the portfolio is long micro oil futures as a hedge against Iran war escalation through /MCL futures options. Last week's position was adjusted to reflect the drop in oil futures this week when it appeared that the Iran war would stabilize again. Readers can see the major positions held by my account in the classroom section under trading journal. Annual update: after one full year of tracking since July of 2025, account value growth (loss) not including deposited funds is $13,518 for an annualized return of just over 31%.

Current beta weighted risk is 5.4 against the SPX. Overall theta on S&P futures is 102.3. SPX beta weighted risk ~$40,024. All else being equal, this represents $3,069 every 30 days due to theta decay ~7.7% monthly. Beta weighted portfolio value is over 2x the futures value ($17,479). The attached graph shows the current stress test with losses beginning at /ES price of $6,142 and $8,765 by 8/22/2026. Approximately 1.6% of the portfolio is long micro oil futures as a hedge against Iran war escalation through /MCL futures options. Readers can see the major positions held by my account in the classroom section under trading journal. Removed some of the risk on /ES futures by purchasing an offsetting option for the open leg for three of the back ratios on the put side. All three purchases locked in profits as enough time decay has occurred to allow their purchase to be financed by the original trade.

Current beta weighted risk is 3.8. against the SPX. Overall theta on futures is 64.57. SPX beta weighted risk ~$28,055. All else being equal, this represents $1,937.10 every 30 days due to theta decay~6.9% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($24,475.96). The attached graph shows the current stress test with losses beginning at /ES price of $5,560 and $8,375 by 6/19/2026.

Current beta weighted risk is 3.23 against the SPX. Overall theta on futures is 99.64. SPX beta weighted risk ~$23,017.17. All else being equal, this represents $2,989.20 every 30 days due to theta decay~13.0% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($24,758.93). The attached graph shows the current stress test with losses beginning at /ES price of $6,482.25.