168: SPX Levels, Weekly Trade Setups & a Profitable LEAP Strategy

Stock Market Options Trading

In this episode, Eric and Brian kick off the week with a look at the SPX options market, recent price action, and key gamma levels heading into FOMC week. Eric recaps his recent put credit spread trades from Alpha Crunching, discusses how he’s managing new positions into record highs, and explains how he’s balancing bullish exposure with call credit spreads and discretionary hedges. The conversation also covers upcoming events—including major tech earnings from Apple, Microsoft, and Google—and how they might influence market sentiment.

Brian shares a practical example of a LEAPS diagonal trade on AVGO that’s been profitable even without much price movement, illustrating how selling weekly calls can generate consistent income against a long-dated call. The two also discuss covered call timing, hedging approaches, and using instruments like SSO to gain leveraged exposure with less capital.

🎧 Whether you’re trading SPX spreads or building income strategies with diagonals and covered calls, this episode offers a mix of mechanical systems and discretionary risk management ideas you can apply right away.

👉 Join the next live session at stockmarketoptionstrading.net or inside the Alpha Crunching Discord.