How to Track SPX Credit Spreads: Income & Performance

SPX credit spreads offer defined risk, margin efficiency, and daily/weekly premium. But tracking them requires different metrics than CSPs or covered calls.

What to Track

Spread width, credit, expiry, distance from price, max loss, result, return on risk.

Key Metrics

Win rate: Need 90%+ when risking $500 to make $50. Credit vs loss ratio: Win rate alone is misleading. Cumulative P&L: Steady up with occasional drawdowns = healthy.

Position Sizing

Max 2-3% risk per trade. $25K account = one or two $5-wide spreads. Most common mistake: too many contracts.

With the Wheel

Use wheel for core income, SPX spreads as secondary. Anima Options tracks both in one dashboard.