True edge is found knowing exactly which trade to execute whether the market moves up, down, or sideways.
~Joseph Cox
The S&P 500 exhibited extreme intraday volatility throughout the first week of March 2026, as traders struggled to price in the rapidly evolving conflict in Iran. After opening the week at 6,881.62, the index was defined by “stomach-churning” swings, at one point plunging 2.4% in a single session to hit a year-to-date low of 6,710.42 before staged afternoon recoveries pared some losses. This erratic behavior reflected a deep tug-of-war between panic-selling driven by geopolitical uncertainty and opportunistic buying following President Trump’s announcement of U.S. Navy escorts and insurance for oil tankers in the Strait of Hormuz.
Accompanying this turbulence was a dramatic spike in Wall Street’s “fear gauge,” the VIX, which surged as much as 23.7% in a single day to hit an intraday peak of 28.57—its highest level since October 2025. The index’s rise above the critical 27.5 threshold signaled a transition into a high-anxiety regime, with the VIX futures curve even briefly inverting as investors rushed to buy short-term protection against further downside. By the week’s end, the combination of a 2.03% drop in the S&P 500 and the persistent elevation of the VIX underscored a market that remains on edge, awaiting the next move in the Gulf.
📈 Weekly Performance Summary
The following table reflects realized profits from positions closed during the week. Net profit is calculated as the closing credit received minus the initial opening cost.
| Strategy | Opening Cost | Closing Credit | Net Profit | Return (RoR) | Days in Trade |
|---|---|---|---|---|---|
| 💎 SPX Double Calendar (6650 / 7000) | ($6,600.00) | $7,650.00 | +$1,050.00 | 15.91% | 6 |
| ⚖️ SPX Double Calendar (6820 / 7040) | ($7,000.00) | $7,000.00 | $0.00 | 0.00% | 7 |
| 💰 SPX Double Calendar (6790 / 7000) | ($7,280.00) | $8,040.00 | +$760.00 | 10.44% | 2 |
| 🚀 MRVL Jan ’26 50 Call (Roll-up) | ($6,110.00) | $7,560.00 | +$1,450.00 | 23.73% | 29 |
| 🛢️ Crude Oil (/CL) Spread | ($720.00) | $1,100.00 | +$380.00 | 52.78% | 1 |
| 💊 PFE Diagonal Roll (Mar / Apr) | ($40.00) | $250.00 | +$210.00 | 525.00%* | 28 |
| TOTALS | ($27,750.00) | $31,600.00 | +$3,850.00 | 13.87% | 12.2 Avg |
*Small capital base inflates percentage return.
📦 Active Inventory
Current open positions being carried into next week:
- SPX: 3x April 6th Double Calendars (6680/7000, 6625/7025, 6450/7075).
- NVDA: April 10th Diagonal (Long 180P/200C April, Short Mar 13).
- MRVL: Long Jan ’26 60 Calls / Short May 100 Calls.
- PFE: Long Jun ’26 25 Calls / Short April 27.5 Calls.
- ROKU: Long Jan ’26 60 Calls / Short April 102 Calls.
- LYFT: Short Mar 27 15 Calls.
📊 By The Numbers
- Weekly Win Rate: 100% (5 Wins, 1 Scratch)
- Total Realized Net: $3,850.00
- Strategic Move: The MRVL Strike Roll. Moved the 50 strike to 60, banking $1,450 in cash while keeping the 2026 upside.
- Capital Velocity: Recycled $25k+ in gross credits into new April inventory.
📝 Market Narrative
Theme: “Recycling the House Money”
This week was a masterclass in capital rotation. While the focus was on closing out the three heavy-hitting SPX Double Calendars for a combined net of $1,810, the real star was the MRVL roll-up. By taking advantage of the stock’s strength to move your long LEAP strike from 50 to 60, you effectively banked the gains while retaining 100% of the upside for the next two years. Even the scratch on the 6820/7040 SPX trade showed great discipline—exiting a tested position for exactly what you paid to preserve capital for the new April 6th cycle.
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