(W5) A14 Strategy – Target Profit $119

📋 A Friday entry, documented on Monday

On Friday, October 2, I opened the fifth live campaign of my A14 Strategy.

I was away from my computer but followed the strategy and entered with a market order. Today, Monday, October 5, I’m documenting that entry.

The system’s reference was 0.80 debit per butterfly at 10:30 a.m. ET. My actual fill at 10:37 was 1.88 debit. These prices come from different moments, so the difference alone does not measure MKT slippage.

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This Week’s Trade

Opened: Friday, October 2, 2026, at 10:37 a.m. ET
Underlying: SPX
Expiration: Friday, October 16, 2026
Structure: Put Broken Wing Butterfly, 40/50
Quantity: 2 butterflies

Buy: 2 × 7,750 PUT @ 67.40
Sell: 4 × 7,710 PUT @ 51.71
Buy: 2 × 7,660 PUT @ 37.90

Net debit: $376
Commission: $10.24
Modeled starting risk: $2,376
Target net profit: $118.80

The target is 5% of the starting risk, with profit measured after commissions.

At calculation time, SPX was 7,748.83. The standard 40/60 shape failed the delta limit. The system selected 40/50 from three eligible candidates: it passed all six required conditions and had the lowest score, with nearly flat positive delta, positive theta, and negative vega.

The wider lower wing leaves more downside risk than upside risk at expiration.

👉 View the position on OptionStrat

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Management Plan

The campaign is reviewed each trading day at 3:30 p.m. New York time.

The opening management levels are 7,750 on the upside and 7,720 on the downside. At a review, SPX above the upper level or at or below the lower level can call for a put-calendar adjustment under the strategy’s rules.

Friday’s first review recorded SPX at 7,723.05. Neither adjustment condition was met, so the decision was No action.

The net profit target remains $118.80. Defensive and time-based exit rules also apply; the plan is to close before expiration.

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Follow the Campaign

I will document actual adjustments, fills, and commissions in the comments. The recorded position and reviews are available here:

👉 Follow A14 Campaign W5

A separate closing article will cover the final result and management decisions.

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Disclaimer

All content is for informational purposes only and does not constitute financial advice. This is a personal trading journal, not a trade-alert service. Options involve substantial risk, and SPX contracts can produce large and rapid changes in value. Any strategy should be tested in a simulated environment before real capital is used. All trading decisions remain the sole responsibility of the reader.