Weekly Bull Put Spread on AAPL (Apple Inc.) — Alpaca Paper Account P&L, Risk Metrics & Trade Analytics

● Paper Trading 🐂 Bullish / Net-Credit 📊 Performance Report 📈 Backtests

📡 Strategy Overview

This strategy runs a weekly Bull Put Spread on AAPL (Apple Inc.) via the Alpaca paper-trading API. The spread is a net-credit, defined-risk options strategy with a bullish directional bias. Premium is collected up-front; the trade is profitable if AAPL stays above the short put strike at expiry.

The spread is opened every Monday morning (9:40 ET) and closed every Thursday afternoon (15:45 ET), targeting the following Friday's weekly expiry. Because the Np2 account runs multiple strategies on different underlyings, all performance metrics on this page are computed exclusively from AAPL option legs (OCC symbols matching AAPL[date][P][strike]).

Spread Construction

Position Side Strike Premium
Short put Sell to open price × 0.98 → nearest $5 COLLECT (higher strike, ATM-side)
Long put Buy to open price × 0.95 → nearest $5 PAY (lower strike, hedge)
Net Credit sell premium − buy premium

⚠️ Options Permission Requirements (Alpaca)

This strategy requires Level 3 (Spreads) options approval on each Alpaca account. Level 3 allows multi-leg defined-risk spreads (iron butterflies, iron condors, verticals, etc.). Accounts must also be margin-enabled.

Apply via: Alpaca Dashboard → Account → Trading → Options Trading → Level 3.