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Sandals & Spreads

Retail options journal: real trades, honest mistakes, strict rules.

Newsletter · By Sandals & Spreads · Official site

Indexed issues, last 90 days
2
Latest publication
Aug 18, 2026
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Aug 17, 2026
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Latest issues

  1. Issue · Aug 18, 2026

    Testing a Post Mortem format (opens the original)

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    Earlier this week, I tested for the first time a Process Card format with subscribers and made one promise:I would update it after the event, whether the trade worked or not.Home Depot reported a stronger quarter than I expected:Sales +5.7%Comparable sales +1.7%U.S. comparable sales +1.3%Comparable transactions -1.0%Average ticket +2.8%FY2026 guidance reaffirmed, not raisedThere is plenty to debate in the original thesis.Some parts of the original bearish thesis we

  2. Issue · Aug 17, 2026

    Testing a New Process Card Format (opens the original)

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    I am testing a new visual format with subscribers first.Home Depot is a familiar ticker in this journal, and this week it made it through the ticker side of the Sandals & Spreads process: thesis build, option structure, and execution rules.This is a process card, not a trade recommendation. The position is still open, and this card reflects the process as it stood before the event. Read it as a timestamped decision journal, not as an invitation to copy a setup.<p style="text-align

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