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Does Layered Options ever trade put spreads in a falling market?

Layered OptionsLast updated October 27, 2026
Quick answerNo. Every trade is a call debit spread on the strongest of the four ETFs, the rule the team has followed since January 2025. In a falling market it is still the strongest of SPY, QQQ, IWM and DIA that week.
The details
  • Always: a call spread, bought (a debit).
  • Which ETF: the one that rose most (or fell least) of the four over the last 5 trading days.
  • Defined risk: the debit is the most a trade can lose, in any market (the GTC target).
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