Grow Your Pile | Market Update — October 8, 2026
Hello GYP Members,
As you may have noticed, we are experiencing a market selloff today, which is beginning to create some interesting opportunities for premium sellers.
We will not be placing any new trades in our GYP portfolios today, as Tony Battista and I are focused on this afternoon’s exciting AutoTrading launch.
However, I wanted to share a few thoughts for those of you who have been patiently sitting on cash and waiting for an opportunity to put some capital back to work.
Time to Consider a Small Put Ladder?
As we’ve discussed many times during Office Hours, I prefer selling puts when the market gives us a pullback rather than chasing stocks higher after a prolonged rally.
For members who have available buying power and are comfortable adding some positive Delta, I would not be opposed to starting or rebuilding a small put ladder using:
/MES (Micro E-mini S&P 500 Futures): A flexible way to establish smaller positions and gradually build exposure.
SPY: One of my preferred vehicles for selling puts and managing a ladder over time.
QQQ: Another interesting alternative, particularly for those comfortable with the additional volatility and technology exposure.
IWM is not my favorite right now, so personally, I would lean toward /MES, SPY, or QQQ.
Start Small — There’s No Need to Rush
The important word here is SMALL.
We don’t know whether today’s decline is the beginning of a larger correction or simply another short-lived pullback.
That’s exactly why I like laddering.
Rather than committing all our buying power at once, we can establish a small initial position and leave plenty of dry powder available if the market continues to decline and volatility expands further.
Remember, the objective is not to catch the bottom. It’s to collect attractive premium while managing our overall portfolio risk.
If we get additional selling pressure, we may have opportunities to add more rungs to the ladder at different strikes and expirations.
And if the market rebounds? That’s fine too. We don’t need to participate in every move.
Patience Is Still a Strategy
I’ve said this many times: there is absolutely nothing wrong with holding cash when opportunities are limited.
In fact, that’s one of the reasons we’ve been keeping buying power available.
Today’s selloff may be an opportunity to begin putting a little of that capital back to work, but there is no urgency to do so.
Keep your Delta, Theta, buying power, and overall portfolio exposure in mind.
Trade small, stay flexible, and keep plenty of dry powder.
Looking forward to seeing everyone at our AutoTrading launch this afternoon!
Tony R & Tony B
Grow Your Pile
Important Risk Disclosure
This commentary is provided solely for educational and informational purposes and reflects general market observations, not personalized investment advice or specific trade recommendations.
References to /MES, SPY, QQQ, IWM, put ladders, or any other securities or strategies are not recommendations or solicitations to buy, sell, or enter into any particular position.
Options and futures trading involve substantial risk, including the possibility of significant losses. Selling uncovered puts can result in substantial downside exposure, and futures options may involve leverage and margin requirements that can change rapidly during volatile markets.
Each investor must independently evaluate whether any strategy is appropriate based on their financial situation, investment objectives, experience, and risk tolerance.
Grow Your Pile, Tony Rihan, and Tony Battista do not guarantee trading outcomes or future performance. Nothing in this commentary should be interpreted as individualized financial, investment, tax, or legal advice.
All trading decisions and associated risks remain the responsibility of the individual investor.