Our Working Orders Are Waiting Below the Market

Real put-ladder trades we’ve placed in advance — and the capital rules behind them

Hello everyone,

I want to give some context around the working orders you may see sitting below the market today.

These are not market orders and they are not predictions. They are resting limit orders, placed well below current prices, only in case we see a sharp selloff.

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What these orders are

I am currently selling a put ladder:

• Multiple strike prices

• Multiple expiration dates

• All placed below the current market

This approach allows me to:

• Step into downside only if price comes to me

• Spread entry risk across time and levels

• Avoid concentrating exposure at a single strike or expiration

If the market never trades there, nothing happens.
If volatility expands and price drops, the orders fill at levels I’m comfortable owning risk.

Here are our current working orders: