A SPY straddle held for all of 2025
Recorded in cvforge on July 2, 2026 by ConvexValue · Published July 25, 2026
One trade specified to the day: buy the December 2025 ATM straddle on the first session of the year, hold to expiration, and see what it did.
Exact prompt
I want to visualize what was the performance of the following $SPY trade: on the first day of 2025 I buy the december 2025 monthly expiration atm straddle and hold it until expiration.
Data cadence
Live U.S. option snapshots, refreshed through the session. Open interest is an end-of-previous-day figure and updates once daily.
Plan requirements
Needs the Research data plan, which adds end-of-day historical options aggregates. The rest of the build runs on the free tier.
Fields used
fair_market_value, strike_price, expiration_date, contract_type, delta, implied_volatility, open_interest, day_volume
How to read it
Holding a long straddle for a full year is close to a pure test of one question: did the index move more than its options were priced for? Everything else washes out over twelve months.
The usual answer for an index is no — long-dated index volatility tends to be priced above what gets delivered, which is the volatility risk premium seen from the buyer’s side. One year is one observation, and this build is the way to check any particular one rather than assume it.
Change it
The prompt is the interface. Ask for a different ticker, a different expiration window, or an extra column in the same sentence style and the agent edits the app in place — you do not start over, and you do not wait for anyone to build it.
Limitations
- Snapshot data, not a transaction tape: the build reads the chain as it stands, so it cannot attribute a trade to a buyer or a seller.
- Open interest updates once a day, so an intraday volume/OI comparison is always this session’s volume against yesterday’s open interest.
- Contract coverage is U.S. listed equities, ETFs and indices. Indices use the I: prefix, for example I:SPX.
- Current per-contract valuation is Massive fair market value (FMV), a proprietary estimate. cvforge does not provide option bids, asks, midpoint, quote sizes, NBBO or last trades, and FMV is not an executable quote.
- Rankings are arithmetic on Massive fair market value estimates, not advice. FMV is not an executable price, and nothing here accounts for your account, margin, assignment risk or taxes.
- Multi-leg structures are valued leg by leg using FMV estimates. cvforge has no option quote or last-trade data with which to model fills or transaction costs.
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Search focus: straddle held to expiration full year. Related: spy annual straddle study, buy and hold straddle result. Originally posted on X.