Current beta weighted risk is 3.8. against the SPX. Overall theta on futures is 72.44. SPX beta weighted risk ~$28,804. All else being equal, this represents $2,173.40 every 30 days due to theta decay~7.5% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($24,921.08). The attached graph shows the current stress test with losses beginning at /ES price of $5,585 and $8,300 by 6/26/2026.

Current beta weighted risk is 2.83. against the SPX. Overall theta on futures is 78.87. SPX beta weighted risk ~$21,149. All else being equal, this represents $2,366.10 every 30 days due to theta decay~11.2% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($24,903.64). The attached graph shows the current stress test with losses beginning at /ES price of $5,435 and $8,115 by 6/19/2026.

Current beta weighted risk is 3.26 against the SPX. Overall theta on futures is 83.81. SPX beta weighted risk ~$24,078. All else being equal, this represents $2,514.30 every 30 days due to theta decay~10.4% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($26,069.07). The attached graph shows the current stress test with losses beginning at /ES price of $5,834 and $8,346. PAYC back ratio spread continues to be an ongoing play.

Current beta weighted risk is 2.75 against the SPX. Overall theta on futures is 83.48. SPX beta weighted risk ~$20,347. All else being equal, this represents $2,504.40 every 30 days due to theta decay~12.3% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($21,591.52). The attached graph shows the current stress test with losses beginning at /ES price of $6,118 and $8,205.

Current beta weighted risk is 3.03 against the SPX. Overall theta on futures is 79.14. SPX beta weighted risk ~$21,907.26. All else being equal, this represents $2,374.20 every 30 days due to theta decay~10.8% monthly. Beta weighted portfolio value has returned to a close to the current futures balance ($17,974.70). The attached graph shows the current stress test with losses beginning at /ES price of $6,021 and $8,333.