Using the Bull Put Spread and Short Strangle only, devise one-day positions, which if replicated for 250 trading days, would earn between 75% and 150% annually. If the client has $2M. Calculate the FV in one year compounded daily on 250 trading days

Q $SPX S&P 500 ($SPX): $4,718.58 Last Trade: 10:22:09 AM ET, 12/15/2023 Bid / Size -/- Day Change -0.97 (-0.02%) C Refresh Ask / Size -/- Day Volume See Chart Calls Showing 173 of 173 Puts Menu Build Bid Ask IV Delta Gamma Theta Vega Strike Bid Ask IV Delta Gamma Theta Vega Build Menu More Select 131.30 137.10 0.0000 1.0000 More Select 126.40 132.10 0.0000 1.0000 0.0000 0.0000 0.0000 0.0000 4,585.00 0.30 0.35 12.7867 -0.0145 0.0006 -0.2806 0.1817 Select More 0.0000 0.0000 4,590.00 0.30 0.35 12.3735 -0.0149 0.0006 -0.2782 0.1864 Select More More Select 121.40 127.10 0.0000 1.0000 0.0000 0.0000 0.0000 4,595.00 0.30 0.35 11.9591 -0.0154 0.0007 -0.2756 0.1914 Select More More Select 116.50 122.20 0.0000 1.0000 0.0000 0.0000 0.0000 4,600.00 0.30 0.40 11.6673 -0.0168 0.0007 -0.2896 0.2064 Select More More Select 111.50 117.20 0.0000 1.0000 0.0000 0.0000 0.0000 4,605.00 0.35 0.40 11.3618 -0.0183 0.0008 -0.3029 0.2220 Select More More Select 109.00 109.80 0.0000 1.0000 0.0000 0.0000 0.0000 4,610.00 0.35 0.40 10.9363 -0.0190 0.0009 -0.2996 0.2286 Select More More Select 101.50 107.20 0.0000 1.0000 0.0000 0.0000 0.0000 4,615.00 0.35 0.40 10.5091 -0.0196 0.0009 -0.2961 0.2356 Select More More Select 96.50 102.20 0.0000 1.0000 0.0000 0.0000 0.0000 4,620.00 0.35 0.45 10.1808 -0.0214 0.0010 -0.3078 0.2533 Select More More Select 91.60 97.20 0.0000 1.0000 0.0000 0.0000 0.0000 4,625.00 0.40 0.45 9.8403 -0.0233 0.0011 -0.3186 0.2719 Select More More Select 86.50 92.30 0.0000 1.0000 0.0000 0.0000 0.0000 4,630.00 0.40 0.50 9.4880 -0.0253 0.0013 -0.3285 0.2915 Select More More Select 81.70 87.30 0.0000 1.0000 0.0000 0.0000 0.0000 4,635.00 0.45 0.50 9.1244 -0.0275 0.0014 -0.3375 0.3122 Select More More Select 76.70 82.40 0.0000 1.0000 0.0000 0.0000 0.0000 4,640.00 0.50 0.55 8.8234 -0.0309 0.0016 -0.3587 0.3442 Select More More Select 71.80 77.40 0.0000 1.0000 0.0000 0.0000 0.0000 4,645.00 0.55 0.65 8.5656 -0.0356 0.0019 -0.3905 0.3873 Select More More Select 66.90 72.20 0.0000 1.0000 0.0000 0.0000 0.0000 4,650.00 0.65 0.75 8.3318 -0.0417 0.0022 -0.4305 0.4406 Select More More Select 64.20 65.40 0.0000 1.0000 0.0000 0.0000 0.0000 4,655.00 0.80 0.85 8.1070 -0.0493 0.0025 -0.4768 0.5034 Select More More Select 59.70 60.40 0.0000 1.0000 0.0000 0.0000 0.0000 4,660.00 0.95 1.05 7.9224 -0.0593 0.0030 -0.5370 More Select 54.60 55.60 0.0000 1.0000 0.0000 0.0000 0.0000 4,665.00 1.20 1.30 7.7894 -0.0727 0.0036 -0.6156 0.5828 Select More 0.6828 Select More