Current BoxTrades.com Rates
This page has nothing to do with leveraged ETF strategies. It is just useful info.
A short SPX box spread lets you borrow cash through options: receive cash today, repay a fixed amount at expiration. This page shows Boxtrades.com rates for SPX boxes expiring in more than 1 year, converted to APY.
The Finance Buff explains the margin-loan comparison, Fidelity mechanics, and risks.
Smaller trades may fill at worse rates. Size-adjusted estimates use recent SPX trades; current penalty is +0.0 bps for each 10x smaller total trade size, using 3,514 observations. $50K and $200K mean cash received today, and include estimated Fidelity four-leg SPX cost of $4.60.
| SPX expiry | Loan length | APY | Est. APY @ $50K | Est. APY @ $200K | Days to expiry | Boxtrades yield |
|---|---|---|---|---|---|---|
| 2027-09-17 | 1.1y | 4.67% | 4.68% | 4.67% | 392d | 4.68% |
| 2027-12-17 | 1.3y | 4.71% | 4.71% | 4.71% | 483d | 4.74% |
| 2029-12-21 | 3.3y | 4.79% | 4.79% | 4.79% | 1218d | 5.06% |
| 2030-12-20 | 4.3y | 4.85% | 4.85% | 4.85% | 1582d | 5.25% |
Boxtrades data as of Aug 20, 2026.