Expiration week of 21Oct22. This is a monthly expiration week (as well as weekly, of course), so I did something new and chose from my Barchart watchlist of ETFs with only monthly options. As usual, I used the 1-month Performance Chart View, the one that gives a bar chart of performance, best to worst. To give you an idea of the symbols I screened from, top of that list were KOLD and DRV, which offered 1% strikes above where I …
Expiration week 21Oct2022. Of the 5 trades in the Week 4 CSPs, NONE were assigned to add to this list. And of the 6 assigned stock positions I was working CCs on last week, one was called away (at a loss), and one I sold the shares at a profit, so I’m carrying over four of those. JNUG Week 2 as a CC. CB 24.95. Spot 23.23 at Fri close. The 34Δ 21Oct25C at 0.72 is loaded for Monday. Mon …
In weekly posts I’ve been tracking my CSP trades, and then if they got assigned I was tracking them as CCs until the shares were called away or sold, closing out the trade at a profit. Those are very detailed and go into why I picked certain tickers, why I sold specific Puts or Calls, etc. But now I want just an overview page where I can see how all those trades have done over time. Very simple, just tickers, …
Of the 5 trades in the Week 3 CSPs, one was assigned, JNUG, so it goes on the CCs list. And of the 7 assigned stock positions I was working CCs on last week, 2 were called away at a profit, so I’m carrying over five of those. DUST Carries over with CB 26.12 and the 27Δ 14Oct24C open, which sold for 0.50. Fri close: 27.29, so the shares got called away at 24 and I lost money. After accounting …
Expiration week of 14Oct22. Over the weekend I read a Reddit post where for monthlies or longer they use the TastyTrade 50%-of-max-profit criteria for closing trades, but for weeklies they use 70-80%. I’d been thinking along the same lines, so that made sense to me, and going forward I’ll use 75% take-profit BTC orders. For this week I didn’t focus on inverse ETF pairs, but 4 of the 5 new trades ended up being those anyway. I sorted my Barchart …
Of the 5 trades in the Week 2 CSPs, one was assigned, DUST, so it goes on the CCs list. And of the 7 assigned stock positions I was working CCs on last week, only 1 was called away at a profit, so I’m carrying over six of those. DUST Assigned at 27, and had collected only 0.47 in net premiums, so CB 26.53. Friday close: 24.72 Sunday trade setup: the 07Oct26.5C at 31Δ for 0.57 mid would give a …
Expiration week of 14Oct22. I’ve known about Bull/Bear or Inverse ETF pairs for a while now, as they’re almost always leveraged, which makes them show up in my scans frequently because their prices move a lot. I started a post on them here, and much earlier I’d had a crazy idea about using them for Covered Calls, but that didn’t work out. I’m still noodling on them, but I think I like them for for making the decision to bet …
I’m drawn to these for some reason, maybe it’s the mirror-image symmetry: When one is up, the other is down. When that one is down, the other is up. Pretty, isn’t it? You can see that these are the ETFs YINN & YANG. Appropriate example, right? They try to mimic the behavior of the largest 50 companies on the Hong Kong stock exchange. YINN as a “bull” fund, YANG as the inverse “bear” fund. Both are 3x leveraged. This is …
In the last Covered Calls post I set up trades on the 7 stocks that were assigned to me in Week 1 of selling Cash Secured Puts. I had done a series of 7 CSPs on best-performing ETFs with weekly options based on the previous 5-day performance. Those did well, and none were assigned. Then as a kind of silly experiment I did CSPs on the 7 worst-performing ETFs over the previous 5 days. Those did terribly (duh) and all …
Opened 5 CSPs this week for 30SEp22 expiration , which I’ll update each day as things happen: DUST LABD SOXS TBT UVIX UVIX in real-money account Notice that the real-money account did slightly better than the Paper Money account, with similar trades at similar times. Average for the week: -7% + 1.9 + 1.7 + 1.4 + 3.9 = 1.9 / 5 = +0.38% per trade for the week. Not bad, still simple-annualizes to a 19% per year return, but …