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Options 1k

How I lost $1,383 in August 2025 trading options

Absolutely terrible month.

It was almost the exact opposite of last month.

The first couple weeks were good/profitable, then everything just collapsed in the 2nd half of the month.

Some of it was my own mistakes (i.e. trading on FOMC day when I wasn't planning to; manually screwing up entries/exits), but some of it was just my strategies not working.

Sigh.

Here are the trade breakdowns for August 2025:

August 2025 Closed Trades #

Non 0DTE Trades #

Ticker Type Entry Date Expiry Date Sell Strike Buy Strike Premium Open Qty Fee open Net Premium Close Date Close Cost Close Qty Fee close Profit/Loss
COST BPS 2025-05-21 2025-08-15 915 905 1.25 1 1.42 123.58 2025-08-06 -0.55 1 1.41 67.17
PG BPS 2025-05-21 2025-08-15 150 145 0.52 2 1.48 102.52 2025-08-11 -0.2 2 1.11 61.41
SPY BCS 2025-06-18 2025-08-01 603 605 1.14 1 1.42 112.58 2025-08-01 -2 1 0 -87.42
IWM BCS 2025-06-18 2025-08-01 212 213 0.5 1 1.42 48.58 2025-08-01 -1 1 0 -51.42
QQQ BCS 2025-06-18 2025-08-01 540 542 0.99 1 1.42 97.58 2025-08-01 -2 1 0 -102.42
SPY BCS 2025-06-25 2025-08-01 613 615 1.03 1 1.42 101.58 2025-08-01 -2 1 0 -98.42
SPY BCS 2025-06-26 2025-08-08 617.5 619 0.76 1 1.42 74.58 2025-08-08 -1.5 1 0 -75.42
QQQ BCS 2025-06-30 2025-08-08 554 555 0.53 1 2.12 50.88 2025-08-08 -1 1 0 -49.12
SPY BCS 2025-07-08 2025-08-22 627 629 1.04 1 1.41 102.59 2025-08-22 -2 1 0 -97.41
T Short Put 2025-07-10 2025-07-18 27 0 0.11 1 1.06 9.94 2025-08-08 -27 1 0 -2690.06
SPY BCS 2025-07-11 2025-08-29 630 632 1.06 1 2.12 103.88 2025-08-29 -2 1 0 -96.12
QQQ BCS 2025-07-15 2025-08-29 565 567 1.01 1 2.12 98.88 2025-08-29 -2 1 0 -101.12
TLT BPS (IC) 2025-07-15 2025-08-29 80 75 0.26 1 2.11 23.89 2025-08-12 -0.03 1 3.04 17.85
TLT BCS (IC) 2025-07-15 2025-08-29 90 95 0.22 1 2.11 19.89 2025-08-12 -0.11 1 3.04 5.85
IWM BPS (IC) 2025-07-17 2025-08-29 200 195 0.32 1 1.41 30.59 2025-08-08 -0.18 1 1.4 11.19
IWM BCS (IC) 2025-07-17 2025-08-29 245 250 0.35 1 1.41 33.59 2025-08-08 -0.07 1 1.4 25.19
T Covered Call 2025-07-21 2025-07-25 28 0 0.31 1 1.46 29.54 2025-08-08 0 1 0 29.54
SPY BPS 2025-07-28 2025-09-19 601 596 0.47 1 2.51 44.49 2025-08-22 -0.2 1 2.11 22.38
SPY Put Calendar (short) 2025-07-30 2025-08-08 623 0 2.63 1 0.7 262.3 2025-08-06 -0.52 1 1.54 208.76
SPY Put Calendar (long) 2025-07-30 2025-08-11 0 623 -2.93 1 0.71 -293.71 2025-08-06 0.92 1 1.54 -203.25
SPY Call Calendar (Short leg) 2025-07-30 2025-08-08 645 0 0.9 1 0.7 89.3 2025-08-06 -0.04 1 1.54 83.76
SPY Call Calendar (Long leg) 2025-07-30 2025-08-11 0 645 -1.12 1 0.71 -112.71 2025-08-06 0.09 1 1.54 -105.25
T Covered Call 2025-08-01 2025-08-08 28 0 0.24 1 1.05 22.95 2025-08-08 28 1 0 2822.95
SPY BWB – Bull Put 2025-08-01 2025-08-22 609 601 1.37 1 1.4 135.6 2025-08-07 -0.42 1 1.95 91.6500000000001
SPY BWB – Bear Put 2025-08-01 2025-08-22 609 613 -0.89 1 0.71 -89.71 2025-08-07 0.28 1 1.95 -63.66
SPY BWB – Bull Put 2025-08-08 2025-08-29 625 619 1.01 1 2.735 98.265 2025-08-19 -0.37 1 1.76 59.505
SPY BWB – Bear Put 2025-08-08 2025-08-29 625 628 -0.65 1 2.735 -67.735 2025-08-19 0.27 1 1.76 -42.495
SPY BPS 2025-08-11 2025-09-26 605 600 0.51 1 1.41 49.59 2025-08-28 -0.2 1 0 29.59
QQQ BCS 2025-08-13 2025-09-19 583 585 1.08 1 1.99 106.01 2025-08-20 -0.47 1 0 59.01
SPY Put Calendar (short) 2025-08-21 2025-08-29 625 0 1.92 1 1.54 190.46 2025-08-28 -0.05 1 1.05 184.41
SPY Put Calendar (long) 2025-08-21 2025-09-03 0 625 -2.5 1 1.54 -251.54 2025-08-28 0.14 1 1.05 -238.59
SPY Call Calendar (Short leg) 2025-08-21 2025-08-29 650 0 0.82 1 1.54 80.46 2025-08-28 -0.51 1 1.05 28.41
SPY Call Calendar (Long leg) 2025-08-21 2025-09-03 0 650 -1.24 1 1.54 -125.54 2025-08-28 1.24 1 1.05 -2.59000000000001
TOTAL -296.14
Total trades 33

Once again, most of the losses came from Option Alpha Trade Ideas strategy.

Without it, my non-0DTE trades, would've actually been profitable overall.

One issue is that it keeps giving me bearish positions, but the market just keeps going up. In a bear market, it would be doing really well I suppose.

0DTE + 1DTE Trades #

Ticker Type Entry Date Expiry Date Sell Strike Buy Strike Premium Open Qty Fee open Net Premium Close Date Close Cost Close Qty Fee close Profit/Loss
SPX BPS (IF) 2025-08-01 2025-08-04 6260 6250 4.3 1 3.29 426.71 2025-08-04 0 1 0 426.71
SPX BCS (IF) 2025-08-01 2025-08-04 6260 6265 2.65 1 3.29 261.71 2025-08-04 -5 1 0 -238.29
SPX BPS 2025-08-01 2025-08-01 6200 6130 0.85 1 3.2 81.8 2025-08-01 -1.75 1 3.4 -96.6
SPX BCS 2025-08-01 2025-08-01 6265 6335 0.95 1 3.2 91.8 2025-08-01 -2 1 3.4 -111.6
SPX BPS 2025-08-01 2025-08-01 6205 6150 0.9 1 3.11 86.89 2025-08-01 0 1 3.4 83.49
SPX BPS (IC) 2025-08-01 2025-08-01 6225 6220 1.14 1 3.28 110.72 2025-08-01 0 1 0 110.72
SPX BCS (IC) 2025-08-01 2025-08-01 6250 6255 0.76 1 3.28 72.72 2025-08-01 0 1 0 72.72
SPX BCS 2025-08-01 2025-08-01 6235 6240 2.3 1 3.49 226.51 2025-08-01 -3.01 1 0 -74.49
SPX BPS 2025-08-04 2025-08-04 6260 6185 0.9 1 3.2 86.8 2025-08-04 0 1 0 86.8
SPX BPS 2025-08-04 2025-08-04 6280 6210 1.1 1 3.2 106.8 2025-08-04 0 1 0 106.8
SPX BPS 2025-08-04 2025-08-04 6295 6225 0.95 1 3.2 91.8 2025-08-04 0 1 0 91.8
SPX BPS (IC) 2025-08-04 2025-08-04 6310 6305 0.77 1 3.28 73.72 2025-08-04 0 1 0 73.72
SPX BCS (IC) 2025-08-04 2025-08-04 6325 6330 1.28 1 3.28 124.72 2025-08-04 -4.94 1 0 -369.28
SPX BCS 2025-08-05 2025-08-05 6335 6395 0.9 1 3.2 86.8 2025-08-05 0 1 0 86.8
SPX BCS 2025-08-05 2025-08-05 6325 6330 0.6 1 3.49 56.51 2025-08-05 0 1 0 56.51
SPX BPS (IC) 2025-08-05 2025-08-05 6275 6270 0.72 1 3.28 68.72 2025-08-05 0 1 0 68.72
SPX BCS (IC) 2025-08-05 2025-08-05 6325 6330 0.58 1 3.28 54.72 2025-08-05 0 1 0 54.72
SPX BCS 2025-08-05 2025-08-05 6325 6365 1.2 1 3.2 116.8 2025-08-05 -2.9 1 3.4 -176.6
SPX BPS 2025-08-05 2025-08-05 6305 6255 1.2 1 3.2 116.8 2025-08-05 -2.45 1 3.4 -131.6
SPX BPS 2025-08-06 2025-08-06 6310 6240 1 1 3.2 96.8 2025-08-06 0 1 0 96.8
SPX BPS 2025-08-06 2025-08-06 6335 6295 1.2 1 3.2 116.8 2025-08-06 0 1 0 116.8
SPX BPS 2025-08-06 2025-08-06 6340 6290 1.15 1 3.2 111.8 2025-08-06 0 1 0 111.8
SPX BPS (IC) 2025-08-06 2025-08-07 6330 6325 1.08 1 3.28 104.72 2025-08-07 0 1 0 104.72
SPX BCS (IC) 2025-08-06 2025-08-07 6365 6370 1.77 1 3.28 173.72 2025-08-07 0 1 0 173.72
SPX BCS 2025-08-07 2025-08-07 6365 6405 1.2 1 3.2 116.8 2025-08-07 0 1 0 116.8
SPX BPS 2025-08-07 2025-08-07 6300 6240 1 1 3.2 96.8 2025-08-07 -2.05 1 3.4 -111.6
SPX BPS (IF) 2025-08-08 2025-08-11 6390 6380 4.5 1 3.29 446.71 2025-08-11 -10 1 0 -553.29
SPX BCS (IF) 2025-08-08 2025-08-11 6390 6395 2.4 1 3.29 236.71 2025-08-11 0 1 0 236.71
SPX BPS 2025-08-08 2025-08-08 6340 6265 0.85 1 3.2 81.8 2025-08-08 0 1 0 81.8
SPX BPS 2025-08-08 2025-08-08 6375 6305 1.1 1 3.2 106.8 2025-08-08 0 1 0 106.8
SPX BPS (IC) 2025-08-08 2025-08-11 6365 6360 0.87 1 3.28 83.72 2025-08-11 0 1 0 83.72
SPX BCS (IC) 2025-08-08 2025-08-11 6415 6420 1.23 1 3.28 119.72 2025-08-11 0 1 0 119.72
SPX BPS 2025-08-08 2025-08-08 6385 6345 1.2 1 3.2 116.8 2025-08-08 -2.45 1 3.19 -131.39
SPX BPS (IC) 2025-08-08 2025-08-08 6380 6375 0.61 1 3.39 57.61 2025-08-08 0 1 0 57.61
SPX BCS (IC) 2025-08-08 2025-08-08 6395 6400 0.89 1 3.39 85.61 2025-08-08 0 1 0 85.61
SPX BPS 2025-08-08 2025-08-08 6385 6380 0.45 1 3.11 41.89 2025-08-08 0 1 0 41.89
SPX BCS 2025-08-11 2025-08-11 6410 6485 1.05 1 3.2 101.8 2025-08-11 -2.2 1 1.64 -119.84
SPX BCS 2025-08-11 2025-08-11 6375 6300 1.1 1 3.2 106.8 2025-08-11 -2.25 1 3.2 -121.4
SPX BPS (IC) 2025-08-11 2025-08-11 6375 6370 0.81 1 3.28 77.72 2025-08-11 -1.55 1 0 -77.28
SPX BCS (IC) 2025-08-11 2025-08-11 6390 6395 1.44 1 3.28 140.72 2025-08-11 0 1 0 140.72
SPX BCS 2025-08-12 2025-08-12 6360 6285 0.8 1 3.2 76.8 2025-08-12 0 1 0 76.8
SPX BPS (IC) 2025-08-12 2025-08-12 6405 6400 0.6 1 3.28 56.72 2025-08-12 0 1 0 56.72
SPX BCS (IC) 2025-08-12 2025-08-12 6440 6445 0.85 1 3.28 81.72 2025-08-12 -5 1 0 -418.28
SPX BPS (IC) 2025-08-12 2025-08-13 6410 6405 0.9 1 3.28 86.72 2025-08-13 0 1 0 86.72
SPX BCS (IC) 2025-08-12 2025-08-13 6450 6455 1.55 1 3.28 151.72 2025-08-13 -5 1 0 -348.28
SPX BPS 2025-08-12 2025-08-12 6430 6365 1.05 1 3.2 101.8 2025-08-12 0 1 0 101.8
SPX BPS (IF) 2025-08-13 2025-08-14 6465 6455 4.3 1 3.29 426.71 2025-08-14 0 1 0 426.71
SPX BCS (IF) 2025-08-13 2025-08-14 6470 6475 2.15 1 3.29 211.71 2025-08-14 0 1 0 211.71
SPX BCS 2025-08-13 2025-08-13 6475 6515 1.15 1 3.2 111.8 2025-08-13 0 1 0 111.8
SPX BPS (IC) 2025-08-13 2025-08-13 6440 6435 0.86 1 3.28 82.72 2025-08-13 -1.58 1 0 -75.28
SPX BCS (IC) 2025-08-13 2025-08-13 6465 6470 1.09 1 3.28 105.72 2025-08-13 0 1 0 105.72
SPX BPS 2025-08-13 2025-08-13 6445 6385 0.9 1 3.2 86.8 2025-08-13 -2.45 1 3.2 -161.4
SPX BPS 2025-08-13 2025-08-13 6445 6370 0.9 1 3.11 86.89 2025-08-13 0 1 0 86.89
SPX BCS 2025-08-14 2025-08-14 6480 6535 0.9 1 3.11 86.89 2025-08-14 0 1 0 86.89
SPX BPS 2025-08-14 2025-08-14 6450 6400 1.2 1 3.2 116.8 2025-08-14 -2.5 1 3.4 -136.6
SPX BPS (IF) 2025-08-15 2025-08-18 6465 6455 4.55 1 3.49 451.51 2025-08-18 -10 1 0 -548.49
SPX BCS (IF) 2025-08-15 2025-08-18 6465 6470 2.4 1 3.29 236.71 2025-08-18 0 1 0 236.71
SPX BCS 2025-08-15 2025-08-15 6470 6510 1.2 1 3.2 116.8 2025-08-15 0 1 0 116.8
SPX BPS 2025-08-15 2025-08-15 6445 6385 1.05 1 3.2 101.8 2025-08-15 -1.95 1 3.29 -96.49
SPX BCS 2025-08-15 2025-08-15 6465 6515 1.2 1 3.2 116.8 2025-08-15 0 1 0 116.8
SPX BPS 2025-08-15 2025-08-15 6445 6440 0.45 1 3.31 41.69 2025-08-15 0 1 0 41.69
SPX BCS 2025-08-18 2025-08-18 6460 6525 0.9 1 3.11 86.89 2025-08-18 -2 1 1.64 -114.75
SPX BCS 2025-08-18 2025-08-18 6455 6520 0.9 1 3.11 86.89 2025-08-18 -1.9 1 1.64 -104.75
SPX BPS (IC) 2025-08-18 2025-08-18 6435 6430 0.77 1 3.44 73.56 2025-08-18 0 1 0 73.56
SPX BCS (IC) 2025-08-18 2025-08-18 6450 6455 1.13 1 3.45 109.55 2025-08-18 0 1 0 109.55
SPX BCS 2025-08-18 2025-08-18 6450 6490 1.15 1 3.2 111.8 2025-08-18 -2.4 1 1.64 -129.84
SPX BCS 2025-08-19 2025-08-19 6460 6520 1.1 1 3.2 106.8 2025-08-19 0 1 0 106.8
SPX BCS 2025-08-19 2025-08-19 6460 6465 0.35 1 3.2 31.8 2025-08-19 0 1 0 31.8
SPX BPS (IC) 2025-08-19 2025-08-19 6405 6400 0.61 1 3.29 57.71 2025-08-19 0 1 0 57.71
SPX BCS (IC) 2025-08-19 2025-08-19 6445 6450 0.69 1 3.29 65.71 2025-08-19 0 1 0 65.71
SPX BPS 2025-08-19 2025-08-19 6395 6325 0.7 1 3.11 66.89 2025-08-19 -1.55 1 3.4 -91.51
SPX BPS (IF) 2025-08-20 2025-08-21 6360 6350 4.55 1 3.49 451.51 2025-08-21 0 1 0 451.51
SPX BCS (IF) 2025-08-20 2025-08-21 6360 6365 2.5 1 3.29 246.71 2025-08-21 -5 1 0 -253.29
SPX BPS 2025-08-20 2025-08-20 6330 6255 1 1 3.2 96.8 2025-08-20 -2.1 1 3.4 -116.6
SPX BPS (IC) 2025-08-20 2025-08-20 6345 6340 0.82 1 3.28 78.72 2025-08-20 -0.2 1 3.11 55.61
SPX BCS (IC) 2025-08-20 2025-08-20 6385 6390 1.03 1 3.28 99.72 2025-08-20 -5 1 0 -400.28
SPX BPS 2025-08-20 2025-08-20 6350 6285 0.9 1 3.2 86.8 2025-08-20 -1.9 1 3.4 -106.6
SPX BPS 2025-08-21 2025-08-21 6345 6285 1.05 1 3.2 101.8 2025-08-21 -2.15 1 3.4 -116.6
SPX BPS (IF) 2025-08-22 2025-08-25 6465 6455 4.2 1 3.29 416.71 2025-08-25 -10 1 0 -583.29
SPX BCS (IF) 2025-08-22 2025-08-25 6465 6470 2.6 1 3.29 256.71 2025-08-25 0 1 0 256.71
SPX BCS 2025-08-22 2025-08-22 6495 6560 1 1 3.2 96.8 2025-08-22 0 1 0 96.8
SPX BPS 2025-08-22 2025-08-22 6460 6455 0.9 1 3.29 86.71 2025-08-22 0 1 0 86.71
SPX BPS 2025-08-22 2025-08-22 6460 6395 1.15 1 3.2 111.8 2025-08-22 -2.35 1 3.4 -126.6
SPX BPS (IC) 2025-08-22 2025-08-25 6445 6440 0.95 1 3.28 91.72 2025-08-25 -5 1 0 -408.28
SPX BCS (IC) 2025-08-22 2025-08-25 6490 6495 1.4 1 3.28 136.72 2025-08-25 0 1 0 136.72
SPX BCS 2025-08-22 2025-08-22 6475 6515 1.15 1 3.2 111.8 2025-08-22 0 1 0 111.8
SPX BPS 2025-08-22 2025-08-22 6460 6455 0.55 1 3.2 51.8 2025-08-22 0 1 0 51.8
SPX BCS 2025-08-22 2025-08-22 6465 6470 1.4 1 3.2 136.8 2025-08-22 -1.91 1 0 -54.2
SPX BPS 2025-08-25 2025-08-25 6445 6405 1.2 1 3.2 116.8 2025-08-25 -1.3 1 3.19 -16.39
SPX BPS 2025-08-25 2025-08-25 6450 0 2.27 1 1.64 225.36 2025-08-25 -2.12 1 1.64 11.72
SPX BPS 2025-08-25 2025-08-25 6455 6450 1.05 1 3.29 101.71 2025-08-25 -5 1 0 -398.29
SPX BPS (IC) 2025-08-25 2025-08-25 6455 6450 1.02 1 3.28 98.72 2025-08-25 -5 1 0 -401.28
SPX BCS (IC) 2025-08-25 2025-08-25 6465 6470 0.83 1 3.19 79.81 2025-08-25 0 1 0 79.81
SPX BPS 2025-08-25 2025-08-25 6465 6515 1 1 3.2 96.8 2025-08-25 0 1 0 96.8
SPX BPS 2025-08-26 2025-08-26 6415 6340 1.05 1 3.2 101.8 2025-08-26 0 1 0 101.8
SPX BPS (IC) 2025-08-26 2025-08-26 6425 6420 0.51 1 3.39 47.61 2025-08-26 0 1 0 47.61
SPX BCS (IC) 2025-08-26 2025-08-26 6455 6460 0.69 1 3.48 65.52 2025-08-26 -5 1 0 -434.48
SPX BPS 2025-08-26 2025-08-26 6440 6435 0.9 1 3.29 86.71 2025-08-26 0 1 0 86.71
SPX BCS 2025-08-26 2025-08-26 6450 6500 1.05 1 3.4 101.6 2025-08-26 -2.3 1 1.64 -130.04
SPX BPS (IF) 2025-08-27 2025-08-28 6485 6475 4.7 1 3.29 466.71 2025-08-28 0 1 0 466.71
SPX BCS (IF) 2025-08-27 2025-08-28 6480 6485 2.5 1 3.29 246.71 2025-08-28 -5 1 0 -253.29
SPX BPS 2025-08-28 2025-08-28 6460 6400 1.15 1 3.2 111.8 2025-08-28 -2.5 1 3.4 -141.6
SPX BCS 2025-08-28 2025-08-28 6485 6535 1.05 1 3.2 101.8 2025-08-28 -2.25 1 3.19 -126.39
SPX BPS 2025-08-28 2025-08-28 6480 6430 1 1 3.2 96.8 2025-08-28 -2.05 1 3.4 -111.6
SPX BPS 2025-08-28 2025-08-28 6455 6390 1.15 1 3.2 111.8 2025-08-28 0 1 0 111.8
SPX BPS 2025-08-29 2025-08-29 6450 6445 0.8 1 3.2 76.8 2025-08-29 0 1 0 76.8
TOTAL -1086.99
Total trades = 106
TOTAL PROFIT -$1,383.13
Total trades 139
Profit/trade -$9.95

Really shitty.

My 1DTE hot streak ended, but it was still profitable overall (+$230).

Main loss came from my SPX $5 Iron Condor Strategy (-$860), with a medium loss from METF/EMA strategy.

Interestingly, the $5 iron condor used to be my best performing 0DTE strategy (i.e. in March, April). After last month though, it is suddenly negative return on the year.

TOTALS #

TOTAL PROFIT/LOSS = -$1,383.13

Total number of trades = 139

Notes and Thoughts #

Not my worst month ever, but prety close.

The good news is that it's over now.

Strategy review #

Need to review a couple of my 0DTE strategies again (mainly $5 iron condor), to see what is going on.

Perhaps it is just in a natural drawdown that all strategies go through, or perhaps something is off on my entry parameters.

The market has very little volatility right now (VIX < 15) so maybe it is not getting enough premium to be worth trading.

ORB strategy #

I started testing a new 0dte strategy called "ORB" (Opening Range Breakout). I manually traded it a few times, because my automation code isn't working yet.

It has lost money so far, but I've only done a few trades, so too early to tell if it's any good.

Hopefully I can get the automation setup properly next month.