How I LOST $2074 in June 2024 trading options
Second worst month of all time.
All of the losses came from a couple stupid MCD trades that I didn't want to take a loss on earlier.
Adjusted the trade multiple times (increased risk), and it came back to bite me in the ass. 🥲
Here are the trades from the past month:
June 2024 Closed Trades #
| Ticker | Action | Type | Trade Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fees | Total | Net Profit/Loss | Days | Annual Return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MCD | open | BPS | 2024-01-23 | 2024-04-19 | 275 | 265 | 0.81 | 1 | 2.08 | 78.92 | -$1,551.29 | 106 | -534.17% |
| MCD | close | BPS | 2024-06-13 | 2024-04-19 | 250 | 270 | -16.9 | 1 | 1.4 | -1691.4 | |||
| MCD | open | BPS | 2024-02-20 | 2024-05-17 | 275 | 265 | 1.1 | 1 | 1.4 | 108.6 | -$1,199.83 | 111 | -394.54% |
| MCD | close | BPS | 2024-05-08 | 2024-05-17 | 265 | 275 | -6.5 | 1 | 1.4 | -651.4 | |||
| MCD | open | BPS | 2024-05-08 | 2024-06-21 | 275 | 260 | 7.5 | 1 | 1.4 | 748.6 | |||
| MCD | assigned | Short Put | 2024-06-01 | - | - | 275 | - | 100 | 0 | -27500 | |||
| MCD | close | Short Put | 2024-06-10 | - | 253.29 | - | - | 100 | 1.71 | 25327.29 | |||
| MCD | close | Long Put | 2024-06-10 | 2024-06-21 | 260 | - | 7.3 | 1 | 0.82 | 729.18 | |||
| MCD | open | Covered Call | 2024-06-04 | 2024-06-21 | 272.5 | - | 0.55 | 1 | 1.05 | 53.95 | |||
| MCD | close | Covered Call | 2024-06-10 | 2024-06-21 | - | 272.5 | -0.15 | 1 | 1.05 | -16.05 | |||
| MSFT | open | BPS | 2024-05-16 | 2024-08-16 | 385 | 355 | 2.66 | 1 | 1.4 | 264.6 | $133.20 | 27 | 60.02% |
| MSFT | close | BPS | 2024-06-12 | 2024-08-16 | 355 | 385 | -1.3 | 1 | 1.4 | -131.4 | |||
| PYPL | open | BPS | 2024-05-17 | 2024-07-19 | 60 | 55 | 0.82 | 2 | 1.39 | 162.61 | $1.13 | 19 | 2.17% |
| PYPL | close | BPS | 2024-06-05 | 2024-07-19 | 55 | 60 | -0.8 | 2 | 1.48 | -161.48 | |||
| MSFT | open | BPS | 2024-05-21 | 2024-08-16 | 390 | 380 | 1.2 | 1 | 1.41 | 118.59 | $67.19 | 27 | 90.83% |
| MSFT | close | BPS | 2024-06-17 | 2024-08-16 | 380 | 390 | -0.5 | 1 | 1.4 | -51.4 | |||
| AMZN | open | BPS | 2024-05-28 | 2024-07-19 | 170 | 165 | 0.9 | 2 | 2.82 | 177.18 | $5.70 | 8 | 26.01% |
| AMZN | close | BPS | 2024-06-05 | 2024-07-19 | 165 | 170 | -0.85 | 2 | 1.48 | -171.48 | |||
| MSFT | open | BPS | 2024-05-28 | 2024-09-20 | 380 | 370 | 1.16 | 1 | 1.41 | 114.59 | $63.19 | 27 | 85.42% |
| MSFT | close | BPS | 2024-06-24 | 2024-09-20 | 370 | 380 | -0.5 | 1 | 1.4 | -51.4 | |||
| SPY | open | BPS | 2024-05-28 | 2024-06-07 | 520 | 509 | 0.66 | 3 | 4.2 | 193.8 | $193.80 | 10 | 214.35% |
| SPY | expired | BPS | 2024-06-07 | 2024-06-07 | 509 | 520 | 0 | 3 | 0 | 0 | |||
| BITO | open | Short Put | 2024-05-28 | 2024-06-21 | 22 | 0 | 0.22 | 1 | 0.8 | 21.2 | $21.20 | 24 | 14.66% |
| BITO | expired | Short Put | 2024-06-21 | 2024-06-21 | 0 | 22 | 1 | 0 | |||||
| V | open | BPS | 2024-05-29 | 2024-07-19 | 260 | 255 | 0.89 | 2 | 1.4 | 176.6 | $59.80 | 7 | 311.81% |
| V | close | BPS | 2024-06-05 | 2024-07-19 | 255 | 260 | -0.57 | 2 | 2.8 | -116.8 | |||
| SPY | open | BCS | 2024-06-01 | 2024-06-07 | 526 | 527 | 0.54 | 1 | 3.09 | 50.91 | -$44.51 | 5 | -3249.23% |
| SPY | close | BCS | 2024-06-06 | 2024-06-07 | 527 | 526 | -0.94 | 1 | 1.42 | -95.4199999999999 | |||
| NKE | open | BCS | 2024-06-01 | 2024-07-19 | 100 | 105 | 1.16 | 1 | 1.4 | 114.6 | $5.20 | 4 | 94.90% |
| NKE | close | BCS | 2024-06-05 | 2024-07-19 | 105 | 100 | -1.08 | 1 | 1.4 | -109.4 | |||
| XSP | open | BCS | 2024-06-07 | 2024-06-28 | 536 | 537 | 0.58 | 1 | 1.84 | 56.16 | -$43.84 | 21 | -761.98% |
| XSP | assigned/exercised | BCS | 2024-06-28 | 2024-06-28 | 537 | 536 | 1 | 0 | -100 | ||||
| ES | open | BPS | 2024-06-07 | 2024-06-07 | 5300 | 5295 | 0.5 | 0.5 | 2.84 | 22.16 | $22.16 | 1 | 3235.36% |
| ES | expired | BPS | 2024-06-07 | 2024-06-07 | 5295 | 5300 | 0 | 0.5 | 0 | 0 | |||
| ES | open | BCS | 2024-06-07 | 2024-06-07 | 5400 | 5405 | 1 | 0.5 | 2.84 | 47.16 | $47.16 | 1 | 6885.36% |
| ES | expired | BCS | 2024-06-07 | 2024-06-07 | 5405 | 5400 | 0 | 0.5 | 0 | 0 | |||
| QQQ | open | BCS | 2024-06-07 | 2024-06-14 | 463 | 464 | 0.56 | 1 | 1.61 | 54.39 | -$41.74 | 5 | -3047.02% |
| QQQ | close | BCS | 2024-06-12 | 2024-06-14 | 464 | 463 | -0.94 | 1 | 2.13 | -96.1299999999999 | |||
| SPY | open | BCS | 2024-06-10 | 2024-06-14 | 539 | 540 | 0.34 | 1 | 3.08 | 30.92 | -$81.65 | 4 | -7450.56% |
| SPY | close | BCS | 2024-06-11 | 2024-06-14 | - | 539 | -1.41 | 1 | 1.54 | -142.54 | |||
| SPY | open | BCS | 2024-06-11 | 2024-06-14 | 538 | - | 1.76 | 1 | 1.54 | 174.46 | |||
| SPY | close | BCS | 2024-06-14 | 2024-06-14 | 540 | 538 | -1.7 | 1 | 1.4 | -171.4 | |||
| SPY | open | BPS | 2024-06-10 | 2024-06-14 | 531 | 530 | 0.3 | 1 | 3.09 | 26.91 | 4 | 0.00% | |
| SPY | expired | BPS | 2024-06-14 | 2024-06-14 | 530 | 531 | 0 | 1 | 0 | 0 | |||
| C | open | BCS | 2024-06-10 | 2024-07-05 | 63 | 64 | 0.31 | 1 | 1.4 | 29.6 | $12.50 | 3 | 1520.83% |
| C | close | BCS | 2024-06-13 | 2024-07-05 | 64 | 63 | -0.15 | 1 | 2.1 | -17.1 | |||
| QQQ | open | BCS | 2024-06-10 | 2024-07-05 | 473 | 474 | 0.21 | 1 | 2.5 | 18.5 | -$70.62 | 3 | -8592.10% |
| QQQ | close | BCS | 2024-06-13 | 2024-07-05 | 474 | 473 | -0.87 | 1 | 2.12 | -89.12 | |||
| SPY | open | BPS | 2024-06-11 | 2024-06-21 | 520 | 510 | 0.53 | 3 | 5.71 | 153.29 | $153.29 | 10 | 186.50% |
| SPY | expired | BPS | 2024-06-21 | 2024-06-21 | 510 | 520 | 3 | 0 | |||||
| QQQ | open | BCS | 2024-06-11 | 2024-06-12 | 470 | 471 | 0.22 | 1 | 2.1 | 19.9 | -$80.10 | 1 | -29236.50% |
| QQQ | assigned/exercised | BCS | 2024-06-12 | 2024-06-12 | 471 | 470 | -1 | 1 | 0 | -100 | |||
| SPY | open | BPS | 2024-06-18 | 2024-06-28 | 535 | 525 | 0.52 | 3 | 7.13 | 148.87 | $148.87 | 10 | 181.13% |
| SPY | close | BPS | 2024-06-28 | 2024-06-28 | 525 | 535 | 0 | 3 | 0 | 0 | |||
| SPY | open | BPS | 2024-06-25 | 2024-07-05 | 534 | 524 | 0.71 | 2 | 2.8 | 139.2 | $104.70 | 3 | 636.93% |
| SPY | close | BPS | 2024-06-28 | 2024-07-05 | 524 | 534 | -0.16 | 2 | 2.5 | -34.5 | |||
| TOTAL | -$2,074.49 | ||||||||||||
| Win % | 65.22% | ||||||||||||
| Avg. Win/Loss | -$90.20 | ||||||||||||
| Number of trades | 23 |
Notes and Thoughts #
Should've just stuck to the plan.
Tried to get clever adjusting MCD trades, and it didn't work at all. Also, realized the volume and spreads on MCD options is not very good, so I have decided to take it off my long term strategy list for now.
The market is still going up and up, which makes it worse because I should've made a decent profit if not for the big loss.
Started experimenting with Option Alpha trade ideas. So far, it has not been going so well, as I lost over $300 last month on those trades.
Without the MCD trades and the new Option Alpha trades, I would've actually made over $1000 in June. Instead, I lost over $2000.
Perhaps, just sticking with the original strategy would've been better.
I think I was just getting bored. Sometimes, boring is good, I guess.