How I made $1421 in May 2024 trading options
Very good month, profit wise.
Actually, second best month ever!
Could've been even better if not for a couple stupid mistakes.
Here are all the closed trades from May:
May 2024 Closed Trades #
| Ticker | Action | Type | Trade Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fees | Total | Net Profit/Loss | Days | Annual Return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | open | BPS | 2024-03-18 | 2024-06-21 | 370 | 355 | 1.55 | 1 | 1.4 | 153.6 | $77.20 | 49 | 38.34% |
| MSFT | close | BPS | 2024-05-06 | 2024-06-21 | 355 | 370 | -0.75 | 1 | 1.4 | -76.4 | |||
| MSFT | open | BPS | 2024-03-21 | 2024-06-21 | 380 | 340 | 2.61 | 1 | 2.1 | 258.9 | $122.64 | 50 | 22.38% |
| MSFT | close | BPS | 2024-05-10 | 2024-06-21 | 340 | 380 | -1.35 | 1 | 1.26 | -136.26 | |||
| V | open | BPS | 2024-03-21 | 2024-05-17 | 265 | 255 | 0.68 | 2 | 1.32 | 134.68 | $65.29 | 47 | 25.35% |
| V | close | BPS | 2024-05-07 | 2024-05-17 | 255 | 265 | -0.34 | 2 | 1.39 | -69.39 | |||
| NVO | open | BPS | 2024-03-27 | 2024-05-17 | 150 | 140 | 1 | 2 | 1.4 | 198.6 | -$4.51 | 37 | -2.22% |
| NVO | close | BPS | 2024-05-03 | 2024-05-17 | 140 | 150 | -1.01 | 2 | 1.11 | -203.11 | |||
| MSFT | open | BPS | 2024-04-08 | 2024-07-19 | 375 | 360 | 1.5 | 1 | 1.26 | 148.74 | $77.34 | 37 | 50.86% |
| MSFT | close | BPS | 2024-05-15 | 2024-07-19 | 360 | 375 | -0.7 | 1 | 1.4 | -71.4 | |||
| PG | open | BPS | 2024-04-23 | 2024-07-19 | 150 | 140 | 0.51 | 1 | 1.4 | 49.6 | $30.20 | 17 | 64.84% |
| PG | close | BPS | 2024-05-10 | 2024-07-19 | 140 | 150 | -0.18 | 1 | 1.4 | -19.4 | |||
| SPY | open | BPS | 2024-04-23 | 2024-05-03 | 490 | 480 | 0.72 | 2 | 2.79 | 141.21 | $141.21 | 10 | 257.71% |
| SPY | expired | BPS | 2024-05-03 | 2024-05-03 | 480 | 490 | 0 | 2 | 0 | 0 | |||
| COST | open | BPS | 2024-04-23 | 2024-07-19 | 650 | 630 | 2.14 | 1 | 1.4 | 212.6 | $111.20 | 13 | 156.11% |
| COST | close | BPS | 2024-05-06 | 2024-07-19 | 630 | 650 | -1 | 1 | 1.4 | -101.4 | |||
| MU | open | BPS | 2024-04-25 | 2024-06-21 | 100 | 95 | 1.15 | 2 | 1.23 | 228.77 | $141.66 | 11 | 470.05% |
| MU | close | BPS | 2024-05-06 | 2024-06-21 | 95 | 100 | -0.43 | 2 | 1.11 | -87.11 | |||
| SPY | open | BPS | 2024-04-30 | 2024-05-10 | 496 | 486 | 0.71 | 2 | 3.6 | 138.4 | $138.40 | 10 | 252.58% |
| SPY | expired | BPS | 2024-05-10 | 2024-05-10 | 486 | 496 | 0 | 2 | 0 | 0 | |||
| BX | open | BPS | 2024-05-02 | 2024-06-21 | 110 | 105 | 0.9 | 2 | 1.39 | 178.61 | $87.22 | 1 | 3183.53% |
| BX | close | BPS | 2024-05-03 | 2024-06-21 | 105 | 110 | -0.45 | 2 | 1.39 | -91.39 | |||
| ORCL | open | BPS | 2024-05-02 | 2024-06-21 | 105 | 100 | 0.85 | 2 | 1.39 | 168.61 | $83.22 | 12 | 253.13% |
| ORCL | close | BPS | 2024-05-14 | 2024-06-21 | 100 | 105 | -0.42 | 2 | 1.39 | -85.39 | |||
| MSFT | open | BPS | 2024-05-07 | 2024-08-16 | 370 | 360 | 1.27 | 1 | 1.4 | 125.6 | $64.20 | 14 | 167.38% |
| MSFT | close | BPS | 2024-05-21 | 2024-08-16 | 360 | 370 | -0.6 | 1 | 1.4 | -61.4 | |||
| SPY | open | BPS | 2024-05-07 | 2024-05-17 | 505 | 495 | 0.57 | 2 | 3.6 | 110.4 | $110.40 | 10 | 201.48% |
| SPY | expired | BPS | 2024-05-17 | 2024-05-17 | 495 | 505 | 0 | 2 | 0 | 0 | |||
| BA | open | BCS | 2024-05-07 | 2024-06-21 | 195 | 200 | 0.71 | 2 | 1.32 | 140.68 | -$150.80 | 13 | -423.40% |
| BA | close | BCS | 2024-05-20 | 2024-06-21 | 200 | 195 | -1.45 | 2 | 1.48 | -291.48 | |||
| SPY | open | BPS | 2024-05-15 | 2024-05-24 | 516 | 507 | 0.52 | 2 | 2.8 | 101.2 | $101.20 | 9 | 228.01% |
| SPY | expired | BPS | 2024-05-24 | 2024-05-24 | 507 | 516 | 0 | 2 | 0 | 0 | |||
| SPY | open | BPS | 2024-05-21 | 2024-05-31 | 521 | 513 | 0.61 | 3 | 6.42 | 176.58 | $176.58 | 10 | 268.55% |
| SPY | expired | BPS | 2024-05-31 | 2024-05-31 | 513 | 521 | 0 | 3 | 0 | 0 | |||
| GE | open | BPS | 2024-05-21 | 2024-07-19 | 150 | 145 | 1.02 | 1 | 1.27 | 100.73 | $49.33 | 3 | 1200.36% |
| GE | close | BPS | 2024-05-24 | 2024-07-19 | 145 | 150 | -0.5 | 1 | 1.4 | -51.4 | |||
| TOTAL | $1,421.98 | ||||||||||||
| Win % | 88.89% | ||||||||||||
| Avg. Win/Loss | $79.00 | ||||||||||||
| Number of trades | 18 |
Notes and Thoughts #
Market turned bullish again this past month, so I was able to make money.
As you can see from the trades above, everything was a bullish trade. I only made one bearish trade, and ended up losing money on it (though it would've actually made money if I held longer).
I still have not found a good way to hedge all my bullish positions in case the market turns down (like it did last month).
Maybe I should just start buying puts every month? That doesn't seem like a very good strategy.
I could start selling bear credit spreads on SPY or some other index fund. That would just basically cancel out my weekly SPY strategy though, or turn it into a weekly iron condor (neutral trade).
The VIX is inversely correlated to SPY, so maybe trade that somehow? Or gold (IAU, GLD), or bonds (TLT, BND)? Seems like I still have more research to do.