How I made $146 in June 2023 trading options
June was my worst month so far, but I'm sure far worse is coming soon 🙃
I made $146, on 16 closed trades.
I did take a week or so off though, because my phone broke and couldn't log in to my account. I also lowered my position sizes, because I started getting scared of racking of too many big losses.
Here are the closed trades from June:
June 2023 Closed Trades #
| Ticker | Action | Type | Trade Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fees | Total | Net Profit/Loss | Days | Annual Return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IBM | open | BCS | 2023-05-22 | 2023-07-21 | 135 | 140 | 0.95 | 1 | 1.4 | 93.6 | -2.80 | 32 | -6.39% |
| IBM | close | BCS | 2023-06-23 | 2023-07-21 | 140 | 135 | -0.95 | 1 | 1.4 | -96.4 | |||
| MU | open | BCS | 2023-05-23 | 2023-07-21 | 75 | 80 | 0.75 | 2 | 2.81 | 147.19 | 6.07 | 14 | 15.83% |
| MU | close | BCS | 2023-06-06 | 2023-07-21 | 80 | 75 | -0.7 | 2 | 1.12 | -141.12 | |||
| SYF | open | BCS | 2023-05-24 | 2023-07-21 | 33 | 37 | 0.6 | 2 | 0.2 | 119.8 | -140.4 | 12 | -533.81% |
| SYF | close | BCS | 2023-06-05 | 2023-07-21 | 37 | 33 | -1.3 | 2 | 0.2 | -260.2 | |||
| ADBE | open | BPS | 2023-05-30 | 2023-07-21 | 365 | 360 | 0.72 | 2 | 2.8 | 141.2 | 19.72 | 2 | 359.89% |
| ADBE | close | BPS | 2023-06-01 | 2023-07-21 | 360 | 365 | -0.6 | 2 | 1.48 | -121.48 | |||
| NKE | open | BPS | 2023-06-01 | 2023-07-21 | 95 | 90 | 0.82 | 2 | 1.13 | 162.87 | 41.39 | 1 | 1510.74% |
| NKE | close | BPS | 2023-06-02 | 2023-07-21 | 90 | 95 | -0.6 | 2 | 1.48 | -121.48 | |||
| IWM | open | BPS | 2023-06-01 | 2023-07-21 | 160 | 158 | 0.26 | 4 | 8.58 | 95.42 | 40.93 | 1 | 1867.43% |
| IWM | close | BPS | 2023-06-02 | 2023-07-21 | 158 | 160 | -0.13 | 4 | 2.49 | -54.49 | |||
| DD | open | BCS | 2023-06-01 | 2023-07-21 | 72.5 | 75 | 0.45 | 2 | 0.2 | 89.8 | 9.60 | 14 | 50.06% |
| DD | close | BCS | 2023-06-15 | 2023-07-21 | 75 | 72.5 | -0.4 | 2 | 0.2 | -80.2 | |||
| ADBE | open | BPS | 2023-06-02 | 2023-07-21 | 390 | 385 | 0.8 | 2 | 1.34 | 158.66 | 16.56 | 6 | 100.74% |
| ADBE | close | BPS | 2023-06-08 | 2023-07-21 | 385 | 390 | -0.7 | 2 | 2.1 | -142.1 | |||
| XLE | open | BPS | 2023-06-05 | 2023-07-21 | 74 | 70 | 0.6 | 1 | 1.4 | 58.6 | 26.2 | 3 | 796.92% |
| XLE | close | BPS | 2023-06-08 | 2023-07-21 | 70 | 74 | -0.31 | 1 | 1.4 | -32.4 | |||
| ABBV | open | BPS | 2023-06-05 | 2023-07-21 | 130 | 125 | 0.75 | 1 | 1.4 | 73.6 | 2.2 | 1 | 160.60% |
| ABBV | close | BPS | 2023-06-06 | 2023-07-21 | 125 | 130 | -0.7 | 1 | 1.4 | -71.4 | |||
| TWLO | open | BCS | 2023-06-07 | 2023-07-21 | 75 | 80 | 1.05 | 1 | 1.6 | 103.4 | 36.8 | 1 | 2686.40% |
| TWLO | close | BCS | 2023-06-07 | 2023-07-21 | 80 | 75 | -0.65 | 1 | 1.6 | -66.6 | |||
| NKE | open | BPS | 2023-06-08 | 2023-07-21 | 97.5 | 95 | 0.43 | 1 | 2.1 | 40.9 | 14.58 | 8 | 266.08% |
| NKE | close | BPS | 2023-06-15 | 2023-07-21 | 95 | 97.5 | -0.25 | 1 | 1.32 | -26.32 | |||
| SBUX | open | BPS | 2023-06-12 | 2023-08-18 | 90 | 85 | 0.65 | 1 | 1.4 | 63.6 | 17.2 | 3 | 418.53% |
| SBUX | close | BPS | 2023-06-14 | 2023-08-18 | 85 | 90 | -0.45 | 1 | 1.4 | -46.4 | |||
| TGT | open | BPS | 2023-06-12 | 2023-08-18 | 110 | 105 | 0.75 | 1 | 1.4 | 73.6 | 32.2 | 4 | 587.65% |
| TGT | close | BPS | 2023-06-15 | 2023-08-18 | 105 | 110 | -0.4 | 1 | 1.4 | -41.4 | |||
| HD | open | BCS | 2023-06-12 | 2023-08-18 | 330 | 335 | 0.8 | 1 | 1.4 | 78.6 | 11.2 | 5 | 163.52% |
| HD | close | BCS | 2023-06-16 | 2023-08-18 | 335 | 330 | -0.66 | 1 | 1.4 | -67.4 | |||
| RUT | open | BPS | 2023-06-28 | 2023-07-07 | 1780 | 1775 | 0.35 | 1 | 2.4 | 32.6 | 15.2 | 2 | 554.80% |
| RUT | close | BPS | 2023-06-29 | 2023-07-07 | 1775 | 1780 | -0.15 | 1 | 2.4 | -17.4 | |||
| TOTAL | $146.65 | ||||||||||||
| Win % | 87.50% | ||||||||||||
| Avg. Win/Loss | $9.17 |
Notes and Thoughts #
I still suck at cutting losses.
It's difficult. I always think the trade is going to turn around in my favor, so just hold on. Sometimes it does, and I breakeven. Many times, it does not, and the position reaches maximum loss.
I currently have 18 open positions. 3-4 of them are losing a lot of money, because I didn't cut losses earlier. They're also all expiring this month (July). I'll try to adjust or roll if it's possible. Mainly, I will sit and pray.
New strategy #
Because of my lack of self discipline (or uncontrollable optimism), I started to change my strategy a bit last month. Basically, I just look at Expected Value (EV) of trade using Probability of Profit number from Think or Swim. If the EV is 0 or greater, than I enter the trade. I take profits at 50%, or just hold it until expiry to see what happens.
It's still too early to see if this strategy works or not.