Profits again - Week in review (Aug 28 - Sep 1)
I made some decent profits this week for the first time in awhile.
The market popped up and I had mainly bullish positions, so things worked out.
I'm not going to get too excited though, as I'm still deep in the hole overall.
Have been reading a lot about trading psychology recently; so trying to control my emotions.
Stay in equilibrium.
Opened: #
Only one new position this week, which is part of my weekly SPY strategy. Tried to enter a couple others, but orders didn't get filled.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| SPY | open | BPS | 2023-08-29 | 2023-09-08 | 438 | 428 | 0.54 | 1 | 2.5 | 51.5 |
Closed / Expired: #
Closed 5 positions (2 expired).
Closed CRM a bit too quickly. It had earnings in a few days, so wanted to get out of the position beforehand. If I held on just 1-2 days more, could've squeezed out a lot more profit. It also popped up after earnings, so technically would've made a lot more, though I dont want to make a habit of holding through earnings.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| QQQ | open | BPS | 2023-08-08 | 2023-09-15 | 355 | 350 | 0.8 | 2 | 1.15 | 158.85 | $85.65 |
| QQQ | close | BPS | 2023-08-29 | 2023-09-15 | 350 | 355 | -0.35 | 2 | 3.2 | -73.2 | |
| CRM | open | BPS | 2023-08-14 | 2023-09-15 | 190 | 185 | 0.8 | 2 | 2.1 | 157.9 | $15.80 |
| CRM | close | BPS | 2023-08-28 | 2023-09-15 | 185 | 190 | -0.7 | 2 | 2.1 | -142.1 | |
| SPY | open | BPS | 2023-08-22 | 2023-09-01 | 425 | 414 | 0.67 | 1 | 2.5 | 64.5 | $64.50 |
| SPY | expired | BPS | 2023-09-01 | 2023-09-01 | 414 | 425 | 1 | 0 | |||
| IWM | open | BPS | 2023-08-24 | 2023-10-20 | 175 | 170 | 0.73 | 2 | 1.13 | 144.87 | $71.46 |
| IWM | close | BPS | 2023-09-01 | 2023-10-20 | 170 | 175 | -0.36 | 2 | 1.41 | -73.41 | |
| CSCO | open | Short Put | 2023-08-21 | 2023-09-01 | 55 | 0 | 0.5 | 1 | 0.63 | 49.37 | $49.37 |
| CSCO | expired | Short Put | 2023-09-01 | 2023-09-01 | 0 | 55 | 0 | 1 | 0 | 0 |
- Closed Net Profits/Loss: $286.78
Notes and Lessons #
It's nice to see some profits again, but I will need about 10 more weeks in a row like this to be positive overall again 😅
The market had a huge bullish surge last week which helped a lot.
CSCO Naked Puts #
CSCO also continues to trend up rather drastically, so my naked put expired worthless (i.e. profitable).
Contemplating whether I should keep selling naked puts on it or not.
My roughly calculated value entry price is actually around $60, so based on my strategy I should keep selling puts on it until then. Always easier said than done.
The chart looks great though.