Correction time - Two week review (July 15 - July 26)
The market finally had a decent sized correction that it was long due for.
I had been anticipating a pullback for awhile now.
Unfortunately, I lost my patience and entered a bunch of new bullish positions right before everything tanked. Yikes.
The last couple months has been pretty rough for me.
Here are my mess of trades over the past couple weeks:
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| MSFT | open | BPS | 2024-07-16 | 2024-10-18 | 405 | 390 | 1.63 | 1 | 1.41 | 161.59 |
| SPY | open | BPS | 2024-07-16 | 2024-07-26 | 552 | 542 | 0.54 | 3 | 4.29 | 157.71 |
| V | open | BPS | 2024-07-17 | 2024-10-18 | 250 | 240 | 1.2 | 1 | 2.11 | 117.89 |
| COST | open | BPS | 2024-07-19 | 2024-10-18 | 760 | 750 | 1.5 | 1 | 1.43 | 148.57 |
| BITO | open | Short Put | 2024-07-23 | 2024-07-26 | 22 | 0 | 0.16 | 1 | 0 | 16 |
| CSCO | open | Covered Call | 2024-07-23 | 2024-07-26 | 47.5 | 0 | 0.27 | 1 | 0 | 27 |
| BITO | open | Covered Call | 2024-07-23 | 2024-08-02 | 27 | 0 | 0.24 | 1 | 0 | 24 |
| SPY | open | BPS | 2024-07-24 | 2024-08-02 | 541 | 531 | 0.66 | 3 | 4.2 | 193.8 |
| MSFT | open | BPS | 2024-07-24 | 2024-10-18 | 400 | 385 | 1.71 | 1 | 1.41 | 169.59 |
| PG | open | BPS | 2024-07-27 | 2024-10-18 | 155 | 150 | 0.5 | 2 | 1.4 | 98.6 |
| MRVL | open | BPS | 2024-07-24 | 2024-09-20 | 60 | 55 | 1.04 | 2 | 2.82 | 205.18 |
| SPY | open | BPS | 2024-07-25 | 2024-07-26 | 533 | 529 | 0.39 | 1 | 1.4 | 37.6 |
| SPY | open | BCS | 2024-07-25 | 2024-08-30 | 546 | 548 | 1.06 | 1 | 2.13 | 103.87 |
| SPY | open | BCS | 2024-07-25 | 2024-08-23 | 553 | 555 | 0.75 | 1 | 1.41 | 73.59 |
| SPY | open | BCS | 2024-07-25 | 2024-08-30 | 549 | 550 | 0.489999999999999 | 1 | 1.42 | 47.5799999999999 |
| TSM | open | BPS | 2024-07-26 | 2024-09-20 | 140 | 135 | 0.85 | 2 | 2.46 | 167.54 |
| BITO | open | Short Put | 2024-07-26 | 2024-08-02 | 22 | 0 | 0.8 | 1 | 1.05 | 78.95 |
Closed / Expired: #
Other trades #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PG | open | BPS | 2024-05-17 | 2024-08-16 | 155 | 145 | 0.5 | 2 | 1.4 | 98.6 | $58.04 |
| PG | close | BPS | 2024-07-18 | 2024-08-16 | 145 | 155 | -0.19 | 2 | 2.56 | -40.56 | |
| SPY | open | BCS | 2024-06-12 | 2024-07-19 | 547 | 548 | 0.45 | 1 | 1.42 | 43.58 | -$50.52 |
| SPY | close | BCS | 2024-07-19 | 2024-07-19 | 548 | 547 | -0.92 | 1 | 2.1 | -94.1 | |
| SPY | open | BPS | 2024-06-13 | 2024-07-31 | 505 | 500 | 0.19 | 1 | 2.11 | 16.89 | $10.79 |
| SPY | close | BPS | 2024-07-25 | 2024-07-31 | 500 | 505 | -0.04 | 1 | 2.1 | -6.1 | |
| SPY | open | BCS | 2024-06-13 | 2024-07-31 | 555 | 560 | 1.26 | 1 | 2.11 | 123.89 | $79.79 |
| SPY | close | BCS | 2024-07-25 | 2024-07-31 | 560 | 555 | -0.42 | 1 | 2.1 | -44.1 | |
| IWM | open | BCS | 2024-06-17 | 2024-07-19 | 200 | 201 | 0.45 | 1 | 2.11 | 42.89 | -$57.11 |
| IWM | assigned/exercised | BCS | 2024-07-19 | 2024-07-19 | 201 | 200 | -1 | 1 | 0 | -100 | |
| QQQ | open | BCS | 2024-06-17 | 2024-08-16 | 490 | 495 | 2.16 | 1 | 1.43 | 214.57 | $112.17 |
| QQQ | close | BCS | 2024-07-24 | 2024-08-16 | 495 | 490 | -1.01 | 1 | 1.4 | -102.4 | |
| DIS | open | BPS | 2024-06-18 | 2024-08-16 | 95 | 90 | 0.99 | 2 | 1.4 | 196.6 | -$422.88 |
| DIS | close | BPS | 2024-07-24 | 2024-08-16 | 90 | 95 | -3.09 | 2 | 1.48 | -619.48 | |
| SPY | open | BCS | 2024-06-17 | 2024-07-26 | 550 | 551 | 0.48 | 1 | 3.09 | 44.91 | -$51.53 |
| SPY | close | BCS | 2024-07-16 | 2024-07-26 | 551 | 550 | -0.950000000000001 | 1 | 1.44 | -96.4400000000001 | |
| SPY | open | BCS | 2024-06-17 | 2024-08-02 | 550 | 551 | 0.510000000000001 | 1 | 2.12 | 48.8800000000001 | $21.78 |
| SPY | close | BCS | 2024-07-25 | 2024-08-02 | 551 | 550 | -0.25 | 1 | 2.1 | -27.1 | |
| QCOM | open | BPS | 2024-07-01 | 2024-08-16 | 175 | 170 | 0.78 | 2 | 1.4 | 154.6 | $81.49 |
| QCOM | close | BPS | 2024-07-16 | 2024-08-16 | 170 | 175 | -0.36 | 2 | 1.11 | -73.11 | |
| MU | open | BPS | 2024-07-03 | 2024-08-16 | 120 | 115 | 0.9 | 2 | 1.4 | 178.6 | -$259.98 |
| MU | close | BPS | 2024-07-17 | 2024-08-16 | 115 | 120 | -2.18 | 2 | 2.58 | -438.58 | |
| CMG | open | BPS | 2024-07-03 | 2024-08-16 | 57 | 52 | 0.8 | 2 | 1.4 | 158.6 | -$293.20 |
| CMG | close | BPS | 2024-07-17 | 2024-08-16 | 52 | 57 | -2.25 | 2 | 1.8 | -451.8 | |
| SPY | open | BCS | 2024-07-05 | 2024-08-16 | 555 | 556 | 0.55 | 1 | 1.28 | 53.72 | $26.62 |
| SPY | close | BCS | 2024-07-25 | 2024-08-16 | 556 | 555 | -0.25 | 1 | 2.1 | -27.1 | |
| SPY | open | BCS | 2024-07-09 | 2024-08-16 | 560 | 561 | 0.520000000000001 | 1 | 2.52 | 49.48 | $26.98 |
| SPY | close | BCS | 2024-07-24 | 2024-08-16 | 561 | 560 | -0.2 | 1 | 2.5 | -22.5 | |
| SNOW | open | BCS | 2024-07-10 | 2024-08-16 | 155 | 160 | 0.71 | 2 | 1.4 | 140.6 | $69.21 |
| SNOW | close | BCS | 2024-07-18 | 2024-08-16 | 160 | 155 | -0.35 | 2 | 1.39 | -71.39 | |
| SPY | open | BPS | 2024-07-16 | 2024-07-26 | 552 | 542 | 0.54 | 3 | 4.29 | 157.71 | -$339.68 |
| SPY | close | BPS | 2024-07-23 | 2024-07-26 | 542 | 552 | -1.64 | 3 | 5.39 | -497.39 | |
| SPY | open | BPS | 2024-07-25 | 2024-07-26 | 533 | 529 | 0.39 | 1 | 1.4 | 37.6 | $37.60 |
| SPY | expired | BPS | 2024-07-26 | 2024-07-26 | 529 | 533 | 0 | 1 | 0 | 0 | |
| SPY | open | BPS | 2024-07-24 | 2024-08-02 | 541 | 531 | 0.66 | 3 | 4.2 | 193.8 | -$787.93 |
| SPY | close | BPS | 2024-07-25 | 2024-08-02 | 531 | 541 | -3.26 | 3 | 3.73 | -981.73 |
- Closed Net Profits/Loss: -$1738.36
CSCO naked put #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CSCO | open | Short Put | 2024-05-17 | 2024-05-24 | 47.5 | 0 | 0.17 | 1 | 1.05 | 15.95 | -$4,702.10 |
| CSCO | assigned | Short Put | 2024-05-24 | 2024-05-24 | - | 47.5 | 0 | 100 | 0 | -4750 | |
| CSCO | open | Covered Call | 2024-05-28 | 2024-06-07 | 47.5 | - | 0.33 | 1 | 1.05 | 31.95 | |
| CSCO | expired | Covered Call | 2024-06-07 | 2024-06-07 | - | 47.5 | 0 | 1 | 0 | 0 | |
| CSCO | open | Covered Call | 2024-06-20 | 2024-06-28 | 47.5 | 0 | 0.1 | 1 | 1.04 | 8.96 | $17.88 |
| CSCO | close | Covered Call | 2024-06-21 | 2024-06-28 | 0 | 47.5 | -0.59 | 1 | 1.54 | -60.54 | |
| CSCO | open | Covered Call | 2024-06-21 | 2024-07-05 | 47.5 | 0 | 0.71 | 1 | 1.54 | 69.46 | |
| CSCO | expired | Covered Call | 2024-07-05 | 2024-07-05 | 0 | 47.5 | 0 | 1 | 0 | 0 | |
| CSCO | open | Covered Call | 2024-07-11 | 2024-07-19 | 47.5 | 0 | 0.23 | 1 | 0.85 | 22.15 | $22.15 |
| CSCO | expired | Covered Call | 2024-07-19 | 2024-07-19 | 0 | 47.5 | 0 | 1 | 0 | 0 | |
| CSCO | open | Covered Call | 2024-07-23 | 2024-07-26 | 47.5 | 0 | 0.27 | 1 | 0 | 27 | $4,777.00 |
| CSCO | exercised | Covered Call | 2024-07-26 | 2024-07-26 | 0 | 47.5 | 47.5 | 1 | 0 | 4750 |
- Closed Net Profits/Loss: $114.93
BITO naked put #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BITO | open | Short Put | 2024-06-20 | 2024-07-05 | 22 | 0 | 0.35 | 1 | 0.8 | 34.2 | -$2,165.80 |
| BITO | assigned | Short Put | 2024-07-05 | 2024-07-05 | 0 | 22 | -22 | 1 | 0 | -2200 | |
| BITO | open | Covered Call | 2024-07-09 | 2024-07-19 | 22 | 0 | 0.17 | 1 | 1.05 | 15.95 | $2,215.95 |
| BITO | exercised | Covered Call | 2024-07-19 | 2024-07-19 | 0 | 22 | 22 | 1 | 0 | 2200 | |
| BITO | open | Short Put | 2024-07-23 | 2024-07-26 | 22 | 0 | 0.16 | 1 | 0 | 16 | $16.00 |
| BITO | expired | Short Put | 2024-07-26 | 2024-07-26 | 0 | 22 | 0 | 1 | 0 | 0 |
- Closed Net Profits/Loss: $66.15
TOTAL NET PROFIT/LOSS: -$1557.28
Super big fucking loss.
Mainly on SPY, which I had really bad fucking timing on.
Actually did not need to take the last huge loss, because it rebounded on the last day, but hindisight is always 20/20.
Also had bad loss on DIS, which I completely lost track of, and did not cut my loss on time.
Notes and Lessons #
Extremely terrible couple of weeks.
I need to think about reducing my position size on weekly SPY trades. When it has volatile spikes like last week, I can't cut my loss on time. It went from tiny loss to -$600 in one day.
Have been losing tons of money the past couple months. Really doesn't feel good.
Timing is everything, and my timing recently has been really terrible.
On the good side, a couple of my naked put campaigns closed for small profits.
Will the market drop more? Or is this just a blip in the huge bull run of the past year?