Monster rebound - Weekly summary (Aug 12 - Aug 16)
Market continues it's monster rebound after the huge one day drop last week.
The bulls have taken back over, and its almost like the drop never even happened.
I also had a profitable week. Started messing around with a bunch of 0DTE (0 days to expiry trades), and probalby overtraded a bit.
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| CSCO | open | Covered Call | 2024-08-12 | 2024-08-16 | 47 | 0 | 0.84 | 1 | 1.05 | 82.95 |
| BITO | open | Covered Call | 2024-08-12 | 2024-09-06 | 22 | 0 | 0.33 | 1 | 0.8 | 32.2 |
| QQQ | open | BCS (IC) | 2024-08-12 | 2024-08-12 | 454 | 455 | 0.32 | 1 | 1.4 | 30.6 |
| QQQ | open | BPS (IC) | 2024-08-12 | 2024-08-12 | 451 | 450 | 0.22 | 1 | 1.4 | 20.6 |
| SPY | open | BCS | 2024-08-12 | 2024-09-06 | 537 | 538 | 0.550000000000001 | 1 | 1.42 | 53.5800000000001 |
| SPY | open | BPS | 2024-08-13 | 2024-08-23 | 518 | 515 | 0.32 | 1 | 1.4 | 30.6 |
| QQQ | open | BCS (IC) | 2024-08-14 | 2024-08-14 | 463 | 464 | 0.36 | 1 | 2.11 | 33.89 |
| QQQ | open | BPS (IC) | 2024-08-14 | 2024-08-14 | 460 | 459 | 0.21 | 1 | 2.1 | 18.9 |
| NKE | open | BCS | 2024-08-14 | 2024-09-20 | 82.5 | 85 | 0.45 | 1 | 1.4 | 43.6 |
| SPY | open | BCS | 2024-08-14 | 2024-09-13 | 546 | 547.5 | 0.830000000000001 | 1 | 1.42 | 81.5800000000001 |
| SPY | open | BCS | 2024-08-15 | 2024-09-20 | 556 | 557 | 0.51 | 1 | 2.12 | 48.88 |
| QQQ | open | BCS (IC) | 2024-08-15 | 2024-08-15 | 472 | 471 | 0.21 | 1 | 3.08 | 17.92 |
| QQQ | open | BPS (IC) | 2024-08-15 | 2024-08-15 | 474 | 475 | 0.33 | 1 | 3.08 | 29.92 |
| QQQ | open | BCS (IC) | 2024-08-16 | 2024-09-20 | 474 | 475 | 0.17 | 1 | 3.08 | 13.92 |
| QQQ | open | BPS (IC) | 2024-08-02 | 2024-09-20 | 471 | 470 | 0.38 | 1 | 3.08 | 34.92 |
| XLY | open | BCS | 2024-08-15 | 2024-09-20 | 185 | 186 | 0.5 | 1 | 2.11 | 47.89 |
| SPX | open | BCS (IC) | 2024-08-16 | 2024-08-16 | 5545 | 5550 | 4.78 | 1 | 3.28 | 474.72 |
| SPX | open | BPS (IC) | 2024-08-02 | 2024-08-16 | 5545 | 5540 | 0.02 | 1 | 3.1 | -1.1 |
Made four 0DTE trades. Three on QQQ and one on SPX. Got the ideas off of Option Alpha -- I was looking for trades with 50%+ win rate and over 100% return on risk.
The backtest says its very profitable over time, though I ended up losing a bit of money this week. Not sure if I'll keep trying 0DTE or not.
If I do, will need to keep better track of the specific time of day I'm trading to keep things consistent.
Closed / Expired: #
Other trades #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| V | open | BPS | 2024-06-13 | 2024-09-20 | 245 | 240 | 0.5 | 1 | 2.11 | 47.89 | $25.49 |
| V | close | BPS | 2024-08-15 | 2024-09-20 | 240 | 245 | -0.21 | 1 | 1.4 | -22.4 | |
| COST | open | BPS | 2024-06-20 | 2024-09-20 | 795 | 775 | 2.36 | 1 | 2.12 | 233.88 | $117.47 |
| COST | close | BPS | 2024-08-15 | 2024-09-20 | 775 | 795 | -1.15 | 1 | 1.41 | -116.41 | |
| COST | open | BPS | 2024-07-19 | 2024-10-18 | 760 | 750 | 1.5 | 1 | 1.43 | 148.57 | $72.16 |
| COST | close | BPS | 2024-08-15 | 2024-10-18 | 750 | 760 | -0.75 | 1 | 1.41 | -76.41 | |
| CSCO | open | Short Put | 2024-07-30 | 2024-08-09 | 47 | 0 | 0.22 | 1 | 1.05 | 20.95 | -$4,679.05 |
| CSCO | assigned | Short Put | 2024-08-16 | 2024-08-09 | 0 | 47 | -47 | 1 | 0 | -4700 | |
| IWM | open | BCS | 2024-08-02 | 2024-08-23 | 215 | 216 | 0.37 | 1 | 2.11 | 34.89 | $17.79 |
| IWM | close | BCS | 2024-08-12 | 2024-08-23 | 216 | 215 | -0.15 | 1 | 2.1 | -17.1 | |
| BITO | open | Short Put | 2024-08-05 | 2024-08-16 | 16 | 0 | 0.37 | 1 | 0.8 | 36.2 | $36.20 |
| BITO | expired | Short Put | 2024-08-16 | 2024-08-16 | 0 | 16 | 0 | 1 | 0 | 0 | |
| SPY | open | BPS | 2024-08-06 | 2024-08-16 | 499 | 496 | 0.34 | 1 | 1.41 | 32.59 | $32.59 |
| SPY | expired | BPS | 2024-08-16 | 2024-08-16 | 496 | 499 | 0 | 1 | 0 | 0 | |
| MCD | open | BCS | 2024-08-06 | 2024-09-20 | 280 | 285 | 1.5 | 1 | 1.41 | 148.59 | $71.49 |
| MCD | close | BCS | 2024-08-12 | 2024-09-20 | 285 | 280 | -0.75 | 1 | 2.1 | -77.1 | |
| USO | open | BCS | 2024-08-07 | 2024-09-20 | 69 | 66 | 0.5 | 1 | 1.4 | 48.6 | $21.50 |
| USO | close | BCS | 2024-08-12 | 2024-09-20 | 66 | 69 | -0.25 | 1 | 2.1 | -27.1 | |
| MS | open | BCS | 2024-08-07 | 2024-09-20 | 85 | 82.5 | 0.36 | 1 | 1.4 | 34.6 | $16.20 |
| MS | close | BCS | 2024-08-12 | 2024-09-20 | 82.5 | 85 | -0.17 | 1 | 1.4 | -18.4 | |
| ORCL | open | BPS | 2024-08-09 | 2024-09-20 | 125 | 120 | 1.63 | 1 | 1.41 | 161.59 | $79.19 |
| ORCL | close | BPS | 2024-08-16 | 2024-09-20 | 120 | 125 | -0.81 | 1 | 1.4 | -82.4 | |
| CVX | open | BPS | 2024-08-09 | 2024-09-20 | 140 | 135 | 1.5 | 1 | 1.41 | 148.59 | $72.19 |
| CVX | close | BPS | 2024-08-15 | 2024-09-20 | 135 | 140 | -0.75 | 1 | 1.4 | -76.4 | |
| CSCO | open | Covered Call | 2024-08-12 | 2024-08-16 | 47 | 0 | 0.84 | 1 | 1.05 | 82.95 | $4,782.95 |
| CSCO | assigned | Covered Call | 2024-08-16 | 2024-08-16 | 0 | 47 | 47 | 1 | 0 | 4700 | |
| QQQ | open | BCS (IC) | 2024-08-12 | 2024-08-12 | 454 | 455 | 0.32 | 1 | 1.4 | 30.6 | $34.57 |
| QQQ | close | BCS (IC) | 2024-08-12 | 2024-08-12 | 455 | 454 | 0.05 | 1 | 1.03 | 3.97 | |
| QQQ | open | BPS (IC) | 2024-08-12 | 2024-08-12 | 451 | 450 | 0.22 | 1 | 1.4 | 20.6 | -$20.84 |
| QQQ | close | BPS (IC) | 2024-08-12 | 2024-08-12 | 450 | 451 | -0.4 | 1 | 1.44 | -41.44 | |
| QQQ | open | BCS (IC) | 2024-08-14 | 2024-08-14 | 463 | 464 | 0.36 | 1 | 2.11 | 33.89 | $8.81 |
| QQQ | close | BCS (IC) | 2024-08-14 | 2024-08-14 | 464 | 463 | -0.22 | 1 | 3.08 | -25.08 | |
| QQQ | open | BPS (IC) | 2024-08-14 | 2024-08-14 | 460 | 459 | 0.21 | 1 | 2.1 | 18.9 | $7.82 |
| QQQ | close | BPS (IC) | 2024-08-14 | 2024-08-14 | 459 | 460 | -0.08 | 1 | 3.08 | -11.08 | |
| QQQ | open | BCS (IC) | 2024-08-15 | 2024-08-15 | 472 | 471 | 0.21 | 1 | 3.08 | 17.92 | $10.84 |
| QQQ | close | BCS (IC) | 2024-08-15 | 2024-08-15 | 471 | 472 | -0.04 | 1 | 3.08 | -7.08 | |
| QQQ | open | BPS (IC) | 2024-08-15 | 2024-08-15 | 474 | 475 | 0.33 | 1 | 3.08 | 29.92 | $5.84 |
| QQQ | close | BPS (IC) | 2024-08-15 | 2024-08-15 | 475 | 474 | -0.21 | 1 | 3.08 | -24.08 | |
| SPX | open | BCS (IC) | 2024-08-16 | 2024-08-16 | 5545 | 5550 | 4.78 | 1 | 3.28 | 474.72 | -$25.28 |
| SPX | assigned/exercised | BCS (IC) | 2024-08-16 | 2024-08-16 | 5550 | 5545 | -5 | 1 | 0 | -500 | |
| SPX | open | BPS (IC) | 2024-08-02 | 2024-08-16 | 5545 | 5540 | 0.02 | 1 | 3.1 | -1.1 | -$1.10 |
| SPX | expired | BPS (IC) | 2024-08-16 | 2024-08-16 | 5540 | 5545 | 0 | 1 | 0 | 0 |
- Closed Net Profits/Loss: $686.83
Very nice profits this week.
Got lucky with CSCO, as it had good earnings, and I was able to quickly get out of 100 shares I got assigned last week for fast profits.
Actually, if I just held the shares, I would be up an extra $150 or so right now, but I'm fine with it.
A couple long term strategy positions (V, and COST) I had been holding for a couple months also closed for decent profits.
Notes and Lessons #
Maybe one of my best weeks ever?
The big jump in the market helped me close a bunch of positions out for good profits.
A lot of the bear positions I entered last week (and more this week) are now sitting in losses though, so the next few weeks will probably not be so good.
The market has regained its ultra bullish form, but will it continue? Or, are we going to see another correction soon?
Who knows.