Bull market returns + 0DTE experiements - Weekly summary (Aug 19 - Aug 24)
The ridiculous bull market has returned.
All the bear positions I took a couple weeks ago are now eating sh*t.
It's ok though, because most of the positions are really small. Shows the importance of managing risk.
Also traded a 0DTE position almost everyday this week. Was profitable, but still experimenting/researching a bit more before I set a strategy.
Here are the trades of last week:
Opened #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| V | open | BPS | 2024-08-19 | 2024-11-15 | 240 | 230 | 0.81 | 1 | 1.41 | 79.59 |
| SPY | open | BCS | 2024-08-19 | 2024-09-13 | 560 | 561 | 0.53 | 1 | 2.12 | 50.88 |
| QQQ | open | BCS (IC) | 2024-08-20 | 2024-08-20 | 481 | 482 | 0.34 | 1 | 2.1 | 31.9 |
| QQQ | open | BPS (IC) | 2024-08-20 | 2024-08-20 | 478 | 477 | 0.23 | 1 | 2.1 | 20.9 |
| ROKU | open | BCS | 2024-08-21 | 2024-09-20 | 65 | 68 | 0.977 | 1 | 1.41 | 96.29 |
| SPY | open | BPS | 2024-08-21 | 2024-08-30 | 545 | 542 | 0.29 | 1 | 1.4 | 27.6 |
| QQQ | open | BCS (IC) | 2024-08-21 | 2024-08-21 | 484 | 485 | 0.22 | 1 | 2.1 | 19.9 |
| QQQ | open | BPS (IC) | 2024-08-21 | 2024-08-21 | 481 | 480 | 0.34 | 1 | 2.1 | 31.9 |
| SPY | open | BCS | 2024-08-21 | 2024-09-20 | 567 | 568 | 0.44 | 1 | 1.42 | 42.58 |
| QQQ | open | BCS (IC) | 2024-08-22 | 2024-08-22 | 483 | 484 | 0.38 | 1 | 3.08 | 34.92 |
| QQQ | open | BPS (IC) | 2024-08-22 | 2024-08-22 | 480 | 479 | 0.18 | 1 | 3.08 | 14.92 |
| QQQ | open | BCS | 2024-08-22 | 2024-09-20 | 482 | 485 | 1.51 | 1 | 1.43 | 149.57 |
| QQQ | open | BCS (IC) | 2024-08-23 | 2024-08-23 | 479 | 480 | 0.4 | 1 | 1.4 | 38.6 |
| QQQ | open | BPS (IC) | 2024-08-23 | 2024-08-23 | 477 | 476 | 0.31 | 1 | 1.4 | 29.6 |
Made four 0DTE trades. All on QQQ. More analysis below.
Bear position on ROKU almost instantly turned against me into a loss. Who the hell uses roku anyways?? 🤨
Closed / Expired: #
Other trades #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IWM | open | BCS | 2024-07-10 | 2024-08-23 | 207 | 208 | 0.35 | 1 | 1.27 | 33.73 | -$66.27 |
| IWM | assigned/exercised | BCS | 2024-08-23 | 2024-08-23 | 208 | 207 | -1 | 1 | 0 | -100 | |
| V | open | BPS | 2024-07-17 | 2024-10-18 | 250 | 240 | 1.2 | 1 | 2.11 | 117.89 | $28.79 |
| V | close | BPS | 2024-08-23 | 2024-10-18 | 240 | 250 | -0.87 | 1 | 2.1 | -89.1 | |
| PG | open | BPS | 2024-07-27 | 2024-10-18 | 155 | 150 | 0.5 | 2 | 1.4 | 98.6 | $45.12 |
| PG | close | BPS | 2024-08-20 | 2024-10-18 | 150 | 155 | -0.26 | 2 | 1.48 | -53.48 | |
| SPY | open | BPS | 2024-08-13 | 2024-08-23 | 518 | 515 | 0.32 | 1 | 1.4 | 30.6 | $30.60 |
| SPY | expired | BPS | 2024-08-23 | 2024-08-23 | 515 | 518 | 0 | 1 | 0 | 0 | |
| QQQ | open | BCS (IC) | 2024-08-20 | 2024-08-20 | 481 | 482 | 0.34 | 1 | 2.1 | 31.9 | $7.80 |
| QQQ | close | BCS (IC) | 2024-08-20 | 2024-08-20 | 482 | 481 | -0.22 | 1 | 2.1 | -24.1 | |
| QQQ | open | BPS (IC) | 2024-08-20 | 2024-08-20 | 478 | 477 | 0.23 | 1 | 2.1 | 20.9 | $15.80 |
| QQQ | close | BPS (IC) | 2024-08-20 | 2024-08-20 | 477 | 478 | -0.03 | 1 | 2.1 | -5.1 | |
| QQQ | open | BCS (IC) | 2024-08-21 | 2024-08-21 | 484 | 485 | 0.22 | 1 | 2.1 | 19.9 | $4.80 |
| QQQ | close | BCS (IC) | 2024-08-21 | 2024-08-21 | 485 | 484 | -0.13 | 1 | 2.1 | -15.1 | |
| QQQ | open | BPS (IC) | 2024-08-21 | 2024-08-21 | 481 | 480 | 0.34 | 1 | 2.1 | 31.9 | $17.80 |
| QQQ | close | BPS (IC) | 2024-08-21 | 2024-08-21 | 480 | 481 | -0.12 | 1 | 2.1 | -14.1 | |
| QQQ | open | BCS (IC) | 2024-08-22 | 2024-08-22 | 483 | 484 | 0.38 | 1 | 3.08 | 34.92 | $34.92 |
| QQQ | close | BCS (IC) | 2024-08-22 | 2024-08-22 | 484 | 483 | 0 | 1 | 0 | 0 | |
| QQQ | open | BPS (IC) | 2024-08-22 | 2024-08-22 | 480 | 479 | 0.18 | 1 | 3.08 | 14.92 | -$85.08 |
| QQQ | close | BPS (IC) | 2024-08-22 | 2024-08-22 | 479 | 480 | -1 | 1 | 0 | -100 | |
| QQQ | open | BCS (IC) | 2024-08-23 | 2024-08-23 | 479 | 480 | 0.4 | 1 | 1.4 | 38.6 | $13.52 |
| QQQ | close | BCS (IC) | 2024-08-23 | 2024-08-23 | 480 | 479 | -0.22 | 1 | 3.08 | -25.08 | |
| QQQ | open | BPS (IC) | 2024-08-23 | 2024-08-23 | 477 | 476 | 0.31 | 1 | 1.4 | 29.6 | $13.52 |
| QQQ | close | BPS (IC) | 2024-08-23 | 2024-08-23 | 476 | 477 | -0.13 | 1 | 3.08 | -16.08 |
- Closed Net Profits/Loss: $61.32
Tiny profit. Better than nothing!
Closed an old V position early for tiny profit. I opened a new position at the beginning of the week, so didn't want too much exposure on the same company. Kind of regret it, should have just let it run.
Almost everything else was 0DTE experimenting.
Notes and Lessons #
Very mildly profitable week. Been reading a bunch of stuff about 0DTE so decided to jump in.
ODTE #
Made $23 from my 0DTE trades 😂. All of my trades have been selling iron condors on QQQ, with about 50%+ probability of max profit and 100%+ return.
Made a trade everyday except Monday.
Trying to keep it consistent, so all of my trades this week have been between 10:50 ~ 11:00. No reason why I chose this time; just happened to be the time I placed the first trade, so decided to stick with it.
After doing some research, it seems time decay accelerates a lot after 13:00. So next week, I might try entering trades a bit later to take advantage of this.
Have also been closing my trades early, if it hits 50% profit. Not sure if this is the best option, or if I should just let it run to expiry.