Some wins - Weekly summary (Nov 11 - Nov 15)
Market had a decent pull back after the insane post-election run up last week.
I managed to close a few of positions for profit, which was nice.
Bitcoin also boomed, which helped close some long held BITO position.
Also, finally had a profitable week trading 0DTE.
Here are the trades from last week:
Opened: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net |
|---|---|---|---|---|---|---|---|---|---|---|
| F | open | Covered Call | 2024-11-11 | 2024-11-15 | 11 | 0 | 0.27 | 1 | 0.75 | 26.25 |
| BITO | open | Covered Call | 2024-11-11 | 2024-11-15 | 24 | 0 | 0.3 | 1 | 1.06 | 28.94 |
| SPY | open | BCS | 2024-11-11 | 2024-12-20 | 603 | 604 | 0.51 | 1 | 2.13 | 48.87 |
| EEM | open | Short Put | 2024-11-13 | 2024-11-15 | 43 | 0 | 0.18 | 1 | 1.04 | 16.96 |
Have been looking at trading more short put options (i.e. naked puts / margin secured puts), and covered calls instead of just spreads.
It has worked out OK so far, but hard to not get carried away and sell puts on everything.
Closed / Expired: #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BITO | open | Short Put | 2024-07-26 | 2024-08-02 | 22 | 0 | 0.8 | 1 | 1.05 | 78.95 | -$2,121.05 |
| BITO | assigned | Short Put | 2024-11-15 | 2024-08-02 | 0 | 22 | -22 | 1 | 0 | -2200 | |
| BITO | open | Covered Call | 2024-08-12 | 2024-09-06 | 22 | 0 | 0.33 | 1 | 0.8 | 32.2 | $32.20 |
| BITO | expired | Covered Call | 2024-11-15 | 2024-09-06 | 0 | 22 | 0 | 1 | 0 | 0 | |
| PG | open | BPS | 2024-09-20 | 2024-12-20 | 160 | 155 | 0.5 | 2 | 1.34 | 98.66 | $57.25 |
| PG | close | BPS | 2024-11-15 | 2024-12-20 | 155 | 160 | -0.2 | 2 | 1.41 | -41.41 | |
| XSP | open | BCS | 2024-10-01 | 2024-11-15 | 581 | 582 | 0.49 | 1 | 1.52 | 47.48 | -$52.52 |
| XSP | assigned/exercised | BCS | 2024-11-15 | 2024-11-15 | 582 | 581 | -1 | 1 | 0 | -100 | |
| XSP | open | BCS | 2024-10-03 | 2024-11-15 | 579 | 580 | 0.52 | 1 | 1.52 | 50.48 | -$49.52 |
| XSP | assigned/exercised | BCS | 2024-11-15 | 2024-11-15 | 580 | 579 | -1 | 1 | 0 | -100 | |
| SPY | open | BCS | 2024-10-04 | 2024-11-15 | 577 | 578 | 0.559999999999999 | 1 | 2.15 | 53.8499999999999 | -$46.15 |
| SPY | assigned/exercised | BCS | 2024-11-15 | 2024-11-15 | 578 | 577 | -1 | 1 | -100 | ||
| SPY | open | BCS | 2024-10-10 | 2024-11-15 | 583 | 584 | 0.52 | 1 | 2.13 | 49.87 | -$50.13 |
| SPY | assigned/exercised | BCS | 2024-11-15 | 2024-11-15 | 584 | 583 | -1 | 1 | -100 | ||
| XLB | open | BCS | 2024-10-23 | 2024-12-20 | 97 | 98 | 0.51 | 1 | 0.61 | 50.39 | $23.28 |
| XLB | close | BCS | 2024-11-12 | 2024-12-20 | 98 | 97 | -0.25 | 1 | 2.11 | -27.11 | |
| F | open | Long | 2024-11-06 | - | 0 | 11.038 | -11.038 | 1 | 1 | -1104.8 | -$1,089.80 |
| F | dividend | Long | 2024-11-15 | - | 0 | 0 | 0.15 | 1 | 15 | ||
| F | open | Covered Call | 2024-11-07 | 2024-11-08 | 11 | 0 | 0.15 | 1 | 1.44 | 13.56 | $13.56 |
| F | expired | Covered Call | 2024-11-15 | 2024-11-08 | 0 | 11 | 0 | 1 | 0 | 0 | |
| F | open | Covered Call | 2024-11-11 | 2024-11-15 | 11 | 0 | 0.27 | 1 | 0.75 | 26.25 | $1,126.25 |
| F | assigned | Covered Call | 2024-11-15 | 2024-11-15 | 0 | 11 | 11 | 1 | 0 | 1100 | |
| BITO | open | Covered Call | 2024-11-11 | 2024-11-15 | 24 | 0 | 0.3 | 1 | 1.06 | 28.94 | $2,428.94 |
| BITO | assigned | Covered Call | 2024-11-15 | 2024-11-15 | 24 | 0 | 24 | 1 | 0 | 2400 | |
| SPY | open | BCS | 2024-11-11 | 2024-12-20 | 603 | 604 | 0.51 | 1 | 2.13 | 48.87 | $21.76 |
| SPY | close | BCS | 2024-11-15 | 2024-12-20 | 604 | 603 | -0.25 | 1 | 2.11 | -27.11 |
- Closed Net Profits/Loss: $294.07
0DTE Trades #
This past week, I decided to take profits early on all my 0DTE trades. It worked out, as I "won" every trade.
If I had not taken profits early, I would have definitely loss on at least one of the trades, but I think would have actually made more in the end.
So, is it worth it to take profits early?
Psychologically, it's definitely easier, but from a straight numbers perspective, not sure yet.
Will experiment more next week.
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SPX | open | BCS | 2024-11-11 | 2024-11-11 | 6010 | 6040 | 1 | 1 | 3.19 | 96.81 | $43.71 |
| SPX | close | BCS | 2024-11-11 | 2024-11-11 | 6040 | 6010 | -0.5 | 1 | 3.1 | -53.1 | |
| SPX | open | BCS | 2024-11-12 | 2024-11-12 | 5955 | 5925 | 1 | 1 | 3.19 | 96.81 | $43.71 |
| SPX | close | BCS | 2024-11-12 | 2024-11-12 | 5925 | 5955 | -0.5 | 1 | 3.1 | -53.1 | |
| SPX | open | BPS | 2024-11-13 | 2024-11-13 | 5950 | 5985 | 1 | 1 | 3.39 | 96.61 | $43.51 |
| SPX | close | BPS | 2024-11-13 | 2024-11-13 | 5985 | 5950 | -0.5 | 1 | 3.1 | -53.1 | |
| SPX | open | BCS | 2024-11-14 | 2024-11-14 | 5990 | 6020 | 0.9 | 1 | 3.19 | 86.81 | $38.71 |
| SPX | close | BCS | 2024-11-14 | 2024-11-14 | 6020 | 5990 | -0.45 | 1 | 3.1 | -48.1 | |
| SPX | open | BCS | 2024-11-15 | 2024-11-15 | 5900 | 5935 | 0.9 | 1 | 3.19 | 86.81 | $28.71 |
| SPX | close | BCS | 2024-11-15 | 2024-11-15 | 5935 | 5900 | -0.55 | 1 | 3.1 | -58.1 |
-
0DTE Closed Net Profits/Loss: $198.35
-
TOTAL WEEKLY NET PROFITS/LOSS: $492.42 😎
Notes and Lessons #
My best week in a while.
Main wins were from 0DTE trades, and a BITO short put/covered call play which took around 3 months:
BITO trade #
| Ticker | Action | Type | Date | Expiry | Sell Strike | Buy Strike | Premium | Qty | Fee | Net | Profit/Loss |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BITO | open | Short Put | 2024-07-26 | 2024-08-02 | 22 | 0 | 0.8 | 1 | 1.05 | 78.95 | -$2,121.05 |
| BITO | assigned | Short Put | 2024-11-15 | 2024-08-02 | 0 | 22 | -22 | 1 | 0 | -2200 | |
| BITO | open | Covered Call | 2024-08-12 | 2024-09-06 | 22 | 0 | 0.33 | 1 | 0.8 | 32.2 | $32.20 |
| BITO | expired | Covered Call | 2024-11-15 | 2024-09-06 | 0 | 22 | 0 | 1 | 0 | 0 | |
| BITO | open | Covered Call | 2024-11-11 | 2024-11-15 | 24 | 0 | 0.3 | 1 | 1.06 | 28.94 | $2,428.94 |
| BITO | assigned | Covered Call | 2024-11-15 | 2024-11-15 | 24 | 0 | 24 | 1 | 0 | 2400 |
I got assigned on my 22 strike short put back in August. I sold one covered call on the shares before the price dropped drastically over the next couple months, so I was not able to sell any more for awhile.
The price finally rebounded the last couple weeks, so I sold a covered call at $24. The price closed at just over $24 this past week, so I got assigned and sold my 100 shares for a nice little capital gain.
In total, I made a profit of $340 on this trade (although it took 3+ months).
BITO also pays a huge monthly dividend, which I did not include in my profits.
For my 100 shares, I received around $328 in dividend for the past 3 months (September, October, November).
So, in total, this trade actually netted me over $600!
To be honest, I am not completely sure how BITO works. It was supposed to track the price of bitcoin, although it has not been doing that very well. Bitcoin is at an all-time high right now, but BITO is well off it's all-time high.
I am still bullish on BTC long term, but it seems a bit risky to hold too many shares of this ETF, so will continue to keep my position small (despite the huge dividend).