Options positions this week. Took this picture earlier today around 10AM. $72P expired worthless and $74P I bought back for $1 before the market closed. Flat again going into next week. Will update on my next post the profit from the TQQQ positions that I sold in the premarket Monday. The position was actually worth $2.8M instead of $2.4M when I was adding the total earlier. Keep grinding.
Got assigned a ton of TQQQ Friday with that drop in the last 2 minutes of Market open due to Russell rebalancing. Look at my previous post here in r/TQQQ for more context. Sold everything premarket. No strategy here, just dumb luck. Keep grinding.
Updated June and YTD total. Look at my previous post for full context. Keep grinding on the race to $10M.
Wrapping up June a bit early since I’m busy on service with my day job. It’s been an excellent month overall. Feel free to check my post history here on r/TQQQ for full context. Caught some great moves. Closed my puts early on the June 5 dip and losing less, initiated a Buy-Write on June 10, rolled the Calls up twice, let it get assigned and locked in profits on the rest before the drop. Only blemish was getting assigned my $72 puts last Friday. Didn’t expect the Russell rebalancing and subsequent $1 dump in TQQQ 2 minutes before close. I’m now a proud holder of $2.4M worth of TQQQ.
Pulled these screenshots directly from Fidelity (edited out the total balance for privacy). Fidelity users here will know the Performance tab doesn’t perfectly mirror the account balances. On top of that, these figures actually exclude my Brokeragelink account since Fidelity leaves it out of the main Performance tab metrics.
If you’re seeing this for the first time. I have been posting my updates since January for personal accountability. It forces consistency, keeps me disciplined and prevents me from getting lazy or deviating from my strategy. Not selling anything. Keep grinding.
Took these photos of my positions in the last 5 mins of market open before that $1 drop in the TQQQ due to the Russell rebalancing. BTW, Fidelity uses a different background shade for options sold same day. I added some on my prior positions (posted earlier) so everything has the same background shade.
Only positions going to expiration today. TQQQ current at $72 in the premarket so this is under threat. I was sure this was easy money after MU earnings blowout but the tape yesterday was bad. I’m thinking of whether I will roll this down or just take the loss. Made $28K so far this week but this will probably cut that significantly. Mods took down my post of my result for June so far, maybe it’s the new graphics. I might switch back to the Fidelity version. Currently up over $760K for June having caught the dip in early June. I’m not selling anything and my post are real screenshots in my Fidelity accounts.
Real time: I am long a bear put spread with $40K in premium ahead of MU earnings and PCE. No other positions for the week. I think TQQQ goes back to $70. I posted my P/L so far for June.
Edit: I made money ($28K) on this trade because I closed it after it went my way. Just got busy with work so didn’t get to update it earlier and was actually surprised at the amount of engagement. I guess the quickest way to attract stock market experts is to be publicly wrong after the fact.
I sell Puts on LETFs like TQQQ. Have been posting my race to $10M here on/off. Caught the dip in TQQQ plus extra from doing Covered Calls. Closed all my positions last Thursday. See my previous post for more information. Keep grinding.
Fully flat after locking some massive gains on TQQQ. Thursday’s bounce was the ideal exit window, especially since holding TQQQ with CC causes bigger swings than selling Puts. Still trying to figure out why the Fidelity graph doesn’t match the actual performance. Got lucky twice: doing Buy-Write at the right time plus taking a loss early on my Puts during the Friday crash. Hope you like the new graphics. Keep grinding.
For those seeing this for the first time: I’ve been sharing my journey since January as a way to force some self-discipline and accountability. I get lazy sometimes or ignore my strategy and posting here on RDDT forces me to stick to the plan and stay consistent.
I was up about $24K until June 4 when the market dropped by a lot Friday June 5. I took a loss early fortunately around 10:30ish AM, posted that in another comment instead of rolling it down and out. $24K gain turned into almost $50K loss. Started buying TQQQ and writing Calls last Wed, posted that here at the same time. Obviously good premiums given the high IV. Rolled my Calls for next week, got anywhere from $0.6 to $1 in premiums. Let see what happens, if it goes far beyond my strikes I will probably let it get called but who knows. Also got $8700 in SPAXX dividend. Will definitely see that go down next month since I using my core to hold TQQQ. Keep grinding.
I think that it’s better to do a Buy Write here with strikes in the high 70s compared to my usual strategy of selling puts.
Final tally for May. Sold $75, $73 and $78 Puts the past 3 weeks respectively. Strike price really didn’t matter in the end since the Market just kept grinding higher. I know people say it’s picking pennies in front of a steamroller but if you do it consistently then what you’ve made will pay for the inevitable times where you get caught in a dip. It happened to me in Feb/March but I was never underwater for the year but did give up some on my earlier gains. Made another $8713 in dividends from my core positions in SPAXX.
Some on my Puts expiring today. Have about $25K in premiums expiring this week. May has been fairly benign given the low volatility. I will post my overall results at end of the month as usual. Keep grinding.
If you’re seeing this for the first time. I’ve been posting my results since January mainly for my own accountability. I get lazy sometimes and not set time to do my trades or not follow my strategy. This forces me to do it consistently because I’m showing it here in RDDT. I sell OTM Puts on TQQQ mostly. The strategy was stress tested in February/March and loss money but held up well.
I’m a Grinder, appropriate since it’s start of the WSOP. I sell weeklies on TQQQ and harvest Theta decay. Been posting consistently since January. I have another $25 K in premiums this week on my TQQQ Puts. Not exactly an exciting market strategy amid a surging stock market rally. Keep grinding for the few of us left.
I did not trade the first week. I had some underwater $75P last week that I rolled down for a small credit. Given that, the amount here doesn’t reflect what I’m really making, only $36K. Will let these expire instead of rolling again. Still doing the same thing over and over. I prefer options expiring worthless pain free but there’s some satisfaction in fighting through a losing trade.
Positions going into expiration tomorrow. Made back the losses from February and March plus more.