speaking as a 74 year old senior, I'm impressed way to go ... well done, keep it up, find what works best for you with minimum risk & as a suggestion, please keep posting at the end of each week (end of day Friday/weekend) your weeks performance, not your daily trades. so lets say - adjust the numbers accordingly week 13 net after commissions 10.96% week 12 net after commissions 9.8% week 11 net after commissions 8.1% etc etc then number of trades in the last week are xxxx
I appreciate that. And just to clarify the numbers I just posted are from when I started the journal in November 2020, not just 2021. I can start giving more regular profit updates. It’s always going to be 1 trade per week. I haven’t found the Monday/Wednesday SPY options expirations to bring in enough premium for it to be worth trading. We’ll see how 2021 plays out.
why have you chosen to doing risky single leg or diagonals? have you/are you doing simultaneous weekly OTM vertical spreads on both call & put?
Yes he's making money (so long as we are in a bull market), but much less had he simply went LONG and HOLD. Investors/traders who uses this short PUT writing/selling strategy are the ones who likes to sleep well at night. ;-)
The multi leg trades are always buy to close and sell to open. The end result are 12 cash secured puts. The only reason I sold puts alone on Monday instead of a diagonal is because my short puts expired OTM last week.
+$768 SOLD -12 DIAGONAL SPY 100 16 APR 21/9 APR 21 399/394 PUT @.64 Quite the rally this past week. From 11/2020 - present: +11.1%