7/11: Open positions: SPY: $1,296 SH: -$176 Net for this trade: $550.64 (estimated dividend payment) $1,120 (net SPY/SH position) ----------------------------- $1,670.64 SPY closed 2 cents higher than yesterday and SH closed at the same price as yesterday so only the SPY position value changed today.
6/12: Open positions: SPY: $776 SH: $11 Net for this trade: $550.64 (estimated dividend payment) $787 (net SPY/SH position) ----------------------------- $1,337.64
^ I just realized I made a typo in that post and it should say 7/12 instead of 6/12, and it's too late for me to edit it now.
7/13: Open positions: SPY: $2,568 SH: -$660 Net for this trade: $550.64 (estimated dividend payment) $1,908 (net SPY/SH position) ----------------------------- $2,458.64
7/16: Open positions: SPY: $2,312 SH: -$594 Net for this trade: $550.64 (estimated dividend payment) $1,718.00 (net SPY/SH position) ----------------------------- $2,268.64
7/17: Open positions: SPY: $3,056 SH: -$880 Net for this trade: $550.64 (estimated dividend payment) $2,176.00 (net SPY/SH position) ----------------------------- $2,726.64
7/18: Open positions: SPY: $3,864 SH: -$1,144 Net for this trade: $550.64 (estimated dividend payment) $2,720.00 (net SPY/SH position) ----------------------------- $3,270.64
Getting close, I think. I've been running some numbers to see what my options are for closing this position by selling ITM Aug SH calls. Let's say I sold 11 Aug $34 calls for $2.55. That's $2,805 premium and if price keeps going up I will keep making money on SPY and if SH happens to close below $34 then I can close the position anyway and pocket the premium (vs closing the position anyway but not having the premium). If SPY reverses and goes back down, SH may turn profitable but that won't matter because I will be forced to sell it at $34 for a loss of -$3,454 which won't offset the premium I received, and my SPY will be worth less at that point. Or I may just close the position outright by selling all my SPY and SH.