Hello everyone! Today i want to share some option strategies with you!
1.
Haven't had one of these in a while ... finally had a very profitable optionselling week. The bulk of the profit came from trades that were naked/covered calls on $Advanced Micro Devices(AMD)$ $SoFi Technologies Inc.(SOFI)$ $Tesla Motors(TSLA)$ $Taiwan Semiconductor Manufacturing(TSM)$ .
✅ Profit for the week ended April 11th = $26,683.67
In full transparency, last week was horrible from having to roll put positions and close out positions for a loss (didn't want to continue holding those trades or rolling farther out).
❌ Loss for the week ended April 7th = $12,386.81
Managing the current market environment has been challenging ... ain't gonna lie about that. Short options have been proving difficult to manage, but we've been able to weather the storm so far.
A lot of the risk management for the week of April 7th was in closing positions to take risk off the table as well as rolling options to lower strikes. We're not thrilled about holding hostage that buying power for a longer amount of time, but it is what it is ... comes with the territory of writing put options and having to roll the position.
Moving forward, we are probably going to be a bit more cautious and strategic about opening up new options-write trades. We will scale back on position sizing, and we will focus more on getting in-and-out versus holding for worthless expiration. Gotta adjust the strategies and tactics for this new market environment. That said, gotta love the volatility ... makes for great premium capture!
The portfolio still looks ugly though ... need $S&P 500(.SPX)$ back at 6100+ please !!! 🙏🏽
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2.
Shared this on another $Tesla Motors(TSLA)$ trader/investor's post. Might as well share it here. Rolling with the following optionselling positions in TSLA.
- April 17 215P & 330C is a naked strangle (this is a premium capture play)
- Nov 180P is also naked and will trade out of that next week assuming TSLA remains flat at current level or moves up (position is currently in profit)
- Call leaps are 3/4 covered and 1/4 naked (both positions in profit and might close out next week)
- Put leap at 230 strike is cash-secured, but will exit out when in decent profit versus holding until 2027
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Seek for another method to gain profits.
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