To The Moon

Personally, August has been a good month for me despite seeing many people around me struggling in August. 

How did I do this month?

My portfolio gained 9.43%, beating $SPDR S&P 500 ETF Trust(SPY)$  by 6.75%.

I am satisfied with all my selling puts trades as they have made me the most profit.

I made 44 trades this month, with 88.64% winning rates. 

$Applied Materials(AMAT)$  puts made me the most profit this month, followed by $Rocket Lab USA, Inc.(RKLB)$  ,$Vertiv Holdings LLC(VRT)$   and $EchoStar(ECHO)$  .

I bought $Analog Devices(ADI)$  call because I am leaning toward bullish but this decision turned out differently from what I originally expected. The price showed no momentum and iv was dropping fast. I decided to cut my losses, ending the trade as my biggest loss of the month. 

Biggest takeaway from this month is I will buy stocks that I am bullish on and remain neutral for any options trades.

Trading Takeaways 

The above are all my options trade this month. As you can see, I am doing the sell put strategy on stocks that are near their earnings. This is a very risky strategy as post earnings might lead to the stock price going either ways. I minimise my risk by finding technical support and selling put at strike price below the support. Since IV is high pre earnings and typically the IV falls after, the puts usually fall in price even if the post earnings lead to stock price falling. This means that I have very high chances of profit without guessing the direction.

If I could go back to the beginning of August, i would just stick to my selling options strategy as looking back, it gave me the most profit.

September Outlook

I am watching the semiconductor and memory stocks the most closely as volatility is great for options sellers like me.

I will continue to use the same trading strategy in September and hopefully the market cooperates and continues to let me earn my small shares of profits. 

This is an self reflection post for educational purposes and not financial advice.

@Tiger_SG @TigerStars @Daily_Discussion @Tiger_comments [Smile]