Blog
Real trades. Written rules. Every result, red ones included.
For educational and entertainment purposes only, and not investment advice: options carry risk, and nothing here is a recommendation to trade. See the risk disclaimer.
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UPRO fell 5.5% on roll day, and the iPMCC still made $196
UPRO dropped 5.5% on Friday, the day the iPMCC's first weekly call expired. The in-the-money short call absorbed the fall, and the week closed $195.57 up. The rules rolled to a November 6 134 call and moved the long call down to the 110 strike.
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IWM puts: $142 banked in 17 days, and the next put sold
The first IWM put passed its 50% profit target. The rules bought it back at $1.03 for a $142.21 gain in 17 days, and sold a December 267 put for $2.69. The new break-even is $264.32, about 7% below IWM.
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Week 2 review: JNJ is up $818, and the rules still say hold
Two weeks in, the three example campaigns are up $958.58. JNJ ran through its short strike and the rules say hold, the IWM put has made 35% of its credit against a 50% target, and UPRO's long call has drifted out of its delta band.
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An iPMCC on UPRO: selling in-the-money calls every week
A poor man's covered call whose short call lasts a week and is sold in the money. The rules and the first trade on UPRO, the 3× S&P 500 ETF, with about $250 to gain this week at best and the $3,075 debit at risk.
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Week 1 review: VIX jumped 31%, and the rules said hold
One week in, VIX jumped 31% and IWM came within 2.2% of the put's strike. The IWM put is nearly flat, the JNJ pair is up $411 with its short call in the red, and no rule calls for a trade.
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A poor man's covered call on JNJ: the first trade
Covered calls on JNJ without buying the shares: a deep in-the-money call six months out, with a 45-day call sold against it. The rules, the opening trade, the most it can make and lose, and where it stands after the first week.
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Selling IWM puts with tastytrade mechanics: the first trade
A rules-based put-selling campaign on IWM: sell at 45 days out, take profit at 50%, manage at 21 days. The rules, the first trade, and where it stands three days in.