Retired, 450k fun money, lets see what happens - SPY Options

Will I be successful and outperform the S&P 500?

  • Total voters
    50
Last week's trade was never posted. I'm happy to report that my wife and I are now fully vaccinated and to celebrate we had a little getaway up in the mountains. I've been somewhat separated from the markets and news headlines this past week but it seems the market had a pretty bad reaction to inflationary concerns. I think its overstated and the market will continue to rally. At least that's how I'm positioning my account. My personal bias is as long as you're not loaded up on high growth stocks with exorbitant PE ratios, you should be alright.

5/7/21: +$1296
SOLD -12 DIAGONAL SPY 100 (Weeklys) 14 MAY 21/7 MAY 21 415/412 PUT @1.08

5/14/21: +$3156
SOLD -12 CALENDAR SPY 100 21 MAY 21/14 MAY 21 415 PUT @2.63

Currently my account is sitting at $514,956.56, up 12.9% from 11/16/20 when I began. SPY is up 15.7%, so I'm still lagging behind the index by 2.8%.
 
Wise Old Man said:
Last week's trade was never posted. I'm happy to report that my wife and I are now fully vaccinated and to celebrate we had a little getaway up in the mountains. I've been somewhat separated from the markets and news headlines this past week but it seems the market had a pretty bad reaction to inflationary concerns. I think its overstated and the market will continue to rally. At least that's how I'm positioning my account. My personal bias is as long as you're not loaded up on high growth stocks with exorbitant PE ratios, you should be alright.

5/7/21: +$1296
SOLD -12 DIAGONAL SPY 100 (Weeklys) 14 MAY 21/7 MAY 21 415/412 PUT @1.08

5/14/21: +$3156
SOLD -12 CALENDAR SPY 100 21 MAY 21/14 MAY 21 415 PUT @2.63

Currently my account is sitting at $514,956.56, up 12.9% from 11/16/20 when I began. SPY is up 15.7%, so I'm still lagging behind the index by 2.8%.
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What's your general rule for selecting the strike in a Calendar Spread?
 
SoCal1Trader said:
What's your general rule for selecting the strike in a Calendar Spread?
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Generally I'm looking to get in (sell puts) around the 20 day moving average and get out (sell calls) around prior highs.

Friday I was assigned on my 415 puts, so I'm currently long 1200 SPY shares @ 415. I sold calls against them this morning looking to exit at 421. I'm hoping to get assigned on those calls this week. Hopefully this recent volatility continues...

+$1272
SOLD -12 SPY 100 (Weeklys) 28 MAY 21 421 CALL @1.06
 
SoCal1Trader said:
How about wheeling IWM options?
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I could add IWM and QQQ to the mix but I don't really feel comfortable owning small caps or tech if and when a big downturn in the market takes place... especially with the inflationary fears looming. If the market were to crash, I would be perfectly content holding SPY for a few years waiting for it to recover.

+$1896
SOLD -12 CALENDAR SPY 100 (Weeklys) 4 JUN 21/28 MAY 21 421 CALL @1.58
 
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