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

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

  • Total voters
    50
Wise Old Man said:
My current net liq is $506,129.14, so after all commissions I'm up $50,011.02 = 10.96%. SPY closed today at 406.36, so I'm still underperforming the S&P 500 by 1.89%
More...

speaking as a 74 year old senior, I'm impressed

way to go ... well done, keep it up, find what works best for you with minimum risk & as a suggestion, please keep posting at the end of each week (end of day Friday/weekend) your weeks performance, not your daily trades.

so lets say - adjust the numbers accordingly

week 13 net after commissions 10.96%
week 12 net after commissions 9.8%
week 11 net after commissions 8.1%
etc etc

then number of trades in the last week are xxxx
 
never2old said:
speaking as a 74 year old senior, I'm impressed

way to go ... well done, keep it up, find what works best for you with minimum risk & as a suggestion, please keep posting at the end of each week (end of day Friday/weekend) your weeks performance, not your daily trades.

so lets say - adjust the numbers accordingly

week 13 net after commissions 10.96%
week 12 net after commissions 9.8%
week 11 net after commissions 8.1%
etc etc

then number of trades in the last week are xxxx
More...
I appreciate that. And just to clarify the numbers I just posted are from when I started the journal in November 2020, not just 2021. I can start giving more regular profit updates. It’s always going to be 1 trade per week. I haven’t found the Monday/Wednesday SPY options expirations to bring in enough premium for it to be worth trading. We’ll see how 2021 plays out.
 
Buy1Sell2 said:
He does??
More...

Yes he's making money (so long as we are in a bull market), but much less had he simply went LONG and HOLD. Investors/traders who uses this short PUT writing/selling strategy are the ones who likes to sleep well at night. ;-)
 
never2old said:
why have you chosen to doing risky single leg or diagonals?

have you/are you doing simultaneous weekly OTM vertical spreads on both call & put?
More...

The multi leg trades are always buy to close and sell to open. The end result are 12 cash secured puts. The only reason I sold puts alone on Monday instead of a diagonal is because my short puts expired OTM last week.
 
never2old said:
I trade the 3x TQQQ, I do it because I understand it & because I bought my first round in July 2010.

https://www.splithistory.com/tqqq/

on the recent split 01/21/2021 a 2 for 1, at split price it was trading ~$100.

on that same day I looked at the ATM covered call expiring Jan 2022 was paying $29, that's 29% on the CC with a downside to $71.

some will say its crazy to trade 3x - are not suppose to be long term

does ^^^ make sense, is the strategy doable, are my numbers correct?

the added bonus is the trader could use the option premium to go back in buy more shares & option again or use multiples of $100k to do this type of trade.

even buying just 100 shares

there is also selling DITM long cc for a lesser % return on money at risk, yet this gives a better downside protection.

pre 2:1 split in 2021, on 2 Jan 2020 TQQQ was trading at ~$90.84, in March it hit a low of ~$35.50, ending 2020 at ~$181.80.
More...

Hi, do you daytrade this? or do you keep it longer term? How do you time your entries and exits?
 
You must log in or register to reply here.
Back
Top