OptionalSpy
股市縱橫學習日記
正文
Real Money result:$1.2 premium collected. with 1x, that's $120
Lesson:
(1) The buying time frame is on Monday and it's trail with 20C, this reduces the premium from $2.8 to $1.9 just over the weekend and a gap up on Monday.
(2) Closed position on OE day afternoon when SPY goes below the striking price ($110) for almost a dollar ($109.20). However later afternoon it bounced up to $110.25. Just above the striking price. This is a perfect month if I didn't close it prematurely. I should stick to the original plan and leave it to be assigned even if it goes below the strike. This collects the maximum premium.
Paper Money result: #2.02 premium collected. with 20x, that's $4040. Great return for a bad start of the month.
(1) with 2x and TOS supports 4x, it will unlikely to trigger margin call this way.
(2) Leave it expire on OE day. Don't close it.
Adjustment:
(1) Sell option on OE day after close within 15 minutes. Take advantage of this special time window to collect more premium. Because at this point whether I will be assigned or not is determined by the close price and will not change any more. It doesn't involve any special risk.
(2) Leave option to expire, don't buy it back.
(3) Some detailed research indicates the premium is extremely tiny for the last bull market (1.5%) less than ideal 2.5%. Anything less than 2% will put this strategy in jeopardy. This probably is the main reason the strategy is not so successful for others in the past. This also indicates when the bull market is common sense, the premium may drop dramatically. So I may have to roll up the strategy faster than originally planed. Consider to scale up to 10x in 6 months and 20x in 12 months. Don't ignore any good opportunities to scale up. The opportunity is when SPY retreats to daily 50SMA, weekly 15EMA, especially Monthly 15EMA.
Next month plan:
Real Money:
(1) Sell 3x on OE Day(Done).
(2) Prepare 20K in bank account if it's possibly assigned. (Done)
(3) When assigned, sell covered call can only be 1x. sell naked put 1x to combine as 2x. Research if this is allowed.
Paper Money:
(1) sell 1x every 5000. With the profits, it may grow 1x organically every month.
Lesson:
(1) The buying time frame is on Monday and it's trail with 20C, this reduces the premium from $2.8 to $1.9 just over the weekend and a gap up on Monday.
(2) Closed position on OE day afternoon when SPY goes below the striking price ($110) for almost a dollar ($109.20). However later afternoon it bounced up to $110.25. Just above the striking price. This is a perfect month if I didn't close it prematurely. I should stick to the original plan and leave it to be assigned even if it goes below the strike. This collects the maximum premium.
Paper Money result: #2.02 premium collected. with 20x, that's $4040. Great return for a bad start of the month.
(1) with 2x and TOS supports 4x, it will unlikely to trigger margin call this way.
(2) Leave it expire on OE day. Don't close it.
Adjustment:
(1) Sell option on OE day after close within 15 minutes. Take advantage of this special time window to collect more premium. Because at this point whether I will be assigned or not is determined by the close price and will not change any more. It doesn't involve any special risk.
(2) Leave option to expire, don't buy it back.
(3) Some detailed research indicates the premium is extremely tiny for the last bull market (1.5%) less than ideal 2.5%. Anything less than 2% will put this strategy in jeopardy. This probably is the main reason the strategy is not so successful for others in the past. This also indicates when the bull market is common sense, the premium may drop dramatically. So I may have to roll up the strategy faster than originally planed. Consider to scale up to 10x in 6 months and 20x in 12 months. Don't ignore any good opportunities to scale up. The opportunity is when SPY retreats to daily 50SMA, weekly 15EMA, especially Monthly 15EMA.
Next month plan:
Real Money:
(1) Sell 3x on OE Day(Done).
(2) Prepare 20K in bank account if it's possibly assigned. (Done)
(3) When assigned, sell covered call can only be 1x. sell naked put 1x to combine as 2x. Research if this is allowed.
Paper Money:
(1) sell 1x every 5000. With the profits, it may grow 1x organically every month.
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