Make Money Trading Monthly Options, $3370 This Month
Make Money Trading Monthly Options
I have written previous blog post on how to make money trading monthly options. I display the positions I have for that month using primarily secured put and covered call strategies. My aim is two-fold for the laymen reader which is you can achieve monthly cash-flow via options trading. Also, that it pays to do two things, most of all is save your money; therefore, creating an opportunity to generate more money for yourself and/or your family and to educate yourself on how to use money to invest.
Trading Options Secured Put and Covered Call
Trading Options Secured Put and Covered Call Cont’d
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I Made $420 In A Week Off Selling Put Option on Netflix
In the blog post, “You Have Options”, I shared my previous months options trades. In this post, I show the trades I entered for this month which are either a continuation of or a new position. Options will expire on the 3rd Friday in August, unless I close early, roll up, roll out, or roll up and out of a position. Furthermore, I display the position taken in companies by their stock ticker symbol, i.e. ACIA:
Covered Call
- Sell 2 ACIA AUG17 __ Call @ – not opened at time of publishing
- Sell 1 GDX AUG17 23 Call @ $.38
- Sold 5 TWLO AUG17 30 Call @ $2.50
- Bought 5 TWLO Jul17 30 Call @ $1.09 – rolled out
Secured Put
- Sold 1 AAOI AUG17 85 Put @ $7.01
- Sold 2 STMP AUG17 145 Put @ $8.30
- Sold 2 CTRL AUG17 22.5 Put @ $1.50
I was able to make money trading monthly options this month of $3370+ with these positions. Recall, 1 options contract is based on 100 shares of a stock/ETF, in my blog post, “Trading Options Secured Put and Covered Call”, I breakdown some of the basics of the covered call and secured put strategies. In aforementioned blog, “You Have Options”, I stated I would let you know how my first call spread on Tesla, TSLA, turned out and I would say it was a success even though I closed the position early on 7/6 to collect what was a sure profit of $707 as Tesla share price sank. Below was the initial and closing trade:
Vertical Call
- Sold 1 TSLA Jul17 375 Call @ $16.80
- Bought 1 TSLA Jul17 395 Call @ $9.12
- Sold 1 TSLA Jul17 395 Call @ $0.21 to close
- Bought 1 TSLA Jul17 375 Call @ $0.68 to close
In Closing
Finally, updates of trades I’m positioned in and how they have been working for me can be found here each month. These are currently the positions I’m working for options trades and I am doing pretty well, with hopes that a few of my positions, namely TWLO and ACIA, rebound slowly to what I originally paid for them, but in the meantime, I’ll sit back and collect premiums while I wait and continue to decrease my actual cost basis in these stocks.
In the spirit of the Richest Man In Babylon, from premiums I receive, I direct 10% or more to my long term portfolio in the motifs below which you are free to purchase on Motif Investing if your are looking to get started investing, but don’t quite know where to start.
