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I finally hit over $3,000 of passive income this month. I had to adjust my option strategy to different set of stocks to earn additional income. My biggest contribution comes from option trading again and I believe this will continue for the rest of the year. Now lets take a look at my breakdown.
1. Dividend Stocks
My dividend income went up 80 dollars compared to last month due to SCHD quarterly payment. I will be using this to invest in growth stocks.
Total Dividend Income: $116.64
- GAIN: 11.50
- GLAD: 4.01
- MAIN: 9.07
- O: 1.60
- FTHI: 1.56
- SCHD: 80.18
- MISC: 3.78
- Share Lending: 4.94
2. Option Trading
My biggest contribution to my passive income is option trading. I did put options to collect premiums then use those premiums to secure more put options or buy stocks. Next strategy to add are credit spreads so I can use less capital to generate higher gains.
Below is a breakdown of all the premiums I earned for the month:
- Covered Calls: $672
- Cash-Secured Puts: $2,922
- Credit Spreads (None): $33
3. High-Yield Savings
This month my savings interest went up around 44 dollars due to collecting two and a half months of interest from my Netspend 5% savings account. The thing about Netspend is they pay interest on a quarterly basis, not monthly. So going forward I will probably just have to estimate the amount of interest for that month to keep this section updated.
- Total Income from High-Yield Savings: $126.23
4. Atlas Earth
Not much has changed here expect that I have around 75 dollars saved up to potentially exchanged that for Atlas cash in the near future. I am hoping sometime in December they will offer 40 Atlas cash per dollar earned in game.
- Total Income from Atlas Earth: $20
5. Amazon KDP
Surprised I actually sold three books this month. Nothing special here except that I will continue to sell these books going forward for a few dollars here and there.
- Total Income from Amazon KDP: $10.92
Total Passive Income For This Month
- Total Income from All Streams: $3,900.79
Here’s the full breakdown of my passive income for the month:
- Dividend Stocks: $116.64
- Option Trading: $3,627
- High-Yield Savings: $126.23
- Atlas Earth: $20
- Amazon KDP: $10.92
Final Thoughts:
Hitting $3,000 mark for passive income felt like it was going to be hard at first, but once I managed to figure out other stocks to do option trading was definitely a game changer. I will continue to do option trading as a way to generate income. Next month’s goal is to hit at least $3,500.
