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This month was caught me off guard. The market dipped so much that I was barely able to do more put options because it is below what I had originally did my put options. None the less I utilize what I could to make some gains. Here is the breakdown of the stocks I was working with.
HOOD Trades – $1,432 Gain
This month I only did three put/call option trades that earned me $567, $480 and $385. Nothing like the $800 per option trade I was getting last month. This stock has been going up 15 to 20 dollar in a less than a week then down 15 to 20 dollars. No idea where it is going, but I don’t mind getting assigned because Robinhood is a decent platform for beginners.
- $120-125 puts: $1,047
- $140 calls: $385
NVTS Trades – $116 Gain
This stock went from 17 dollars a share to 8 dollars a share. I wasn’t able to do much call option because it was below my average purchase purchase. Even doing puts wasn’t much of an option because I had done puts above 8 dollar.
For the month, I executed 1 put options and 3 call option on NVTS bringing a total of $116 in total premiums. I am hoping I can do more in the coming weeks when the market recovers.
APLD Trades – $986 Gain
From almost hitting $40 dollars down to $20 dollars a share I took a big hit here as I had a puts options and credit spread above the $20 dollar price. I ended up executing most of my put options to save myself from getting an early assignment.
For the month, I sold 7 put options/credit spreads and 1 call option on APLD amounted to $986.
SOFI Trades – $420 Gain
I don’t really care if I own SOFI stock. My goal is to earn premiums on the stock. If I get assigned great I’ll just either own the stock or turn them around and do call options for more premiums.
For the month, I sold 5 put options/credit spreads and 1 call option on SOFI amounted to $420.
Smaller One-Off Trades – $381
Nothing to note here as most of these are just testing the waters until I can utilize more money to generate income here.
Final Thoughts
The market has been somewhat of a rollercoaster in November. Yet I still managed to generated over $3,000 of profit. If I can manage to do this on a crash then I probably won’t have to worry to much it that happens again. I will just have to use a strategic approach instead of wildly putting all my available cash into put options.
