You’ll find that there are weeks in this process where you end up rolling all of your expiring positions because they are in the money. This may mean that in some cases there will be weeks where you don’t end up opening any new positions. You’ll find as your account grows and your positions are each a smaller portion of your overall account value you’ll end up with more positions. This may seem like it is harder to manage. But in some ways it is easier because you’ll more likely have more positions that will be able to expire at the end of the week.

Week 19 Results

We started the week out with the following 4 open put positions:

On Monday all 4 of my put positions were in the money so I decided to not open any new positions. The market was overall down on Monday, but recovered to some degree as the week progressed. By Thursday though, it was evident that my USAR and SERV put options were probably not going to be able to expire since the share prices of these were well below my strike prices. So on Thursday I rolled my USAR put out two weeks and also rolled the strike price down to $15. I was able to collect a net premium of $25 for this roll. My SERV position I also rolled out, but I rolled it out 5 weeks and rolled it down to a strike price of $10.50. I collected a net premium of $20 for this roll.

You’ll notice over time that in general it is easier to roll strike prices down on higher priced tickers. So to roll my SERV strike price down I had to go further out in time to still be able to collect a net credit for the roll compared to rolling the USAR position.

On Friday morning, QBTS was hovering right around my strike price. I decided to roll it to avoid it getting assigned. So I rolled it out one week for the same strike price and collected a net premium of $47. At this point I only have one position expiring next week which is QBTS. Here is a chart of all of my trades in this journey wince the beginning of August:

Summary

For week 19 I was able to collect $91.76 in net premiums. My target for week 19 is $79.36. For the first 19 weeks I’ve collected $1,552.56 total in net premiums. My target for the first 19 weeks is $1,417.21. I’m currently using $4,800 of my cash as collateral for my open put positions. Here is a snapshot of my account at the end of the week as well as the summary chart up to this point:

Read: How to Generate Consistent Profits Through Options Trading