This week continued to be a challenge in the market with most stocks being down again. This is a good opportunity to show how I manage positions in a downturn. It is true we aren’t in a severe downturn at this point, but my positions are still having to be managed until the market starts to go back up.
Week 30 Results
Starting this week I was holding the following call options:
I was also holding 100 shares each of HIVE, QUBT, SPCE and TSLL. So on Monday morning I started by selling a $20 strike call on TSLL expiring 11/28 (11 DTE). I was able to collect a premium of $30 for this trade.
I decided to wait to see what direction the market was going in as the week progressed. On Thursday I opened a new position by selling a put on CLSK with a strike price of $10.50 and expiration of 11/28 (8 DTE). For this trade I collected a premium of $52. Below is the list of my trades for October and November so far.
Summary
For week 30 I collected a net premium of $81.92. My target for week 30 is $85.69. For the first 30 weeks I’ve collected a total of $2,573.60 in net premiums and my target for the first 30 weeks is $2,327.76.
Because of having to manage open positions since the market is down I am using a larger percent of my account for open positions, but still have quite a bit left to work with in case the market stays down or even goes down further. Depending on what the market does this week, I may be able to collect my target premium just from opening new calls and rolling my CLSK put if needed. We’ll see how it goes.
