Investing For Income... Short Term Put/Call Option selling, July 21, 2020

First week of trade positions.

Each post will (most likely) include the following information.

Step 1. What I plan on buying in the next go around.
Step 2. What I actually ending up buying from step 1.
Step 3. What I actually made/loss when a position is closed out.

Step 1.

1. Next week I hope to buy another IWM call/write and another PM Naked put. I plan on having three positions of both IWM and PM with each having one position expiring each week. I have been doing this for a few months so technically this has already been established however, for this series I'm leaving past trades out.

2. I added an option spread strategy to the mix because of its short duration of three weeks or less. That would be the option spread indicated below. I've had good luck rolling the short term SPY put each week or two. Hopefully I will be able to do this next week as well.

3. Premiums received was lower then normal. Hopefully that will improve.

Step 2.

Trade 1. Bought 100 shares for $14327. Sold 1 Aug 7 Call @ strike price 135 for $1213. Max profit Potential $109. (Stock market price 146.04) (Buy/Write)
Trade 2. Sold 1 PM Aug 7 Put @ strike price 72 for $55. Max profit is $55. (Stock market price 76.10)(Naked Put)
Trade 3. Sold 1 SPY Aug 7 Put @ strike price 300 for $113. Bought 1 SPY Jan 21 2022 Put @ strike price 260 for $1700. Max profit $113 (Stock market price 324.87) (Option Spread)

Step 3.

No positions closed

That's it for now.