Commentary
I've been testing a new CSP trading strategy since mid December that uses longer term expirations (30-45 days) and 55% profit targets. So far the results have been positive and I'm considering sticking with this strategy.
I'm in the process of writing a new trading plan for the Wheel Strategy, which will become my primary trading plan.
I've also made some changes to the format of this report. I've included a summary of open positions, and changed the reporting of trades to only represent the current options sold (see below). Full P/L will be reported when complete positions are closed.
Trading Summary
This week 8 CSP's (DIA, IWM(2), QQQ, SPY, XLK, XLV, XLY) reached their profit targets and were closed, 1 new CC (QQQ) was sold, 1 CC (IWM) was rolled, and 1 new CSP (XLI) was sold.
Current Open Positions
- 1 CSP position
- 3 CC positions (IWM, QQQ, SPY)
- 12 uncovered stock positions (ARKK(5)*, IWM, QQQ (2), XLK (2), XLY (2)
* ARKK has 4 100 share positions at different strikes and 1 400 share position at the same strike.
The following is a summary of this week's trading activity.
New CSP/CC and rolled CSP/CC positions only represent the current option sold. If multiple options have been sold on a CSP or CC position, the full P/L will be reported when the complete position is closed.
* denotes existing open positions that were previously rolled/continued.
Closed CSP Positions
| Stock | Opened | ExpDate | Closed | Days | Shrs | Strike | Margin | P/L | ROI | AROI |
|---|---|---|---|---|---|---|---|---|---|---|
| DIA | 1/5/2023 | 2/17/2023 | 1/9/2023 | 4 | 100 | $305 | $30,500.00 | $100.98 | 0.33% | 30.21% |
| IWM* | 12/2/2022 | 1/27/2023 | 1/12/2023 | 41 | 100 | $178 | $17,800.00 | $199.94 | 1.12% | 10.00% |
| IWM | 1/5/2023 | 2/24/2023 | 1/10/2023 | 5 | 100 | $160 | $16,000.00 | $101.98 | 0.64% | 46.53% |
| QQQ | 12/30/2022 | 2/17/2023 | 1/9/2023 | 10 | 100 | $235 | $23,500.00 | $108.98 | 0.46% | 16.93% |
| SPY | 1/3/2023 | 2/17/2023 | 1/9/2023 | 6 | 100 | $345 | $34,500.00 | $108.98 | 0.32% | 19.22% |
| XLK | 1/5/2023 | 2/17/2023 | 1/9/2023 | 4 | 100 | $106 | $10,600.00 | $37.98 | 0.36% | 32.70% |
| XLV | 12/28/2022 | 2/17/2023 | 1/12/2023 | 15 | 100 | $126 | $12,600.00 | $46.98 | 0.37% | 9.07% |
| XLY | 1/5/2023 | 2/17/2023 | 1/9/2023 | 4 | 100 | $111 | $11,100.00 | $37.98 | 0.34% | 31.22% |
New CSP Positions
| Stock | TradeDate | ExpDate | Days | Shrs | Strike | Margin | Premium | Target | T-Days | T-ROI | T-AROI |
|---|---|---|---|---|---|---|---|---|---|---|---|
| XLI | 1/13/2023 | 2/24/2023 | 42 | 100 | $97 | $9,700.00 | $74.49 | $40.97 | 15 | 0.42% | 10.28% |
Rolled CC Positions
| Stock | TradeDate | OldExp | NewExp | Days | Shrs | Strikes | Invested | NetCredit | ROI | AROI |
|---|---|---|---|---|---|---|---|---|---|---|
| IWM* | 1/13/2023 | 1/27/2023 | 2/3/2023 | 21 | 100 | $185/$185 | $18,500.00 | $110.97 | 0.60% | 10.43% |
New CC Positions
| Stock | TradeDate | ExpDate | Days | Shrs | Price | Strike | Invested | Premium | ROI | AROI |
|---|---|---|---|---|---|---|---|---|---|---|
| QQQ* | 1/9/2023 | 2/17/2023 | 39 | 100 | $295 | $295 | $29,500.00 | $260.48 | 0.88% | 8.26% |
