Weekly Newsletter 31 July 2023

My goal is to share my journey and help you make a profit from options trading. Every week I report about the status of my portfolio.
Newsletter – My Options Trading Unlocked : Insights for Tomorrow’s Profits

31 July 2023

My goal is to share my journey and help you make a profit from options trading. Every week I report about the status of my portfolio. I will also write my thoughts and everything I think you may want to know about the stock market for the week ahead as an option trader.

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Overall Market Overview

SPY Chart – SPY $456.92

Looking at the graph learns me that the SPY hasn’t really had a down move since March 2023. The Moving averages technicals are signalling a buy, and a continuing move up. So the overall market tendency is up.

TOCF Portfolio Weekly Recap & Trading Plan

Open Positions in Mexem Account:

  • Short 01 GOOGL Strangle 125P/130C – Exp 18 Aug 23 – $3.74 credit received per contract
  • Short 01 IWM Strangle 190P/199C – Exp 18 Aug 23 – $3.01 credit received per contract
  • Short 01 IWM Straddle 195P/195C – Exp 18 Aug 23 – $5.06 credit received per contract
  • Short 01 COIN Strangle 85P/130C – Exp 15 Sep 23 – $3.28 credit received per contract
  • Short 10 FSR 6P – Exp 15 Sep 23 – $1.24 credit received per contract

Open positions in Tastytrade Account:

  • Long 100 shares LYFT – bought at cost basis of $15.4 per share
  • Short 01 LYFT 13C – Exp 18 Aug 23 – $0.28 credit received per contract
  • Short 03 SOFI 9P – Exp 18 Aug 23 – $0.92 credit received per contract
  • Short 01 ROKU Strangle 70P/85C – Exp 15 Sep 23 – $5.81 credit received per contract

Trading Plan:

At portfolio level :

  • The theta of both portfolios are just above my required minimum of 0,1% NetLiq : Mexem with 63,1 (0,12%) and Tastytrade with 19 (0,15%). So to increase my portfolio theta a bit again, I may be looking to get some new positions if opportunities arise this week
  • The delta are inline with my desired position of a short/neutral bias related to SPY B Delta : between – 0,10 and + 0,10 of Net Liq. With the market continuing to go up, I am considering to open positions with positive deltas (naked puts)

At individual stock level :

  • I have currently three positions on stock who have earnings this week : SOFI, COIN and FSR. I don’t mind keeping the naked puts of FSR and SOFI through earnings. Although I am not sure about COIN.
  • I will need to manage ROKU if it keeps going up, after its 30% (!) up move of last week. Let’s hope it settles down a bit between my strikes.
  • I will need to manage both IWM positions later this week (below 21 DTE) , of which I am hoping they stick around $195.
  • With my 100 shares of LYFT assigned at $17.5 and with a total credit received of $2.38, including my short covered call (13C) my plan is to continue selling covered calls against the stock. My max loss on this position would be $212 if the share price would go above $13 (and I would be assigned to sell the stock, if I wouldn’t roll the position out in time)
  • My GOOGL position also needs managing because it has also dropped, below 21 DTE. I am hoping to closed it for a tiny winner this week or I may need to roll it out in time while adjusting the strikes.
Weekly Watchlist

My special attention for this week’s earnings :

  • Mon : SOFI
  • Tue : UBER, AMD and SBUX
  • Wed : PYPL
  • Thu : COIN, AAPL
  • Fri : FSR

I have my eye on PayPal for a while now : I suggest to read this interesting tweet on the company and its history.

In our discord channels, I provide live comments, trade alerts, educational info, tools and spreadsheets. and more every day in our discord room. Join anytime here: http://discord.gg/cGW6xH4RNT

Thanks for reading the TOCF Newsletter and happy trading!

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P&K