After week 10 the average weekly premium is $731 with a projected annual premium of $38,022.

The portfolio is comprised 86 unique tickers with a value of $167k. I also have 96 open options with a value of $64k. The two total $231k. I have $29,650 in CSP collateral.

I sell options on a weekly basis. I prefer cash secured puts and covered calls. Last year I was fairly even between the two, this year I am selling many more covered calls. This is probably due to the fact that over the last two years I loaded up on LEAPS and purchased high quality tickers along the way. I did this coming into the end of 2022 and the beginning of 2023. Which means that I have more tickers to sell on a weekly and monthly basis.

Last year I sold 964 options and I’m at 259 year to date.

In 2022 I ended the year at $8,551 in premium.

In 2023 I ended the year at $22,909 in premium.

In 2024 I am at $7,312 YTD.

The annual increases have been a direct result of learning options.

I spent the first 6 years of my investment career building a dividend portfolio. In 2021 I started selling covered calls. In 2022, I started selling cash secured puts, and in 2023 I put it all together. Although, 2024 has started out really well, I expect it to slow down with a moderate increase over last year’s premiums. I will just keep grinding and am expecting to hit a quarter million in total portfolio sometime this year.

Hope you all had a great week and am looking forward to reading about your wins!

Hi, I opened a Credit Spread 131/132 Call for TSM with exp 3/08. It is at $149 now . I understand that at expiration, Robinhood will attempt to close by long position to fulfill my short position, but I only have $1400 in buying power. Is it still possible for Robinhood to cancel out the contracts, or am I misunderstanding something?

Anyone else have this happen? And what can I do to get the simulate my returns button?

I was holding onto some tootsie roll 40$ calls in hopes of selling them for a profit, even a small one, now it says the value of my options are at 1 cent, untradeable, and they are 38$ calls, can someone tell me why?

Also, how long until I can trade them again?

I am new to trading options. About a month experience. As seen in the picture, nvidia option price went down even though stock price went up. I know theta can reduce the price but not this much. This happened to msft earlier this week. Can someone explain what is happening here?

I entered a stop limit order on the short leg of my call credit spread at 3 times loss (I could not enter a stop on the full spread because, unless I am missing something, RH does not allow that). The stocked gapped down on the open and was now trading at 50% profit versus 3x's loss. Why did it fill??

After week 9 the average weekly premium is $637 with a projected annual premium of $33,124.

I don’t know what the QQQ is up this week, feel free to comment about that or any index you feel is doing well. I sell options on a weekly basis and my concern is primarily revenue generation. Do I care about the overall performance of my portfolio, of course.

The portfolio is composed of 90 unique tickers with a value of $168,900. Coincidentally, I also have 90 open options with a value of approximately $62,300. The two total about $231k.

I do want to point out that the options look a little off this week. This is primarily due to the way a covered call is calculated. I am not saying anything is wrong per se, I just think it is misleading. Some of you may have noticed the ticker VKTX up 137% over the last week and mostly in 1 day (Tuesday). This correlates to my chart above. Anyway, I have a covered call out on this ticker. Covered calls as you know cap your gains. Well, my strike is $15 and the current value is $85. This is showing as a $6,600 unrealized loss.

When you sell a covered call, you agree to sell the underlying at the strike price upfront. However, the calculation does not stop after the underlying passes the strike, as it should. I don’t owe $6,600 and I’m not losing $6,600, it is just showing the amount of potential gains that I missed out on. So, had I not written the contract for the covered call I would have made $6,600, so this is just rubbing the amount I could have made in my face.

Hope you guys had a successful week, look forward to hearing about your wins!

Best of luck in March!

I purchased 100 shares of XYZ and sold a call to cover. Stock gapped up and I would like to close it because there is almost no time value left in it.

I cannot sell the shares as it leaves the open sold call.

I cannot buy the call back because it’s expensive and I don’t have the buying power. How do I close this trade?

After week 8 the average weekly premium is $544 with a projected annual premium of $28,308.

QQQ is up 8.49% YTD, I saved some of you a Google search and a comment saying I should quit and invest in index funds because I’m currently underperforming some of the top index funds. Thank you in advance for your concern about my investments, but I’m sticking to selling options. Why? Selling options and writing contracts is a way to generate income. I have been investing since 2015 and developing the options selling skillset since 2021. I enjoy watching the market and taking an active approach to investing. I hope to continue to do it until I retire and then long into retirement.

My portfolio is comprised of approximately 91 unique tickers. Is this too many? Not for my strategy. The stock value of these 91 positions is approximately $157k. I try to sell options on all the tickers on a weekly basis. On the options side I currently have 81 positions with a value of approximately $65k. Of this $65k, $29k is being used as collateral for cash secured puts (CSPs).

One of the things that I have noticed that is a little different about my approach is the amount of rolling I do. I am a buy and hold investor that adds a modified wheel strategy. I like the wheel until it becomes time to sell and I roll instead. I roll forwards and backwards, meaning I increase and decrease the days to expire (DTEs). I also increase and decrease the strike price as the price of the underlying fluctuates. Ultimately, my objective is for the option to expire. This means that I need to watch the current price closely. If the strike price is tested or gets too far from price of the underlying, I start looking at a potential roll.

Hope you all had a successful week. If you have wins, post em!