In my previous post, I shared that the Tesla Bear PUT spread options that I bought at the start of the year expired worthless in the months of June and July and as a result, the loss amounted to almost S$14,000. In this post, I want to share my overall profit and loss for the months of June and July, as well as what worked for me during this period of time.
The US stock has performed quite well in these 2 months and prices continue to rise higher for many stocks.
Below is a summary of my trades in June 2023:
Vertical Spreads (Loss of $11.4k due to Tesla Bear PUT spreads expiring worthless)
Selling OTM PUT aka SOP (the method which worked very well for me this year)
My Trade Summary for July 2023:
Vertical Spreads:
Buy CALL:
SOP:
Therefore, my overall net profits/ losses for June and July 2023 are as follows:
In Jun 2023, I made a net loss of -8.36k while in July 2023, I gained $2.89k. Without factoring in the losses from the vertical spread contracts which I bought at the start of the year, I would have earned 3.08k and 5.51k in the month of June and July respectively.
Concluding Thoughts
In a sideway/ choppy or bullish market like June and July, this method is quite effective in generating a decent return every month:
My Options Trading Strategy For 2023 | Introducing SOP Options Trading Strategy
I hope you find this sharing useful. If anyone is interested in the trade details for these 2 months, please indicate in the comment so I can update this post.
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