The last trading month for March ended on 28 March and it is time to review the trades for this month. Feb was a good month with a net profit of S$7,735 but March was slightly better at S$7,897.
The summary table of profit/ loss is as follows:
The huge wins in March came from closing my BUY CALL contracts on Nvidia, whose share price continued to rise significantly in March.
The details of all my trades can be found here:
The bigger wins of this month include the USD1,076 and USD2,898 profits from closing Nvidia CALL contracts.
If you wish to be updated on my trades as they happen, you can follow me on my Patreon page, I usually update on the same day or latest by the following day.
Click here to access my Patreon Page
I have also grouped all my profitable trades in one collection (album) so it is easier for reference.
Meta Trades
Aside from options trading & Nvidia trades, I also took a USD12k profit on selling away my Meta shares and converted my Meta SELL CALL into SELL PUT, using the same method that I used to fix my broken/ naked SELL CALL options contract (shared below).
Options Trading Strategies For March 24
The strategies that I used for March 24 are the SOP Strategy, BULL CALL Spread Strategy, and buying OTM CALL options, with the last being the most effective this month.
Further Read:
My Options Trading Strategy For 2023 | Introducing SOP Options Trading Strategy
How Does Bull CALL Spread Work? | CALL Debit Spread Explained For Newbies
I am trying out a new strategy for March and I will update the result in April’s review.
Concluding Thoughts
For this month, I managed to find a way to resolve the liquidity issue that arose from short-selling Nvidia, where there is a significant unrealised loss with every jump in share price for Nvidia.
However, the bulk of my stock holdings, Tesla, continued to perform poorly this month. And that is not helping my liquidity or maintenance margin.
With all the money now going to stocks related to the AI revolution and cryptocurrency, I may need to wait a while before I can see the light at the end of the tunnel for Tesla. My plan is to sell off some of my allocation when the price is right and reinvest this money into other stocks that can give me a better ROI.
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