I made 2 trades on 20 May 24, one for the short term and one for the long term, one in SG market and one is US market
Trade 1: [20 May 24] Bought 100 DBS shares + 200 OCBC shares
I bought these 2 blue-chip bank stocks to build up my dividend portfolio for passive income, so that I do not have to actively pursue the returns from these investments and that there are dividends coming in every now and then to offset my expenses.
My total dividend portfolio invested capital adds up to around $9.5k. At a conservative 5% return, I will collect a passive income of $475 per year or an average of $40 per month, which I can use to buy groceries, a nice dinner treat for myself or movie tickets for my family.
My plan is to grow this portfolio capital to $100k as the first milestone, which would translate to more than S$400 per month of passive income when that happens. There may be capital appreciation if the local SG banks continue to do well and I am confident that they would as Singapore is a financial hubs and the banks have years of experience to fall back on to continue to thrive in the years ahead.
Trade 2: [20 May 24] +USD380 Profits, Taking Profits on 2 x Nvidia Spread Contracts
This was a new strategy that I tried out in March but it did not go according to plan as Nvidia started to correct in April, which meant that it was a risk trying to aim for the initial USD820 strike price as I may risk losing all my USD16.8k capital if the contract expired Out-of-The-Money (OTM) on expiration date.
Read more here:
Trying Out A New Options Strategy | If Nvidia Closes Above USD820 On 26 April 24, I Earn USD3.2k
So, I rolled the contract’s expiration date from end April to end June and got lower strike prices of USD750/ USD730. Thus, if Nvidia closes above USD750, I would get max gain for from the contract.
With Nvidia reporting earning in 2 days’ time (22 May), I thought it would be wise to take some profits from this trade, so I closed 2 (out of 10) contracts at a gain of USD190 per contract (max gain = USD320 per contract). I do not know if there would be any shocking news coming out of Nvidia’s earnings call that would crash its stock price so I played safe and closed 2 contracts to secure my gains.
With that realised profits, my total profit for 2024 is around S$24k and my overall net loss from options trading is now less than S$20k,
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