October 24 has been quite a fruitful month for me though the last 2 weeks are seasonally the worst performing months of the year. Coupled with the US election happening in November, it is a volatile month as well.
I did quite well this month, thanks to the rise in share price for Nvidia as I took profit on all my BULL CALL Spread positions and made a total of USD10.47k.
Read more about my Nvidia trading profits in a separate article here:
Taking USD10.47K Profits (40.26% Returns In 4 Months) In Nvidia BULL CALL Spread Positions
Other Trades
Other than my successful Nvidia trades, I also took profits on my FXI and SQ LEAPS CALL options positions. The trade details can be found on my Patreon page:
[9 Oct 24] +USD450 Profits, Closed FXI LEAPS CALL Options
[15 Oct 24] +USD255 Profits, Sold SQ LEAPS CALL
However, my Micron CALL options expired worthless and I made a loss of USD600:
[3 Oct 24] Bought Nvidia BCS, Write Off Micron CALL Options
The successful trades on FXI and Micron cancelled out the unsuccessful trades on Micron. Thus, my net profits for the month of November is quite close to the total profits that I made off my Nvidia BULL CALL Spread positions.
Concluding Thoughts
In October, I took at USD10k bet on the rise of China but it did not work out as planned:
My S$10,000 Bet On China | Why I Am Buying Into Chinese Stocks (ETF)
Thus, I tried to repair my trades before they face higher risk of expiring worthless:
How To Fix A Broken BULL CALL Spread? | Repair Strategy For Debit CALL Spread
I also tried to repair my Tesla CALL options which I invested a good sum of money but is at the risk of expiring worthless by Jan 25:
How I Fix My Tesla CALL Options Contracts That Are Losing Value Every Day | How To Fix A Broken CALL Option Position
I was not too actively trading in Oct due to volatility and the start of earnings season so I decided to sit back and got in when the market is more stable. I am thankful for the trading profits that I made in October as it allows me to reduce my overall loss in options trading since I started 3 years ago.
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The Newbie’s Guide To Options Trading
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Learning Investment With Jason Cai 
Hello Jason, first and foremost, congratulations on your earnings.
I am curious about your Nvidia BULL CALL Spread Positions where both Call legs were ITM when you initiated those BCS positions. Wouldn’t this introduce early risk assignment on the Call short leg?
Look forward to hearing from you soon 🙂
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Hi Setsuna, thanks for dropping by! Oh it will not get exercised that easily if it is not deep ITM. Furthermore, for CALL options, the options buyer will need to own the 100 shares if he chooses to exercise it. That is less attractive than owning the options, as the returns will be lower if you convert your CALL options into shares, as compared to just holding the options when the share price continue to rise. The early assignment risk usually happens for PUT credit spread contracts whereby buyer would exercise the contract to sell away his shares when the share price plunges, but that only usually happens for deep ITM PUT credit spread.
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Hello Jason, thanks for sharing.
Seems like this both-legs-ITM BCP strategy is safer than the oridinary BCP (Buy ITM Call + Sell OTM Call) as it gives you Breakeven price that is lower than the current Share price on the day you initiate the BCP position.
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yeah…safer usually will comes with less rewards, because the deeper ITM you go, the less max profit there is. On the other hand, it also provides a larger safety margin, in case the stock starts to fall.
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