$192 profits selling options in April 2023
- themoneyloaf
- May 4, 2023
- 2 min read
Updated: Jul 15, 2023
Updates this week:
$192 profit in April
New position in Best Buy (BBY)
$192 profit in April
Earnings season started in April which helped add some volatility in some specific stocks, which in turn provided opportunities to open new positions. In this portfolio, I closed out the month with $192 in realised profits from the following trades. New trades in April:
Older trades:
And a running total of realised profits since the course's inception:
Sep 2022 - $100
Oct 2022 - $180
Nov 2022 - $219
Dec 2022 - $211
Jan 2023 - $142
Feb 2023 - $92
Mar 2023 - $188
Apr 2023 - $192
If you're familiar with options and want to follow along the trade updates, you can sign up for my Bread Crumb subscription which is priced at $49/month. i.e. over the last 8 months you would have paid $392 and made $1,324 - or more than 3x the subscription fee. You decide if that's worth it. Do note none of these are recommendations - I'm just sharing trade updates within my own portfolio which may not be right for you.
New trade in BBY
Last week I initiated a new position in BBY, selling the May 19 $67.50 cash-secured put for $61.
The option is actually trading at $29 now, so just about 50% of max profit. I haven't closed it yet but I may look to close it early next week if the market continues to rally.
So far I've closed 5 trades in BBY in 2023 and locked in $344 of profit.
It was also a strong performer in 2022 with 8 trades closed for a total profit of $1,645. I'm hoping it does as well this year.
You can read about my 2022 recap of profits in BBY in the link below.
That's it for this week - the VIX closed below 16 on Friday, which is the lowest it's been in over a year.
This could be a sign of complacency in the market - we'll have to wait and see.