Today marked the entry into the 60 day expiration cycle for the June monthly’s.
I opened the day with only 3 positions remaining with 32 days to expiration – DIA, EWW, IWM. These positions remain open as the market moved upward throughout the day.
Here is my opening Net Liquidation:
Before I added the new positions – here is my options portfolio showing being down $11 so far for the day.
Here is the chart I was looking at when I opened the EEM position. EEM is a emerging market ETF.
I sold the 40.5/41.5 for $30 in credit – with 60 days left to expire. The blue line on tops represents my break even of $40.20. Below is the option chain.. The position opened with a 68% chance of success.
Next I looked at opening a SPY position. Below is a 3 month chart, calculated daily. The blue line shows the ceiling I’m setting at $240.31
I sold the 240/241 call spread for $31 in premium. The option chain is below.
Lastly I opened a position in the QQQ’s selling the 135/136 call spread for $29. The chat below has a blue line representing the break even of $135.29
Here is my current portfolio – one exception – the portfolio lost a total of $20 in value for the day.
I’m now collecting $176 in premium using $424 in buying power. The overall chance of success for the full portfolio is 66% at the close of the market.
$176 is a bit over my target on premium collection so I won’t be opening any positions until I close others; New positions will be opened in the 60 day June Monthly options.
Good news is I plan on adding more funds to the account. This will increase my premium target and account activity – All of which is good news for this blog.