Options update for June and July

There has been a lot going on the last few weeks. Blogging was not priority. That does not mean that I stop to log my datapoints on option trading. So, here we go…

June

June was a pretty bad month as I decided to take my losses on my stubborn market convictions. A good lesson. And good that I took the loss. Ever since, the market was being stronger than ever and my loss would have maxed out. Good that this did not happen.

I still made 45,9€ from my option trading. That is a positive result and higher than a savings account. Yet, it is lower than what the markets did in that month. Goos that this is a hobby of mine and it pays me.

Main trades are

• Losses on my QQQ calls. I expected the market to crash, it rallied…
• Profit on my covered calls in GDX. Volatility was high and thus option premiums are high as well
• Profit on a AGS trade

July

July was a better month with 162,18€ profit. Still less than just being in the market. And that is ok. I just mention it to be honest and transparant.

Main trades are

• Profit in Silver trades
• Profit on a AGS trade

I was not able to close my covered calls on GDX this month, so no profit here. I was able to roll them to a higher strike, allowing me to net more gain when I get assigned. Surprisingly, I was quite OK to see GDX rally way beyond my strikes. Meaning that I would make less profit than possible.

Since then, the markets changed its view on gold and prices of goldmines dropped. Let’s see where it goes. I have calls at 38 and 36.

Management of assigned positions

For transparency reasons, I also keep track of my assigned positions and the loss I occurred so far. This is not reflected in my graphs yet. It will only be when I realise the loss by closing the postion.

As you see, I am still keeping my RDSA stock with a current loss of approx 34pct. In the mean time, I got a first dividend.

Current positions

For educational purposes, I share my current positions.

As mentioned above, my GDX trades are in the money as gold had a crazy rally so far this year. I like the experience and trust that with the next gold crash (back to the 1200 level or so) I will be willing to start a long term bet again.

FXI is my position that dates from Early this year. I have been managing this one ever since the corona crash. I rolled down from 44 to 43 recently. Let’s see where this goes to.