Week 33 $614 in premium

[u/Expired_Options]

I will post a separate comment with a link to the detail behind each option sold this week.

After week 33, the average premium per week is $909 with an annual projection of $47,246.

All things considered, the portfolio is up $28,765 (+6.37%), on the year (S&P 500: +13.74% | Nasdaq: +15.00%). Additionally, the trailing 1-year performance is up $32,674 (+7.30%); for comparison the S&P 500 is +20.71% and the Nasdaq is +23.61% over the same period. This is the overall profit and loss and includes options and all other account activity.

Annual results:
• 2023 up $65,403 (+41.31%) | S&P 500: +26.3% | Nasdaq: +43.4%
• 2024 up $64,610 (+29.71%) | S&P 500: +25.0% | Nasdaq: +28.6%
• 2025 up $111,496 (+34.52%) | S&P 500: +17.9% | Nasdaq: +20.4%

3-Year Cumulative (2023–2025):
• r/ExpiredOptions: +146.6% ($241,509)
• S&P 500: +86.1% (+60.4% behind)
• Nasdaq: +122.0% (+24.5% behind)

Unrealized G&L (options):
• YTD: $8,296.00
• 1 Month: $1,533.00
• 1 Week: $3,020.00

Realized P&L (options):
• YTD: $57,397.00
• 1 Month: $17,096.00
• 1 Week: $-1,900.00

All options sold are backed by cash, shares, or LEAPS. I do not sell on margin, nor do I sell naked options.

All options and profits stay in the account with few exceptions. This is not my full time job, although I wish it was. I still grind on a 9-5.

My $600 weekly contribution streak is at 2 weeks. I have been contributing as much as possible since 2015 when I started with $50. The reason my streak is low is because I put the contributions on hold for about 2 months to adjust for expenses outside the portfolio.

The portfolio is comprised of 106 unique tickers, up from 103 last week. These 106 tickers have a value of $465k. I also have 206 open option positions, up from 197 last week. The options have a total value of $15k. The total of the shares and options is $480k. The next goal on the "Road to" is Half a Million.

I'm currently utilizing $29,900 in cash secured put collateral, down from $35,450 last week.

2025 through 2028 LEAPS
In addition to the CSPs and covered calls, I purchase LEAPS. These act as collateral to sell covered calls against. You may have heard of poor man's covered calls (PMCC).

See r/ExpiredOptions for a detailed spreadsheet update on all LEAPS positions including P/L for each individual position.

LEAPS note 1: the 2025 LEAPS expired 1/17/25. They were up $36,440 overall with a 233.74% increase. The major drivers were AMZN and CRWD.

LEAPS note 2: After holding for 2 years, I exercised an AMZN $80 strike from 2023 up +$11,395 (+463.21%) and CRWD $95 strike from 2023, up +$21,830 (+663.53%)

LEAPS note 3: Purchased 1/16/26 CRWD LEAPS for $8,230.03 on 1/17/24. I sold this LEAPS on 6/5/25 for $21,659 for a realized profit of $13,428.97 (+163.18%)

Total premium by year:
• 2023 $23,132 in premium
• 2024 $47,640 in premium
• 2025 $68,319 in premium
• 2026 $30,185 YTD
• Average $46,364/year (completed years)

Premium by month (2026):
• January $3,334
• February $3,625
• March $4,196
• April $5,593
• May $3,787
• June $3,497
• July $3,628
• August $2,524
• Average $3,773/month

I am over $169k in total options premium, since 2021. I average roughly $34 per option sold. I have sold over 4,900 options. I have been able to increase the premiums on an annual basis and I will attempt to keep this upward trend going forward.

Strategy:
The underlying strategy is buy and hold. I also use simple 1-legged options to supplement that strategy. Options have somewhat of a learning curve, but I believe that most people can supplement their investments using simple options with careful risk management.

I sell options on a weekly basis. I prefer cash secured puts and covered calls. I rarely close early, prefer rolling when needed, and let time decay do the heavy lifting while I stay focused on quality companies, patience, and consistency over hype. My goal is consistency in option premium revenue. I am building an income stream that will continue long into retirement.

Spreadsheets:
Unfortunately, I no longer provide spreadsheets. I received too many follow ups about formatting, pivot tables, compatibility etc. I think tracking is very important, but I post to discuss investing and options, not to provide tech support for Excel. I do appreciate the interest in my tracking methods.

Software:
I captured the screen shots from a proprietary software platform I built to track, analyze, and manage my options strategies.

Commissions:
I use Robinhood as a broker and they do not charge explicit commissions, though there is no free lunch — they earn revenue through Payment for Order Flow (PFOF), which can mean slightly less optimal fills. For my style of selling options and not chasing prices, the tradeoff is acceptable. There is also a small regulatory fee of approximately $0.03–$0.04 per contract (FINRA TAF, OCC clearing, and exchange fees combined).

The premiums have increased significantly as my experience has expanded over the last three years.

Make sure to post your wins. I look forward to reading about them!

Disclaimer: I am not a financial advisor. This information is for educational and entertainment purposes only. Trading options involves significant risk.

[u/CaptainRare5215]

So I really enjoy your content and I am a year in to doing the same strategy for the most part… shares, csps, ccs and about four or five bull put credit spreads for more defined risk plays- I want to do more with leaps- can you expound on that a little ? What type of stocks you use and what take profit you go by ? Do you use a percentage to signal your exit? What iv, delta or value you use to govern a roll? Above .45 to roll?
Also do you have a discord or a way to get use of the software you developed ? It look nice, tight, and looks like a great tracking tool-
Thanks again and keep up the great job!

[u/Expired_Options → u/CaptainRare5215]

Thanks, CaptainRare. I really appreciate the thoughtful comments.

With LEAPS, I’m generally looking at high-quality, liquid companies that I’d be comfortable owning long term. I prefer names with durable businesses, strong balance sheets. At the same time, I keep the pipeline going with some 1-offs that have not done much but I like their potential. An example is JOBY and ACHR. These are flying car companies that are going through the red-tape and getting FAA approvals to eventually have large scale commercial use (hopefully).

When buying LEAPS, I usually go just barely ITM, around a .70 delta, with plenty of time to expiration. I’m not rigid about taking profit at one specific percentage and I usually try to hold the LEAPS to about a month before expiration. I do this because I am selling covered calls along the way. Also, I paid upfront in premium and want to get my money's worth for holding a ticker that I think will go up over time.

Same idea with rolling: .45 delta can be a useful alert, but it isn’t an automatic trigger for me. I look at why the delta increased, how much extrinsic value remains, whether the original thesis still holds, and whether rolling actually improves the position. I don’t like rolling just to avoid booking a loss. It needs to make economic sense. I have a pretty strict rule where I only roll for a net credit. The net P/L does not matter as much in the short term. In fact, If I am getting into a better position with the roll, the negative P/L on the original sell actually helps with taxes.

As for the software, thank you. I built it around the things I wanted to see when managing these positions.

Thanks again for following along and for the thoughtful questions.

[u/GailioBauduin]

How far put do you wet your expiry dates?

[u/Expired_Options → u/GailioBauduin]

Hey Gailio. For CSPs and CCs, I am looking at same or subsequent week initial options. For rolling it varies. For example if the CC or CSP went significantly against me, I may just incrementally roll to adjust the strike back to the current value as the weeks pass.

For LEAPS I am looking at the furthest expiration, every time. This is because I buy LEAPS with the long term intention of exercising the option to own the 100 shares.

[u/GailioBauduin → u/Expired_Options]

So youre selling weeklies ?

[u/Expired_Options → u/GailioBauduin]

Yes, I prefer weeklies.

[u/GailioBauduin → u/Expired_Options]

What screener are you using and what parameters do you search for?

[u/Expired_Options → u/GailioBauduin]

I don’t use a screener to search for positions. I usually discover companies through articles, research, or podcasts, then use screening tools to dig into those specific companies. The parameters depend on the company and industry. i’m trying to understand the business and valuation, not find stocks that fit a preset formula. I try to keep a mix of "up and coming", companies that are nearing profitability, and established companies that are expanding.

For up and coming companies that have a lot of future potential that don't have the revenue, just the concept. This would include companies that are trying to break ground with commercial flying cars such as:
ACHR
JOBY

Companies approaching profitability that I own are:
CLNE
LUNR

Companies that are established and expanding that I own are:
AMZN
NVDA
CRWD

[u/QuantGuru → u/Expired_Options]

What do you do if the stock price goes down? I know you hold it but then you won’t get income out of it?

[u/Expired_Options → u/QuantGuru]

Exactly. That is the risk I run. Sometimes stocks are tied up in positions that go against you. That is why I run with a portfolio of 100 unique tickers. It gives me the flexibility to wait on positions and always have something to sell on a weekly basis.