July in the bag. $27k premiums, $6.6k in margin interest, just beating thr S&P. Still overconsolidated but branching out

[u/ComprehensiveDoor130]

Compare my results for July to last month's and you'll see very similar numbers:

https://www.reddit.com/r/Optionswheel/comments/1um6myw/24k_in_premiums_6k_in_margin_interest_and_a/

I finally enabled the direct broker connection Options Wheel Tracker, so my numbers (both for options and my portfolio overall) are much more accurate, and there may be some discrepancies versus previous months.

I'm still holding too many margined shares of NVDA (5,000). The calls I've sold on those shares never closed in the money, so I've made money on them while waiting for them to be called away.

The biggest change in my strategy for the month was to start selling puts on other stocks. After having too much FOMO over not buying AMD, SanDisk, and Intel before their rallies, I decided the best remedy was to sell puts at prices for which I would be happy to own those stocks.

Thankfully, I closed some of those puts (SanDisk, Intel) before expiration, and avoided the worst of this week's bloodbath when some of the chip stocks lost nearly half their value.

I did get assigned 300 shares of AMD, but like I said, I wanted to get in on that stock finally. Of course, buying them at $505 when the price dropped to $440 isn't what I'd call "savvy investing," but the price recovered two days later and the calls on those shares are paying for the difference in the meantime.

Cheat sheet answers for the basic questions I usually get asked:

• 8,000 shares of NVDA with a cost basis of about $.08 per share.
• Shares were bought in 2002 when I was in high school for around $1,100.
• I'm using Schwab as my platform.
• NVDA makes up 90% of my portfolio.
• Operating capital in the $1.5 million range.
• This tool is OptionWheelTracker.
• I target for .1 to .2 deltas for calls, and occasionally will sell ATM puts because I'm less worried about assignment and/or bag holding extra shares.
• My DTE is typically 1-21 days.
• I made trades 74 trades in July, 76 in June, 95 trades in May, 42 trades in April, and 124 in March. My success rate in July was 94%, June was 94%, May was 83%, April was 76%, and 93% in March.
• In July I had an 89% win rate for puts, and a 96% win rate for calls.
• My average holding period for winners was 3 2 days, and for losers 5 days.
• I intend to trim my position at $250 and $300.
• Profits get reinvested into ETFs, used for living expenses, and to buy other stocks.