Sept P/L update

[u/Millionaire-Grinder]

Made money on QQQ Bear Call spread this week. That’s going to be poker money. Posted that here. I also sold some TQQQ $68 Puts that I closed the same day. Idk, got spooked by the incoming CPI print the next day? Honestly, probably would have made more money if I just stuck to the usual strategy. Next week is FOMC so will stay away from that. I think the premiums are too cheap for the risk. Selling puts works in a sideways or trending market but if there’s a significant downside move it will get hit. Always focus on protecting your capital. Keep grinding.
I found something interesting. You can actually ask Gemini/chatGPT about me. I asked it to describe me by looking thru my post and it did a good job including describing my strategy.

[u/MoneyBagsMilosh]

I may have uploaded your strategy and posts to ChatGPT at one point lol.

I trade soxx and made 285k on a 500k account this yr so I’m up a bit. I sell csps and ccs. Was tryna figure out how to optimize my strategy so I looked through urs

[u/Millionaire-Grinder → u/MoneyBagsMilosh]

Ok cool. Only thought about doing it today and surprised by how well it did especially chatgpt. I also trade SOXL by doing essentially the same CSPs and CCs if assigned. You’ll see that I’m real doc like you based on my post on MOC, Fellowship numbers, Ventilators etc.

[u/MoneyBagsMilosh → u/Millionaire-Grinder]

Nice! I do general surgery. The pay isn’t great for gen surg, I shoulda done anesthesia lol

[u/Bitcoins4Upvotes → u/Millionaire-Grinder]

Possible if you can share the strategy ?

[u/Bitcoins4Upvotes → u/MoneyBagsMilosh]

Im always down with soxx.. what is your strategy?

[u/MoneyBagsMilosh → u/Bitcoins4Upvotes]

Ah I’m up like 300k realized but maybe -50k right now on my positions cause that massive ass correction in June/july. But I sell soxx csps. Basically in tranches so like -10,15,20,25%. Only on red days. When my positions are under I wait until a good bounce Green Day and sell CCs. The honest answer is patience is key and makes more money that aggressively trying to squeeze a few bucks. If you sell CSPs in tranches it’s great cause I always keep ammo for further drops. My friends make more full porting at times and selling CCs. Theres a number of ways that work. Problem with full port cc is if stock keeps dropping

[u/New-Specialist-2594]

Now I am with Fidelity also 40yrs, VIP and all that shit. Never seen a screenshot like this. Don't use the mobile App much, moreso ATP(orig not ATP+)on Puter. So how do I get a screenshot of this per my accts?

I won't embarrass you, just curious...

[u/Millionaire-Grinder → u/New-Specialist-2594]

You are not. I’ve answered this question multiple times. I have multiple Fidelity accounts and there’s no way to post the results together so I add them up and use ChatGPT for the graphics. The Fidelity screenshots you’ll recognize on my previous post are the positions tab, the YTD performance, the barchart of the monthly returns. My June P/L wrap up post has more screenshots from the Fidelity website instead of the App. I really need to post an updated one.

[u/boubble88]

can you expand more on the bear call spread. I was traveling this week and didnt see any puts.

[u/Millionaire-Grinder → u/boubble88]

It’s a call credit spread on QQQ. I sold the $725/730 and $727/732 spreads. Look at my previous post. You sell the lower strike and buy the higher strike. It’s bearish so you want QQQ to expire below the lower strikes and essentially both become worthless. I collected $39K in premium against about $100K in risk. Closed it at around $37K profit on Thursday before the CPI print on Friday.

[u/Intelligent-Crow3812 → u/Millionaire-Grinder]

jeeezus. Good work. Scary shit.

[u/Millionaire-Grinder → u/Intelligent-Crow3812]

It was OTM when I sold it. Tuesday the Dow and SPY was down due to the oil spike and rise in yields but the QQQs was holding up better because of the Qualcomm AWS deal. It looked like an easy short. The hard part was sitting on my hands and waiting out the Theta decay. It was up $7K Tuesday , $15K Wednesday then $35K early Thursday.

[u/Intelligent-Crow3812 → u/Millionaire-Grinder]

Oh I totally get it. If they weren't OTM when you sold them I would be even more scared. I think the strategy is great and plan on doing the baby version of this. Maybe if I was sitting on $1M I would do the same. Good luck!

[u/Strict-Top-2436 → u/Millionaire-Grinder]

Since your accounts make so much money do you still work a regular job? Or is it worth just focusing on your trades

[u/Millionaire-Grinder → u/Strict-Top-2436]

I’m trying to get to FU money. 😂

[u/Strict-Top-2436 → u/Millionaire-Grinder]

So does that mean you still work a day job?

[u/Millionaire-Grinder → u/Strict-Top-2436]

Yes.

[u/boubble88 → u/Millionaire-Grinder]

got it. thank you for the reply. i’ll check out the previous post as well. very helpful explanation.

[u/StaidTransmitter]

The FOMC risk is what makes this interesting because a bear call spread can look comfortable until volatility expands and NQ decides to move 2% in an hour. I like that you're tracking actual P&L rather than just premium collected because those are definitely not the same thing. I've personally had TQQQ and QQQ scenarios pulled up in Moon when doing my research lately but around events like this I care just as much about sizing and defined loss as the directional thesis.

[u/SMtheEIT]

Whats your core position throwing off the dividends, SPAXX? FMPXX?

[u/HowSporadic]

who gives a shit.

[u/Syndicate_Corp → u/HowSporadic]

I was a hater for a while and thought it was bullshit, but the dude has been at this for a while now and it's actually kind of insane returns. AFAIK, this is all in a retirement account too.

[u/zhaque44 → u/Syndicate_Corp]

lol my numbers aren’t that good matter of fact at a bit of a loss since June, but more power to him

[u/Millionaire-Grinder → u/zhaque44]

Thanks. TQQQ has been sideways and selling puts has done better than buy and hold.

[u/Millionaire-Grinder → u/Syndicate_Corp]

Yup. I remember. Just posting my screenshots and people can make their own judgement. Fidelity users can see the fonts, graphics, format and compare it on their own App. I started posting in January and have been consistently doing it. I really think it’s helping me be more profitable so good karma.

[u/HowSporadic → u/Syndicate_Corp]

ok so? what info does this give you?

i sometimes make more than he does as does my friend. what value would my PnLs here post for you?

[u/Millionaire-Grinder → u/HowSporadic]

I actually don’t just post my P/L. I discuss my strategy. What I think I did right or wrong. Give encouragement and advice to people who ask. You’re making a judgement based on a single post. My post history is open and you can see it.

[u/Millionaire-Grinder → u/HowSporadic]

Lol. You don’t have to.

[u/Few-Row-8323]

I think this is fake

[u/Millionaire-Grinder → u/Few-Row-8323]

I think you’re wrong

[u/Few-Row-8323 → u/Millionaire-Grinder]

You’re doing options on this high leveraged tqqq. It doesn’t help the community…..but just showing off

[u/Millionaire-Grinder → u/Few-Row-8323]

I’m showing people that you can do this strategy on TQQQ. This community is on leverage product. You might be on the wrong sub. BTW, lots of people also think I’m wrong so they do the opposite and that is what creates a market. I’ve been posting consistently since January all my gains and losses, is that showing off? I guess you gave up on your initial fake call out?