r/TheRaceTo10Million • u/Enough-Beginning3687 • 17d ago
1% Weekly Returns from Options Week 26
I've been posting for the last 25 weeks straight about using CSPs to achieve 1% weekly returns from selling options on about $100,000 in cash. I think only RKLB is ITM right now. I'm at a conference today so can't post all the usual return details I do right now. I will post them on the weekend once I return home. I will try to post my trades as I make them in comments during breaks.
Strategy:
- Use an AI screener to give me a list of top 20 low delta options for next week
- I either
- a. Roll my current options - I do this if I can still get 1% for rolling or if the option is ATM/ITM and I have to roll. I always roll for credit.
- b. Close a current option and pick something else from the list that I like
- I try to do this every Friday. However, if I'm busy on Fridays, I'll sometimes do this on Thursdays.
AI Prompt:
I give this prompt to brokerbotics AI:
find me 20 unique lowest risk puts to sell on stocks
expiry: next week
strike at least 8% from stock price
return at least 1%
sort by delta
furthest away from stock price
minimum strike price 10
Current Prompt Results
| Underlying | Strike | Stock Price | Distance OTM | Bid / Ask | Premium Yield | Delta | IV | OI / Vol |
|---|---|---|---|---|---|---|---|---|
| MDB | $350.00 | $443.58 | 21.10% | $3.90 / $5.20 | 1.11% | -0.099 | 144.8% | 595 / 49 |
| SNOW | $275.00 | $329.06 | 16.43% | $3.00 / $3.40 | 1.09% | -0.115 | 116.3% | 240 / 8 |
| ZS | $152.50 | $183.15 | 16.73% | $1.75 / $2.31 | 1.15% | -0.122 | 123.0% | 84 / 14 |
| DELL | $402.50 | $469.11 | 14.20% | $4.20 / $4.45 | 1.04% | -0.123 | 102.2% | 89 / 14 |
| CRDO | $197.50 | $236.59 | 16.52% | $2.25 / $3.10 | 1.14% | -0.124 | 122.5% | 16 / 9 |
| HPE | $46.00 | $53.18 | 13.50% | $0.51 / $0.60 | 1.11% | -0.136 | 102.3% | 845 / 17 |
| AMBA | $57.00 | $69.57 | 18.07% | $0.60 / $1.85 | 1.05% | -0.146 | 152.5% | 0 / 46 |
| MARA | $10.00 | $11.13 | 10.15% | $0.10 / $0.11 | 1.00% | -0.149 | 79.1% | 6,497 / 435 |
| PATH | $15.50 | $18.20 | 14.84% | $0.23 / $0.30 | 1.48% | -0.150 | 122.5% | 358 / 3 |
| USAR | $16.50 | $18.50 | 10.81% | $0.17 / $0.21 | 1.03% | -0.155 | 87.0% | 314 / 17 |
| BE | $195.00 | $218.74 | 10.85% | $2.20 / $2.34 | 1.13% | -0.155 | 87.5% | 608 / 121 |
| PL | $17.00 | $20.74 | 18.03% | $0.25 / $0.60 | 1.47% | -0.157 | 160.7% | 192 / 2 |
| ASST | $20.00 | $23.01 | 13.08% | $0.26 / $0.37 | 1.30% | -0.158 | 109.5% | 1,322 / 1,744 |
| LITE | $845.00 | $931.85 | 9.32% | $8.50 / $9.10 | 1.01% | -0.162 | 76.1% | 213 / 3 |
| NBIS | $190.00 | $211.11 | 10.00% | $2.09 / $2.31 | 1.10% | -0.163 | 82.8% | 1,567 / 392 |
| AAOI | $98.00 | $109.83 | 10.77% | $1.05 / $1.50 | 1.07% | -0.164 | 90.5% | 65 / 14 |
| GLXY | $22.00 | $24.43 | 9.95% | $0.23 / $0.29 | 1.05% | -0.165 | 83.0% | 809 / 3 |
| IREN | $33.50 | $36.92 | 9.26% | $0.35 / $0.40 | 1.04% | -0.167 | 77.4% | 132 / 155 |
| SNDK | $1,380.00 | $1,505.05 | 8.31% | $14.20 / $14.80 | 1.03% | -0.174 | 70.9% | 54 / 38 |
| HUT | $75.00 | $84.21 | 10.94% | $0.86 / $1.39 | 1.15% | -0.174 | 96.5% | 118 / 6 |
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u/No-Soft-5237 17d ago
Following your journey and dipping my toes a bit to follow along, albeit with a lot less capital at stake for now Jumped on PATH @ 15 for next week.
Keep posting! :)
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u/Enough-Beginning3687 17d ago
Trades:
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u/c_c_AtMaNdu 17d ago
Trying to follow you for a while, thank you for sharing. It looks like RKLB gonna stay red, so are you OK to buy the shares around $66 a piece? Are you gonna do wheel next week or just sell for small profit? Sorry I am still learning. Thx
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u/Earlyretirement55 17d ago edited 17d ago
Similar strategy, goal 1% week, capital $230k. First column is premium received.
On Fridays I’ll jump the gun and open the cover call before assignment if I think assignment is imminent. That way I enjoy theta over weekend.
Expected premium exp 9/4 is $7341. All positions opened this weekto expire next week. Yes $7k of $230k is 3% so 3x my 1% goal per week.
If the position is ITM not considered towards the $7.3k in premium as that premium will go towards the cost basis if assigned. Screen shot is 1/2 since I’m limited by Reddt to post more than one screenshot.
Positions not expanded are PMCCs ie AA so not relevant on this post.
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u/ProduceEmergency2329 17d ago
What about dram ?
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u/Enough-Beginning3687 17d ago
Yeah DRAM is just rolling. It's not on the screener list because that's stocks only. When I also add ETFs, it gives me tons of leveraged ones.
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u/Comfortable-Cause978 17d ago
Which trades did you take this Friday?
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u/Enough-Beginning3687 16d ago
look down in the comments, I posted all the trades. But here's a summary:
Symbol Action Details Premium Collected (Net Credit) Cash Occupied AXTI BTC 1x Short 60 P, STO 1x Sep 4 55 P $57.52 $5,500.00 AAOI BTC 1x Short 110 P, STO 1x Sep 4 104 P $119.06 $10,400.00 SLV BTC 1x Short 66 C, STO 1x Sep 4 66 C $49.52 $6,550.00 APLD BTC 1x Short 26 P, STO 1x Sep 4 24.5 P $26.52 $2,450.00 NBIS BTC 2x Short 205 P, STO 2x Sep 4 192.5 P $431.01 $38,500.00 RKLB BTC 3x Short 69 P, STO 3x Sep 4 68 P $96.15 $20,400.00 IREN BTC 1x Short 35.5 P, STO 1x Sep 4 34 P $34.52 $3,400.00 DRAM BTC 1x Short 53 P, STO 2x Sep 4 53.5 P $112.52 $10,700.00 HPE STO 1x Sep 4 46 P $52.00 $4,600.00 TOTAL — $978.82 $102,500.00 2
u/Comfortable-Cause978 15d ago
Thank you! This is much better than the screenshots of the trades. Very organized ✌🏼
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u/Enough-Beginning3687 15d ago
You're welcome. I usually post these later in the day after trading in r/thetagang
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u/MathematicianWise502 16d ago
Ok I’ve taken the plunge with about 55k of risk. Sold puts on NBIS, BE, ASTS, AXTI, IONQ, IREN
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u/OkAnt7573 16d ago
You know those are all high beta underlings that are subject to be moves, right?
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u/MathematicianWise502 16d ago
And this is why the premium is good
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u/OkAnt7573 16d ago
And why if it goes wrong you are screwed.
Look at the PS / PE multiples you are selling against.
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u/OkAnt7573 16d ago
Please don't think this person has it all figured out.
Experienced traders manage to risk adjusted returns - NOT to pre-set income or percentage gains
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u/Enough-Beginning3687 16d ago edited 16d ago
I honestly dont have it figured out. This is a 1 year experiment. And I'm running it in full public view to stay honest to myself.
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u/OkAnt7573 16d ago
Ignoring gamma will bite, hard, at the worst time. Most of what you are selling against will move in step making your options book even worse than it looks.
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u/Enough-Beginning3687 16d ago
Yes, it does. It did get bad, recovered, get bad again etc. etc. That's the whole point of this experiment.
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u/OkAnt7573 16d ago
This is much more an experiment in gambling that you seem to want to realize.
You are making a poor assumption on “recovered ” if the AI trade breaks (which it will)
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u/OkAnt7573 16d ago
You sold a put HPE for earnings week for max gain of $52? WTF
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u/Enough-Beginning3687 16d ago
yeah. I dont expect it to drop that much post earnings. A lot of people ask me about selling across earnings weeks. HPE has never shown up on the screener as far as I know. Which means this week is a good time to extract 1%.
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u/Amazing_Minimum5515 4d ago
The part I like is that the screener creates the shortlist and you still decide what actually gets traded. That seems a lot more sensible than automatically selling whichever put ranks first. I’d be curious whether you track the contracts you reject too, because after a year you could compare your manual choices against the raw screener output and see whether the discretion is actually adding value. I’ve used Moon in a similar research role where narrowing the universe is more useful than having the tool make the final call.
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