My August Options Income: 32.7k · Invest & Retire Community

My August Options Income: 32.7k

All,

In the interest of transparency I would like to share my income from options trading in August.

Total August Income: 32734$

10k from selling 0DTE and 1DTE QQQ puts 2-3% OTM before market close
8.3k from selling weekly 25% OTM MSTR puts
5.2k from buying a QQQ call
6k from selling dash and nvda puts before earnings
Market neutral trades (Broken Wing Butterflys, Iron Condors etc) 3.2k

This is my 3rd month starting options trading. First month I made like 5k and lost it all on a IPO stock. I got frustrated and closed my option trading account. Then I took my time off spent time learning and started again in August.

From this month, I will be trading differently. I'm already up 3.7k for this month

I will keep the core QQQ 1DTE puts, stay away from 0DTE puts as they are risky
MSTR puts I will size them down and use put spreads instead of naked puts to cap tail risk
Will focus more on earnings trades as they are very profitable. I'll post a detailed separate thread on my earnings trades but in short I am placing a iron condor with shorts outside the expected move.
Will focus more on selling VRP (variance risk premium, the gap between IV and HV)
Will focus more in delta neutral trading, BWB, Calendars etc
Will follow better risk management strategies (no more than 2% risk on a single trade etc)
Also will include Call debit spreads with a lower allocation as the returns are huge