Just a short post to update the end of August, what did we do on the options fund. Firstly, I closed 2 PLTR trades, they hit around 50% profitability, pocket USD 866.5/= I wanted to free my funds as the margin level is creeping higher.
I sold a PUT on Tencent in early August before the rout of technology stocks in China. Then I sold 2 PUT on FASTLY prior to the financial result is announced. Once the financial result is out, the share price dropped further, I sold another PUT on FASTLY. I wanted to use the premium collected to buy 100 shares of FASTLY at USD 30. However, the share price hit USD 32 at the lowest and it bounced back up.
The last trade on Tencent is after the Chinese announced the 5 years regulations on technology companies. Tencent did not hit HKD 380 and bounced back up from around HKD 420. The total premium collected to date since January 2021 is USD 17,661.
Refer here for the July Options update.
Updated on 11th September 2021
I closed another 2 PLTR options on 31st August 2021.
As of end August 2021, total accumulated premium till date is at USD 18,860. FY2021 Options premium accumulated is around USD 17,016 after closing some of the positions in August. This works out to be average USD 17,016 x 1.35 / 12 = SGD 1,900/month. My target is just SGD 1,000/month from options income. I have another 4 months in FY2021 to earn more options premium.
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