My trades against SPX, TWTR, expired for full profit today, VMW got filled

During last week and the week before I opened a few new trades against SPX, TWTR, and VMW. All of the trades against SPX & TWTR expired today for a full profit.

After losses I generated during September 2014 I had to go back down from the “heavens” of my pride and basically start over. Slowly rebuild the account I once again destroyed by not following my rules and being greedy.

If it ever happened to you finding yourself saying to yourself “That cannot and won’t happen to me.” then make sure it really won’t happen by following your own rules.

Part of my trading plan adjustment was to get into trades which would generate income in shorter time frame although I will be taking smaller premiums at first. I started that way myself about three years ago taking small profits and slowly growing up to large profits. Until I overextended myself.

Back to basics. I will focus more on trading index rather than volatile stocks which are influenced by earnings and all sorts of hype, pump and dump and which can make you ton of cash, but also blow up your entire account.

During last week I opened the following trades:

1 SPX 2000/2005 bear call spread – collected $85 premium (since Tuesday, September 30th) – trade expired worthless for the full profit 9.7%

1 SPX 2020/2015/1910/1905 iron condor – collected $30 premium (since Tuesday, September 30th) – trade expired worthless for the full profit 6%

1 SPX 2020/2015/1910/1905 iron condor – collected $35 premium (since Wednesday, October 1st) – trade expired worthless for the full profit 7%

2 TWTR 51/49 bull put spread – collected $50 premium (since Wednesday, October 1st) – trade expired worthless for the full profit 28%

Totally I collected $250 during the last week (since Tuesday). Not bad. The plan would be repeating such trades every week.

Also this morning a trade against VMW I sent out via a newsletter got executed. I collected $180 premium with a total potential profit of 22%. This trade has time until expiration and I may actually take more trades over time or next week.

Also next week, I will repeat some trades against SPX by selling more spreads.

Happy trading next week!
 





2 responses to “My trades against SPX, TWTR, expired for full profit today, VMW got filled”

  1. DivHut says:

    Thanks for sharing these great options expiration with us. I guess that’s what you are looking for with your strategy? Have your contracts expire worthless and keep the full premium collected? I’m still watching your trades and maybe I’ll feel comfortable jumping in the writing option world.

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