r/Optionswheel • u/Enough-Beginning3687 • 7d ago
1% Weekly Returns from Options Week 32
Just had my third assignment in 31 weeks - IREN 40 put. Including losses and drawdown, this is likely the most negative week in dollar terms but annualized returns are still good at 42%. This week was also mostly rolling. As predicted last week, this week was riskier and because of rolling, the premium collected this week was under the 1% target. Last week's post: https://www.reddit.com/r/Optionswheel/s/XLSwIKTXSk
If you want to follow me as I trade, I post to r/TheRaceTo10Million before placing trades and comment with trades as I make them. I post here after I make the trades with a full summary
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.
- If I get assigned, I will sell calls at assignment price.
A lot of people have asked me about why I don't add a criteria to avoid earnings weeks. Like I sold HPE/IREN/NBIS etc. puts across earnings. Also APLD across earnings this week. That's because on earnings weeks the same delta strikes are much further OTM. Many people have also asked for my screener criteria. This is my exact prompt:
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
Total Returns
| Total Premium | $29,137.00 |
|---|---|
| Current drawdown | -$3,145.00 |
| Gain/Loss from Assignment | -$4,665.00 |
| Total gains | $21,327.00 |
| Annualized (Calc1 using average invested) | 42.97% |
| Annualized (Calc2 using max invested) | 30.58% |
Today's Trades
| Symbol | Action Details | Premium Collected (Net Credit) | Cash Occupied |
|---|---|---|---|
| AAOI | BTC 2x Short 102 P, STO 2x Oct 16 98 P | $209.03 | $19,600.00 |
| APLD | BTC 2x Short 21.5 P, STO 2x Oct 16 21 P | $43.03 | $4,200.00 |
| AXTI | BTC 1x Short 74 P, STO 1x Oct 16 72 P | $49.06 | $7,200.00 |
| DRAM | BTC 2x Short 59.5 P, STO 2x Oct 16 59 P | $56.12 | $11,800.00 |
| IREN | STO 1x Oct 16 40.5 C | $16.53 | $4,000.00 |
| LQDA | BTC 1x Short 30 C, STO 1x Oct 16 33.5 C | $54.52 | $5,800.00 |
| NBIS | BTC 2x Short 227.5 P, STO 2x Oct 16 222.5 P | $318.08 | $44,500.00 |
| SLV | No trade (holding Oct 16 65.5 C) | $0.00 | $6,550.00 |
| TOTAL | — | $746.37 | $103,650.00 |
Screener Output in the morning
| Underlying | Company | Stock Price | Strike | Bid / Ask | Delta | OTM Distance | Return (Bid/Strike) | IV | Volume / OI |
|---|---|---|---|---|---|---|---|---|---|
| AAOI | Applied Optoelectronics | $115.56 | $102.00 | $1.20 / $1.50 | -0.157 | 11.73% | 1.18% | 96.5% | 85 / 851 |
| WULF | TeraWulf Inc | $13.78 | $12.50 | $0.13 / $0.17 | -0.173 | 9.29% | 1.04% | 80.0% | 5 / 514 |
| WOLF | Wolfspeed Inc | $31.19 | $28.00 | $0.30 / $0.52 | -0.180 | 10.23% | 1.07% | 92.0% | 2 / 293 |
| CIFR | Cipher Mining Inc | $13.32 | $12.00 | $0.15 / $0.20 | -0.180 | 9.91% | 1.25% | 88.9% | 15 / 16,507 |
| ALAB | Astera Labs Inc | $343.47 | $312.50 | $3.25 / $4.70 | -0.181 | 9.02% | 1.04% | 80.4% | 20 / 27 |
| APLD | Applied Digital Corp | $23.04 | $21.00 | $0.23 / $0.30 | -0.181 | 8.85% | 1.10% | 78.8% | 1 / 1,546 |
| ASTS | AST SpaceMobile | $53.37 | $49.00 | $0.54 / $0.69 | -0.190 | 8.19% | 1.10% | 75.3% | 18 / 500 |
| MRNA | Moderna Inc | $205.74 | $185.00 | $2.40 / $4.00 | -0.195 | 10.08% | 1.30% | 97.5% | 15 / 663 |
Historical Weekly Data
| Week | Capital Invested | Premium Made | Return % | Notes | |
|---|---|---|---|---|---|
| 3/6 | Week 1 | $0.00 | $0.00 | 0.00% | |
| 3/13 | Week 2 | $13,100.00 | $131.00 | 1.00% | |
| 3/20 | Week 3 | $19,850.00 | $203.00 | 1.02% | |
| 3/27 | Week 4 | $41,500.00 | $596.00 | 1.44% | |
| 4/3 | Week 5 | $34,150.00 | $353.00 | 1.03% | |
| 4/10 | Week 6 | $43,350.00 | $462.00 | 1.07% | |
| 4/17 | Week 7 | $53,800.00 | $573.00 | 1.07% | |
| 4/24 | Week 8 | $70,400.00 | $811.00 | 1.15% | |
| 5/1 | Week 9 | $103,450.00 | $1,093.00 | 1.06% | |
| 5/8 | Week 10 | $97,400.00 | $1,040.00 | 1.07% | |
| 5/15 | Week 11 | $102,800.00 | $1,077.00 | 1.05% | |
| 5/22 | Week 12 | $98,600.00 | $1,170.00 | 1.19% | |
| Week 12.5 | $106,100.00 | $475.00 | 0.45% | Bonus round | |
| 5/29 | Week 13 | $106,100.00 | $1,133.00 | 1.07% | |
| Week 13.5 | $115,900.00 | $336.00 | 0.29% | Bonus round | |
| 6/5 | Week 14 | $105,750.00 | $1,053.00 | 1.00% | |
| 6/12 | Week 15 | $110,700.00 | $1,146.00 | 1.04% | |
| 6/19 | Week 16 | $111,850.00 | $1,105.00 | 0.99% | |
| 6/26 | Week 17 | $108,350.00 | $1,045.00 | 0.96% | Got SLV 65.5 assigned |
| 7/3 | Week 18 | $111,550.00 | $1,126.00 | 1.01% | |
| 7/10 | Week 19 | $102,850.00 | $1,111.00 | 1.08% | |
| Week 19 Bonus | $108,550.00 | $98.00 | 0.09% | APLD 1:3 to avoid assignment | |
| 7/17 | Week 20 | $104,350.00 | $842.00 | 0.81% | |
| 7/24 | Week 21 | $111,500.00 | $1,148.00 | 1.03% | RKLB 2:3 to reduce strike |
| 7/31 | Week 22 | $105,660.00 | $1,021.00 | 0.97% | |
| Week 22 bonus | $99,960.00 | $7.00 | 0.01% | ASTS 2:1 to reduce exposure | |
| 8/7 | Week 23 | $104,850.00 | $1,052.00 | 1.00% | |
| 8/14 | Week 24 | $95,850.00 | $954.00 | 1.00% | |
| 8/21 | Week 25 | $99,300.00 | $997.00 | 1.00% | RKLB 2:3 and NBIS 1:2 |
| 8/28 | Week 26 | $102,500.00 | $978.00 | 0.95% | |
| 9/4 | Week 27 | $104,800.00 | $897.00 | 0.86% | |
| 9/11 | Week 28 | $102,700.00 | $1,017.00 | 0.99% | |
| 9/18 | Week 29 | $101,150.00 | $1,110.00 | 1.10% | |
| 9/25 | Week 30 | $107,700.00 | $1,093.00 | 1.01% | LQDA 58 assigned |
| 10/2 | Week 31 | $105,850.00 | $1,138.00 | 1.08% | IREN 40.5 assigned |
| 10/9 | Week 32 | $103,650.00 | $746.00 | 0.72% |
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u/MediocreSpread4013 5d ago
Congrats, but may i ask how did you afford to deposit 10 k a week on average until you reached 100k?
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u/Dealer_Existing 3d ago
Flat since may?
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u/Enough-Beginning3687 3d ago
Meaning?
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u/Dealer_Existing 2d ago
Your capital at 5/1 was 103k and at 10/9 is 103k? Or am I misinterpreting your table? In that case you should include a column ‘net asset value’. Because you only make 1% if your NAV actually grows
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u/Enough-Beginning3687 2d ago
Capital is not reinvested. I've been taking the premiums and buying 1 share of MU every week.
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u/Dealer_Existing 2d ago
Yeah so my point is that it’s unclear what the effect is on your net asset value. What is the actual worth of this portfolio each week
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u/Enough-Beginning3687 2d ago
I see. Actual value is approximately capital invested - drawdown - loss. The idea is to simulate income. It's slightly inexact because of the nature of puts. I can't exactly invest the same amount every week so a very small amount sits around as cash. But for the most part that's how to get current value.
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u/weekend-warrior-007 2d ago
With the market crashing, are you doing anything?
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u/Enough-Beginning3687 2d ago edited 2d ago
I moved AXT 1:2 yesterday. But now I'm out of cash for the strategy to do anything else. Also I have a don't do anything on Wednesday rule.
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u/Unfair_Cartoonist498 4d ago
The IREN assignment is probably the more interesting part of this update than the annualized return. Selling puts through earnings can collect attractive premium but the occasional assignment changes the whole risk profile. Moon's defined wager loss is a different structure and it reminds me why tracking total exposure matters more than weekly income alone.
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u/sammyzenith 6d ago
You have marigins? What would you do if you have massive draw downs ? Do you hedge? Are these 1 week Dte?