Here at OptionsBrew.com, we believe transparency is the key to success and that's why we have decided to share our monthly options income reports covering details behind the scenes. That said welcome to the fourth (#4) options income report.
Last August we did in total 61 trades / from which most were credit spreads and naked puts, just a few were covered calls
There are 43 left open trades with expiry in the next months, with most (40) expiring in September.
We managed to make $958.04 from options income during the month of August, which is about 9.58% from our $10,000 goal for 2020. On average it will ask us to make at least $1,615.60 every month for the next 4 months to reach our goal.
Here are the stocks we traded options on in August 2020: AMS:INGA, BAC, AMC, NRZ, TLRY, SDC, GPS, SPCE, ET, M, SNAP, NIO, ARCC, RIOT, AAL, BCRX, AMS:AGN, BCS, PBCT, TWO, CRBP
in bold, stocks we sold covered calls on
We traded both weekly and monthly options. This is the plan we would like to keep with in the future. Weekly options are a very powerful tool to generate income.
Our top 3 stock we collected premium: BCRX, AMC and SDC. These 3 stocks account for about 40% of options premiums
Our best trades in August was with ET and F:
- Closed ET Covered Call with +$53.8 Profit (8.27% yield in 43 days)
- Closed F Covered Call with +$57.6 Profit (8.31% yield in 65 days)
We kept struggling with BAC, and TWO stock. We hope on some positive developments with these stocks during the month of September.
On an overall - decent month, with a lot of credit spreads
Half of the income will be withdrawn, while for the other half we bought 8 shares of O.
We now hold 100 shares of PBCT and 12 shares of O in our dividend stock portfolio. Once there will be 100 shares of O stock, we are going to sell covered calls on it
The dividend stock portfolio now generates an average $7.48/mo dividend income. These latest buys give us a little +$1.59 monthly boost
OptionsBrew.com was launched at the end of April 2020, during the month of August our options trading website was visited by 151 users from 36 countries.
Average session duration 7 min 35 seconds.
We now have 26 e-mail newsletter subscribers. (if you are reading so far and you are subscriber, drop me a quick e-mail telling what do you think)
During the month of August, we were quite busy with article writing (all trades are listed), in a total of 46 articles.
Launching a new website from a scratch might be a daunting task, it will take us many months before we will start seeing a sizeable community here. We will be quite happy if we will reach 1,000 users per month by the end of the year.
Founders of OptionsBrew.com hope their SEO expertise, Drupal building, and copywriting skills will help to achieve these numbers in a timely manner.
Goals for August 2021
We like setting goals, and when setting goals for August 2021 options income, we are looking to take at least $1,500 in options income.