Here at OptionsBrew.com, we believe transparency is a 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 seventh (#7) options income report.
Last November we did in total 49 trades / from which most were credit spreads and covered calls. Last month we finally established a covered call position with PFE and made our first $60 from options income (from money received I bought an Amazon Echo Dot device)
There are 45 left open trades with expiry in the next months, with most (39) expiring in December.
November was a very good month, we managed to decrease our margin balance from -EUR 12,000 to - EUR 2,700 many positions were called away (and we made income on them), so a lot of cash was freed up, and we were able to establish new credit spreads.
We managed to take $1,479.6 from options income during the month of November, which is about 14.79% from our $10,000 goal for 2020. I doubt we are going actually to reach our goal this year, as it would ask us to make more than $3,000 in December. That's definitely not impossible but would involve unwanted risk, which is what we are trying to avoid.
Here are the stocks we traded options on in November 2020: ET, SDC, ARCC, AMS:INGA, EPA:AF, PFE, AMWL, VTRS, BCRX, FCEL, SOLO, FRA:LHA, GPS, FRA:DBK, AMC, ATEC and TLRY
Now, we went with 7 credit spreads on SOLO stock, 3 credit spreads on ATEC, also 6 credit spreads on BCRX.
SOLO and ATEC seems the riskiest trades so far
All trades are available in the trading journal or under the archive: November 2020
Half of the income will be withdrawn, while for the other half we bought 12 shares of O.
Unfortunately during the month of November, our 100 shares with PBCT were called away, and for awhile we have lost a good dividend stock, though we have the cash to buy this stock back
We now hold 0 shares of PBCT 35 shares of O and $1,200 cash 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 $6.94/mo dividend income.
Trading plan for December 2020 (Option trades & Stock Buys)
We are looking to buy additional 30 shares with VTRS, 10 AMWL, 20 ARCC, and 20 T. Also at the end of the month, we will spend half of our options income to purchase O stock
Currently, we are holding: 10 VTRS, 0 AMWL, 80 ARCC ann 80 T, also 35 0
During the month of December, we are looking to start selling covered calls on ARCC and T, which combined should give us some additional +$40-$50/mo
From covered calls/credit spreads - we are looking to take ~ $1,100 during the month of December.
OptionsBrew.com was launched at the end of April 2020, during the month of November our options trading website was visited by 456 users from 55 countries.
Average session duration 3 min 35 seconds.
We now have 115 e-mail newsletter subscribers.
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 November 2021
We like setting goals, and when setting goals for November 2021 options income, we are looking to take at least $3,000 in options income.That would be the double we made this November.