38. Week 15 – A Slow Start To Earnings Season
July 15, 2023
DISCLAIMER: This is a simulated educational exercise using paper trading fake money. This is not investment advice and is not intended to be copied.
TLDR
- Trades Monday 10 July
- SOLD 1 ENPH 14 JULY 23 180 CALL @0.94
- Trades Tuesday 11 July
- None
- Trades Wednesday 12 July
- None
- Trades Thursday 13 July
- None
- Trades Friday 14 July
- SOLD 1 SEDG 28 JULY 23 250 PUT @2.35
- EXPIRED 1 ENPH 180 CALL
- EXPIRED 1 TSLA 260 CALL
Week In Review
Volatility is still low, and there are no premiums to be found. With the continued uptrend in the market the puts have been particularly hard to find, since traders are seemingly fine with less downside protection in the short term.
Starting off this week on Monday I wrote a safe call on ENPH for a basic $0.94 premium. Barely moves the needle but had to do something.
Throughout the rest of the week was more of the same low activity as we’ve seen in recent weeks. As earnings started coming in late week I noticed the volume did pick up a bit, so there is hope for the remainder of the month.
On Friday I noticed a particularly high premium for SEDG 2 weeks out. While trading at $273 the AI flagged a 14 day hold with a high probability of expiring for $250 strike. I decided I had nothing better to do so I wrote a put for a $2.35 premium. Nothing amazing, but hey beggars can’t be choosers I suppose.
Also on Friday my put from last week on TSLA expired, so I was able to keep the full premium from that.
Portfolio Standings
| Portfolio Value (Open) (M) | $ 107,332.00 |
| Portfolio Value (Close) (F) | $ 108,838.00 |
| Change (M-F) | 1.40 % |
| Change (Tot) | 8.84 % |
| Free Cash (Close) | $ 66,044.00 |
| Escrowed Cash (Close) | $ 25,000.00 |
| Equities (Close) | $ 17,794.00 |
| Trades Made (M-F) | 2 |
Closing Thought
Summer is lazy, hopefully the market picks up the volatility for earnings. I will continue to write aggressive ENPH calls to get this off my books.
After 15 weeks my portfolio is up 8.84% vs a target of 7.5%. So while the last few weeks have been uneventful, I managed to stay on target with those big wins last quarter. It’s a valuable lesson learned to keep to the plan and weather the hard times.