I guess I missed the month mark since last update but up another ~30% this month. I added another 15k in cash last week but so far it's been sitting in reserves waiting for a good opportunity. Mostly this month's wins came from BRKB jumping up as I suspected it would along with a further move up by AMZN. Also numerous little wins in some smaller names capturing the run-up before earnings releases. I sold a few before earnings that I would have liked to take back. Nothing like missing out on a 15% price move (meaning a 300-500% option move) 2 hours after you sell something.
I started selling some covered calls in some volatile stocks. Cruise and airlines, silver, oil, NKLA, CHWY. I only do a week at a time. It lacks the fireworks of the long calls above but makes up for it in consistency. (1.5%, 2.6%, 0.46%, 1.98%, 2.69% is my performance for the first 5 weeks.)
I feel very comfortable with all of my positions at this time. Coke (KO) is probably the stock I'm most anticipating some good movement from over the next 6 months. I put 12k down on Jan '21 and '22 long calls. They have such low volatility that any increase in price causes a big jump in option value. They are still down ~20% from February and I don't believe they deserve to be.
The one big concern that could drop my value in half would be an extended(3+ months) >10% total market pullback. That's the ever present danger in leverage. On the plus side, a 50% drop would still leave me above where I started playing with options at. The success I've had with them so far has been worth the risk. This account was started with play money but has nearly caught up to the value of my indexed IRAs.
