Quick update:
- sold $3’145.76 worth of Puts in 2024.
Up until about May '24 they were cash secured. Then, they became Treasury secured (see my TSP topic dedicated to discussing this), which added another about 5% yield on the “cash sitting there” for the C in CSPs. - sold $1’790.23 worth of TSPs so far this year.
The lion share goes to a UNH Dec25 160P that I sold on May 15 for about $900. It’s currently worth about $200. I keep contemplating to buy it back already, but then again, UNH currently trades at over $300 … might as well sit on this put a little longer as I don’t see the underlying going to $160 anytime soon. - Uncle Sam dutifully paid back the Treasury I bought in May last year (which appreciated to the nominal, garnering about 4.5% in capital appreciation, and paying out the interest coupon of 0.25%, which I’ll have to pay income tax on). After it matured, I bought a new Treasury (a note expiring in February 2026, with a coupon of 0.5% this time).
So, still a side gig for me, and you might laugh at me, but I’m happy for the premiums collected.
Since my last update I also picked up a book which succinctly explains options (quite dense, not recommended for beginners), discusses trading strategies, but although I sympathize with the proposed option trading strategy of selling SPY put spreads, I haven’t implemented it myself so far.
