This week was a lot less trading, mostly in part due to running out of available funds to trade with.
Apparently, that’s what happens when you sell weekly puts but monthly covered calls.
I suppose that was the obvious outcome to everyone except me.
To put it another way, the timeframe on the puts and calls should match. Either both weekly or both monthly, etc.
What happened was, my available cash went to purchase the stock, and if I’m selling monthly covered calls, I have to wait a month to see if the stock sells.
If it does, I get all my money back plus some. If it doesn’t, I sell more covered calls.
So, value-wise, my account is fine, but spare cash to sell Cash Secured Puts, drops so I can’t sell as many, if any.
But, I did have some trades going on:
I sold 2 NOK 11.5 puts and was assigned them.
I sold 1 JD 28.5 put and it expired.
My NOK 14 Covered Calls expired as did my DKNG 30 covered calls.
My 2nd TSLA earnings strategy I closed for a small loss. They can’t all be winners.
I’m not sure how I’ll proceed for next week yet, but I have a day to think about it.