Evaluating my first 50 options trades in 2023
Updated: Jul 15
Just a couple of weeks ago I hit 50 option trades in 2023 and thought it would be interesting to share things like what the win rate is, which stocks these trades are in, and a few takeaways.
It's a little harder to see the big picture with just a couple of trade updates every weekend, so I hope you enjoy this video. While you're checking it out, I'd love it if you could subscribe to the channel on Youtube. I'm thinking of pushing out more video content this year - let me know what you'd like to see!
New trade in TXN
I recently opened a position in TXN, selling a $145 cash-secured put expiring on Jun 16 for $105 in premium. This means I'm making a promise to potentially buy 100 shares of TXN at $145 a share, and being paid $105 up front to take on this risk.
At the moment TXN is trading at just under $162, so there's about a $17 buffer between the stock price and strike price. At the same time the option is now worth $72, so I'm sitting on an unrealised profit of $33. With 34 days to go in this trade, there's some time to let it run, but I do have an order in to close it for 50% of max profit and will be hoping that gets hit in the next two weeks or so.
That's it for this week - the long-running JNJ position is expiring next week and it's looking a little precarious right now. I'll update how it ends up one way or the other next week.
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