Recap: Trade log for the week of March 23
Another defensive week. Monday was mostly cleanup and reset work, starting with an FCX roll. We bought back the two $58 CSP carryovers at $3.57 and immediately sold the 4/2 $56 CSPs for $2.82. The point was lowering the strike by $2 and extending the trade while still leaving the full FCX sequence with about $105.80 in net premium collected so far. Same idea on the covered call side. The older DG $135 call and both QCOM $140 calls were bought back on Monday, then re-sold out to the next cycle so the shares kept paying us while the market stayed heavy.
NVDA gave us the cleanest short term trade of the week. We sold the $192.5 covered call on Monday for $0.26, bought it back Friday at $0.04, and then sold a fresh $185 call into next week for another $0.20. That is basically how this tape has to be traded right now. Short leash, take the decay when it shows up, and re-sell when the stock gives you a window. DG kept the $135 strike, QCOM stayed at $140 in both accounts, and all of it was about keeping positions realistic instead of reaching for strikes that the market has no interest in supporting.
Barrick is the only true carryover left from prior weeks. Everything else was either closed, rolled lower, or reset tighter. Premium improved to $728 on about $90k deployed, which is a lot better than last week, but the posture has not changed much. This still is not a market to get cute with. Keep the duration short, keep the strikes honest, and make the tape prove it can hold a bounce before putting on anything aggressive on the put side.
Q1 is almost in the books, and we are barely outperforming SPY, sitting at -7.4% YTD on our average weekly deployed capital (~94k), with most of that drag coming from the two QCOM positions, both of which are down over 20% since assignment. Drawdowns are normal and part of the process no matter what type of trading you do. What separates profitable traders over time is how those drawdowns get managed. Do you go chasing premium and trying to make hero plays, or do you stay patient and manage the positions in front of you? This is not the tape for forcing trades or pretending you can nail every bottom.
| Type | OpnOpen | Exp | ClsClose | TicTicker | StkStrike | Qty | Fill | ExtExit | Fee | Cap | P/L$ | ROC |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CSP | 3/23 | 4/2 | FCX | 56 | 2 | 2.82 | 0.00 | 1.40 | 11.2k | 562.60 | 5.02% | |
| CC | 3/23 | 4/2 | 3/27 | NVDA | 192.5 | 1 | 0.26 | 0.04 | 0.69 | 19.15k | 21.31 | 0.11% |
| CC | 3/23 | 4/10 | DG | 135 | 1 | 0.75 | 0.00 | 0.80 | 13.5k | 74.20 | 0.55% | |
| CC | 3/23 | 4/2 | QCOM | 140 | 1 | 0.25 | 0.00 | 1.05 | 16.75k | 23.95 | 0.14% | |
| CC | 3/23 | 4/2 | QCOM | 140 | 1 | 0.27 | 0.00 | 0.67 | 16k | 26.33 | 0.16% | |
| CC | 3/27 | 4/2 | NVDA | 185 | 1 | 0.20 | 0.00 | 0.67 | 19.15k | 19.33 | 0.10% |
📥 Download Full YTD Trade Log (PDF)
Open positions from previous weeks that are counted towards deployed capital. These positions did not generate premiums this week.
Closed positions from previous weeks that are counted towards deployed capital. These positions did not generate premiums this week and may have reduced premiums earned from previous weeks.
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