Anatomy of some AMD CSPs lately...
First, let me thank u/scottishtrader for all their contributions.
Second, let me state that this is all paper trading. I've not been able to devote myself full-time to trading yet, so keeping it notional until I can.
I started CSP positions on AMD on October 30 (after earnings announcement).
Stock was at $149 on initiation.
Stock is now $121.80.
So a position of 100 shares in the underlying would be down $2720.
The chart, in a word, sucks.
Initial Trade: Stock 149, 140 strike, 28-Delta, 37-DTE. $4.10 premium. BB at $7.80 and rolled "down & out" when it went below net cost on Friday 11/15, which turned out to be an interim low. Stock was back at 140 on Monday 11/18. C'est la vie. -$370
2nd Trade: Stock 134.9, 130 strike, 35-Delta, 42-DTE on 11/15. $4.45 premium. Bought Back Monday 11/18 at $2.86. Rolled to a higher strike. +159
3rd Trade: Stock 139.85, 135 strike, 35-Delta, 39-DTE on 11/18. $4.50 premium. Bought back Monday 12/2 at $2.07. Rolled out at the same strike. +243
4th Trade: Stock 142.41, 135 Strike, 29-Delta, 39-DTE on 12/2. $3.35 premium. Bought back Monday 1/6 at $5.45, and I damn near pegged the near-term bottom. Stock is back to 122 range & this option is trading at IV of about $13. -$210
Overall P/L : -$178
I think my only tactical error was not holding the initial trade a little longer, which I way more than made up for in me exit timing, but I am generally pleased to be down only $178 trying to make money selling puts on a stock that is down 19% over 10 weeks.
