Discover more from Covered Calls with Reinis Fischer
Week #23 Ethereum Options Trading Results (+0.0032 ETH)
On Friday, May 19, 2023, 1 ETH traded at $1,806 while the total value of our Ethereum / EUR / USDC portfolio was worth $1,712.12, which is about 17.12% from our $10,000 goal.
Week over the week we booked growth of more than $100 for the portfolio, but for the truth's sake, we deposited some additional USD 70 on Bybit for testing some trade ideas.
Last week we also booked a small +0.0032 ETH profit, which comes from the put option that expired worthless on May 19.
Our Ethereum portfolio grew by 6.77% last week of its value. In dollar terms $108.58.
One of our short-term goals is to grow the portfolio back to its all-time high of $1,802, which was recorded at the start of January 2023.
Total ETH available: 0.8288 (+0.0174)
Most of the funds are invested in ETH itself, we have a small portfolio in EUR and USDC. Last week we moved a few USDC to bybit trading platform just to give a try to USDC/ETH options and already booked some humble profit of $0.45 from expired call options there.
At the moment, there are 4 call options opened with the following strikes and expiry dates:
2x1825 CALL (May 20, expiry)
1900 CALL (May 26, expiry)
2000 Call (June 30, expiry)
Last week we started to explore the idea of selling covered calls on perpetual futures, something I will talk about more next week.
Additionally, we bought 0.01 ETH on Coinbase.
In total: 63 trades since December 23, 2022
Options premium: -0.362 ETH