Welcome to my first option income post of 2017. My January options income came in over $1,000. I’ve managed to crack $1,000+ for the past six-months. I’m really excited about this income because it helps to feed this fire. I either use the extra cash to sell more options, or I buy dividend stocks with this money.
January Options Income
In January, I had 14 options contracts closed or assigned. My January options income total is $1,436.01. This is my take home, realized income. It’s the amount of money I earned after trading and transaction fees, losses from closed contracts, and any other miscellaneous costs. The breakdown of income and expenses, is as follows:
Total Revenue: $1,506
Net Revenue: $1,436.01
Closed January Options Contracts
The options tracker below, shows all 14 transactions. All contracts are closed and were closed in the month of January.
Eleven contracts were profitably closed early or expired worthless. Two contracts (QCOM and T) were assigned. AT&T was a covered call. I sold 100 shares at $39 per share, plus the premium of $119.52. I wanted to reduce my stake in AT&T, so this was the expected result.
The other assigned stock was QCOM. This one bit me in the backside. Apple filed a lawsuit against Qualcomm and the stock tanked more than $10 per share. I had hoped for a recovery, but it hasn’t come yet. I ended up buying 100 shares at $64. I did collect a premium of $113.90, which reduced my buy price slightly. I hedged my loss here by buying 100 shares of QCOM at $54.98 and selling a short covered call. This call expired worthless and paid me a premium of $89.33. I now own 200 shares of QCOM at an overall cost basis of $58.15. I don’t want 200 shares, so I’ll be selling covered calls on 100 of these shares until they are called away.
Open Options Contracts
I have 5 open contracts. Total available income of my open contracts is potentially $960.42. Of course, I close most contracts before expiration, not likely to happen.
January Options Income and Annual Options Income
January 2017 options income was higher than January 2016. I earned $1,436 this year and $627.17 last year. This is a revenue increase Y0Y of $808.84
I’ve set a 2017 options income goal of $7,500. I need to earn $6,063.99 more to hit this goal. This works out to a remaining monthly average of $551 per month. I have slowed down my options trades, because I haven’t found much value in the marketplace. I expect to have a few months under $500, but I should still reach this goal.
How much was your January options income?