June 2022 featured mostly bear market both in stocks and cryptocurrency; I started writing this post mid-June where 2 key events took place: 1) US Fed just announced raising benchmark interest rate 75 basis points and 2) 3AC, Celsius failing their investors after TerraLUNA crashed in May 2022.
Stocks/ Options Trading
My key strategy of selling cash-secured PUT option contracts are as follows:
- SOLD -1 GRAB 100 17 JUN 22 2.5 PUT @.10
- SOLD -1 ARKF 100 17 JUN 22 15.5 PUT @.30
- SOLD -1 NIO 100 17 JUN 22 16.5 PUT @.40
- SOLD -1 CPNG 100 17 JUN 22 10.5 PUT @.17
- BOT +8 SE @76.34 (Yes, I bought a very small position on SEA Ltd)
But, as the market price went below the strike price, the stocks might be assigned to my account. With a bear market, this means I will be taking on loss positions.
To reduce loss numbers, I shall be trying to sell CALL option contracts next on these stocks. In a Bear market, the alternate strategy is to buy PUT options. This is what she (Mrs) did and it is likely to earn her a nice profit from AMD stocks to buy our newborn stroller from Joie
For Crypto, I currently hold small positions in CHAINLINK ($LINK), POLYGON ($MATIC) and TEZOS ($XTZ) through Coinbase. As the crypto market rout goes on, I am not expecting any returns in the short to mid term. The above projects are more than the usual hype, they hired great teams, are making useful and innovative products and spending huge effort to drive higher adoption and partnership.