Half-Year Review — From +$17,752 to Net $1,219: My Options Seller Survival Report
💡 Reading time: ~12 minutes ｜ Series: Strategy Advanced #4 (Finale) 📊 This is the last post in the 20-article series. The books are fully open, no美化, no editing.
Half of 2026 is done. Time for a complete review.
Half-year scorecard
| Metric | Value |
|---|---|
| Trades | 13 |
| Winning trades | 12 |
| Losing trades | 1 (+ GOOG $385 lost $3) |
| Win rate | 92.3% |
| Total premium income | $224,924 |
| Total closing cost | $234,775 |
| Realized net P&L | +$1,219 USD (≈ NT$38,497) |
| Average margin ROI | 1.5% |
| Average annualized ROI | 76.4% |
Monthly trend chart
Month P&L Trend
─────────────────────────────────────────
Jan +$3,714 ████████████▓ 🟢 Perfect start
Feb +$2,934 ██████████▓ 🟢 Steady rent
Mar-Apr +$4,500 ███████████████▓ 🟢 Full collection
May -$9,926 ██████████████████████▓ 🔴 Devastating blow
Jun Roll Out ────────────── ⚠️ Rebuilding
─────────────────────────────────────────
Total +$1,219 📊 Barely alive
The three best trades
| 🏆 | Trade | Net P&L | Highlight |
|---|---|---|---|
| 🥇 | GOOG stock 500 shares | +$3,925 | Strategic trim, 3-day profit |
| 🥈 | GOOG SP $295 (full collection) | +$2,625 | Zero operations, 45 days in |
| 🥉 | NVDA SP $175 (full collection) | +$1,875 | Zero operations, 45 days in |
Common thread: ample safety buffer (6%–10%) + enough holding time.
The two worst trades
| 💀 | Trade | Net P&L | Cause |
|---|---|---|---|
| 1 | GOOG SP $370 (roll-out) | -$10,470 | Strike too close + 6 contracts |
| 2 | NVDA SP $223 (roll-out) | -$6,060 | Strike too close + no timely stop |
Common thread: insufficient safety buffer (< 2%) + oversized positions + hesitation on stop.
Complete trade-by-trade record
| # | Open | Underlying | Strategy | Contracts | Strike | Net P&L | From stock | Result |
|---|---|---|---|---|---|---|---|---|
| 1 | 01/06 | GOOG | Sell Call | 6 | $320 | +$1,578 | N/A | Assigned |
| 2 | 01/12 | NVDA | Sell Put | 6 | $170 | +$990 | -8.1% | Closed |
| 3 | 01/12 | GOOG | Sell Put | 3 | $310 | +$1,146 | -4.6% | Closed |
| 4 | 02/04 | GOOG | Sell Put | 3 | $320 | +$780 | -0.6% | 2-day flash |
| 5 | 02/06 | GOOG | Sell Put | 3 | $310 | +$795 | -3.7% | Closed |
| 6 | 02/06 | NVDA | Sell Put | 3 | $165 | +$1,359 | -10.8% | Closed |
| 7 | 03/17 | GOOG | Sell Put | 3 | $295 | +$2,625 | -6.3% | Full collection |
| 8 | 03/17 | NVDA | Sell Put | 3 | $175 | +$1,875 | -10.3% | Full collection |
| 9 | 05/05 | GOOG | Sell Put | 3 | $370 | +$690 | ~-1% | 2-day flash |
| 10 | 05/05 | AAPL | Sell Put | 3 | $270 | +$909 | ~-3% | 2-day flash |
| 11 | 05/07 | GOOG | Sell Put | 3 | $385 | -$3 | ~0% | 8-day stop |
| 12 | 05/07 | AAPL | Sell Put | 3 | $285 | +$1,080 | ~-2% | Closed |
| 13a | 05/15 | GOOG | Stock | 500 shares | — | +$3,925 | — | Trim |
| 13b | 05/15 | NVDA | Sell Put | 6 | $223 | -$6,060 | -0.9% | Roll out |
| 13c | 05/19 | GOOG | Sell Put | 6 | $370 | -$10,470 | ~-1% | Roll out |
Five big lessons from the half-year
Lesson 1: safety buffer is the foundation of everything
Trades with stock distance ≥ 8% → all winners. Trades with stock distance < 2% → all losers or near-losers.
This isn’t coincidence — it’s a hard rule.
Lesson 2: position size determines life or death
Same misjudgment:
- 3 contracts → controllable loss ($2,000–$3,000)
- 6 contracts → fatal loss ($6,000–$10,000)
H2 rule: default 3 contracts, special circumstances only to go to 6.
Lesson 3: time is the seller’s best friend
45-day mid-term hold → Theta fully expressed → highest success rate. 2–3 day flash → quick gains but high risk → only as a side dish.
30–45 days is the sweet spot for Sell Put.
Lesson 4: discipline beats smarts
Jan–Apr with discipline → steady +$11,148. May loosened discipline → one -$16,530.
Discipline isn’t for following in tailwinds — it’s for surviving headwinds.
Lesson 5: survival matters more than money
Net profit for the half-year: $1,219. That number doesn’t look good.
But I’m still alive. The account is still there. I learned the lessons. And I’m a hundred times stronger than the January version of me.
The first goal of options trading isn’t to make money — it’s to not get knocked out.
Five strategic adjustments for H2
| # | Adjustment | Old rule | New rule |
|---|---|---|---|
| 1 | Safety buffer floor | Vague (sometimes 5%) | ≥ 8%, no exceptions |
| 2 | Single-trade contract cap | 3–6 contracts | Default 3, 6 needs special approval |
| 3 | Number of simultaneously held underlyings | 2 | 2–3 (regularly include AAPL) |
| 4 | Monthly stop-loss line | None | Stop trading if monthly loss > $5,000 |
| 5 | Before every entry | Sometimes skipped | Must write the decision journal (reason, stop, target) |
Current position outlook
| Position | Strike | Expiry | Price | From strike | Status |
|---|---|---|---|---|---|
| NVDA SP $215 × 6 | 8/21 | $212.45 | -1.2% | ⚠️ Slightly ITM | |
| GOOG SP $375 × 3 | 8/21 | $367.11 | -2.1% | ⚠️ Slightly ITM |
Both are near the strike. The next 8 weeks are the decision moment.
Three possible outcomes:
- Best: stock recovers → OTM expiry → new positions full collect → turnaround
- Medium: stock rises slightly → close early to recover 50%+ → small loss exit
- Worst: keeps falling → second roll or cut loss → losses deepen
Whatever the outcome, I’m ready. The rules are there, the stops are there, the mindset is there.
Final words for the series
20 posts, done.
From the basics of Sell Put, to risk rules, Greeks primer, account opening. From January’s perfect opening, to May’s darkest hour. From textbook trades to the biggest single loss. From roll-out mechanics to shattering the win-rate illusion.
Every number, every trade, every mistake in these 20 posts is real.
I’m not a trading master. I’m a 28-year-old from Taiwan, using my own money, my own time, my own discipline, finding my way in the US options market.
After half a year, the account shows just $1,219 more.
But I got something more precious than money — a system validated by real trading, a discipline refined from losses, and the courage to keep going.
If you want to walk this path too, remember three things:
- Learn risk first, then learn to make money.
- Safety buffer 8% or more, no exceptions.
- Survival is the biggest win.
See you in H2.
📌 Little Otter: Thanks for reading all 20 posts. If this series helped you — even if it just helped you avoid one impulsive trade — then writing them was worth it. Options aren’t gambling; they’re a business run on discipline. Let’s go together.
Disclaimer: This article is a personal trading experience share and review, not investment advice. Options trading carries high risk and may result in total loss of principal. Past performance does not represent future results. Please fully understand the risks and consult a professional before investing.
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