#FuzzyLEAPs first month review:

Today marks the end of my first month of trading #FuzzyLEAPs with real money. Here’s where the strategy stands as of now:

Total cost of 4 LEAP puts: $358,640
Current value of LEAPs (approx., based on Mid): $400,000
Total credit received: $28,964
% Return so far: 8.07%
Annualized (simple, not compounded): 96.9%
(Returns % based on credit received only, and not counting gains on the LEAPs, as I consider those gains temporary.)

As we all know, this has been an almost perfect month to be running a strategy like this, since the SPX has been bouncing around enough to create decent premiums, but it hasn’t made a big move one way or the other.

Also, I have been extremely conservative by only selling against some of the LEAPs most of the time, as well as targeting the lowest strikes possible to bring in the desired premium. So, the total credit received could have been quite a bit more than it was.

I just thought that a review of how the strategy has done might benefit anyone else interested in it. Future returns will, of course, vary widely. I will keep doing a monthly update internally, but will post it here if anyone is interested. I would also love to see what results others are seeing if anyone wants to post that as well.