how i turned $1,500 to $62,000 in one month

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My first trade was buying 2 contracts of QQQ puts. QQQ is an ETF comprised of Nasdaq tech stocks. It’s also fairly volatile. I was betting that the price would be lower than $216 by March 6th. I paid $424 for each contract for a total of $848. Luckily for me, the market took a little tumble and two days later, I sold both contracts for $1,670 apiece for a total profit of $2,492.

My next big trade was as follows: On March 2nd, I bought 20 contracts of Las Vegas Sands puts. I figured things were going to get shut down due to the pandemic and their casinos would take a hit. These contracts were $107 apiece. Well, I was right and the stock continued to tumble. By the 16th, the share price had gone from $58 to $40. My options were now worth $800 each. I decided to sell 14 of my 20 contracts for $11,200… netting a $9000 profit. And I still owned 6 contracts in case the stock continued to fall. I ended up selling the final six contracts on April 3rd for $810 apiece. The total trade netted me $13,860 in profit… all from a $2,140 initial options purchase on LVS.

Okay, then I bought two contracts of Spy puts on March 4th for $547 each. In case you aren’t familiar, Spy is an ETF that tracks the S&P 500 – so it’s not just a single stock like Apple. Just five days later, these same contracts were worth $23.90 so I sold them for a profit of $3686.

On March 10th, I played Spy again, purchasing 5 contracts of puts for $805 apiece. Six days later, I sold 4 of the 5 contracts for $28.55 apiece, netting a profit of $7,395 and leaving me with one contract, once again, in case the market continued to fall. I ended up selling that last contract for $3,956 for a grand total of $11,351 in profit on March 18th. Now If I would’ve held all 5 of my contracts until the 18th, I could’ve made an extra $4,000 in profit, but you never want to let your green positions turn red and it’s impossible to know what the market will do the next day. You’ll never go broke by locking in profit – as they say, pigs get fat, hogs get slaughtered.

I played Spy puts a few more times. I bought 3 contracts for $6.61 on March 10th again, selling 8 days later for $3290 per contract for a total of $7,887 in profit. At this point in time, all of my puts were really paying off. I did play Spy Calls on the 17th. I bought 5 contracts of $254 calls for $620 each and sold just before the market closed that day for $845 each, for a quick $1100 profit.

I think my first losing trade was on March 18th when I bought 10 contracts of CODX for $110 each. That trade went against me and I sold the next day for $40 per, losing $700.