Wednesday, 6 September 2023

Experiencing another loss in my family

My grandmother passed on about 1/2 week ago and it really is in the midst of our busy life where we pause and gather to mourn the passing of an important person in our lives.

Seeing my grandmother’s life, she has worked hard all her life, providing care and support to our family and to those around her. Life was tough during her time and I would remember fondly when I stayed over at her place and she would cook and take care of me.

One most memorable memory with my grandparents was when in the wee hours of the morning (I used to stay over at their place alone as my primary school was nearby and I was in the morning session), someone shouted FIRE and there was commotion within the estate. We woke up and found smoke rushing into the flat, we wasn’t sure what was happening but my grandma rushed us to get a cloth and wet it to place it over our nose. As a small room was being added to the flat unit at that time as part of an upgrading project, we climbed over the concrete barrier, closed the window tightly (supposedly the door but it was not yet completed) and hid in that small room. My grandfather shouted down for help and we just stayed in there.

My grandmother was very calm and to be honest, being a primary school kid, I was panicking and I told them that I wanted to pee hahaha, what great timing. I really thought I was gonna die as images of being dead at such a young age flashed through my mind. My grandmother found a plastic bag and told me that I could pee into it which I did.

After some time, the firefighters came and extinguished the fire and it originated from the 2nd floor unit below us so the smoke and fumes travelled upwards which explains why the house was filled with smoke making it impossible to escape at that time. I was relief but did have some scary thoughts whenever I stayed over.

Memories

There were many memories with my grandmother as I used to stay with them in the afternoon when I was young while my mum was at work. I remember reaching home from school and starting to play video games and when the time was nearer towards my mum coming back, my grandmother would pester me to bathe and not play games as my mum was gonna be back any minute.

It was nice to have someone there to tell me what to do and help prepare my meals. I took it for granted when I was young that my grandmother would always be there for us but as time passed and I started working, I spent lesser time with her and every time I visited her, her health deteriorated and at a certain point, we all knew that we would not be able to taste her delicious cooking or hear her nag again.

I guess this is what life is, you work hard and build relationships and as you age, only the closest relations remain as many of my grandmother’s friends passed away earlier than her including my grandfather. My grandmother also had a helper who was really good to her and helped her and us a lot during her later years.

Letting go

I used to be really scared of losing my grandmother since she took care of me and we relied a lot on her when my mum was working full-time. She cooked lunch and dinner every single day and made sure to take care of us whenever my mum was busy working.

She was always there and her home was like a childcare centre as my cousins and I took turns staying there or having our meals there. This went on for quite some time although we moved out of her place when I was in secondary school but we still had our meals daily there until I was in polytechnic. As I progressed onto university and her health deteriorated, the visiting lessened and LNY (Lunar New Year) was really the only huge event when everyone would be there. We spent lesser time with her as we got a helper to take care of her and we all became busier with life.

I remember there were a few times when she felt ill and we rushed over to her place, for the first few times, I cried when I went over as the thought of losing her was painful. This went on for a few years and even more frequent this past year as she went into the hospital a few times and each time, the doctor would tell us that she would not last long but she was strong and like what my brother said, “Ah ma was a fighter and survivor”. She would bounce back from her critical condition each time and we took it for granted until now when she could no longer fight.

We took her passing relatively in our stride because we had so many ‘warnings’ and also because we knew it was a relief for her especially the past year where she became bedridden and was not able to take any solid food towards the last few months of her life.

Thank you so much Ah ma for all the love and care you have given us, we definitely took you for granted but know that we will always miss you for all that you have done for us. We love you and see you.

Sunday, 6 August 2023

Trying my hand in selling options | Collected $300 in premiums so far

I was watching some videos on options and also KelvinLearnsinvesting and here, where he provides such a great simpler version and so it is much easier to understand so I decided to check out how it works. I first needed to learn how it works and so I read and watch video tutorials on covered calls and cash secured puts.

There are a lot of information online and I won’t go too deep explaining it since I might get it wrong too but for a covered call, you will need 100 shares and you are selling a call option and if the price of a stock reaches the strike price or beyond what you selected then you will need to sell your 100 shares and you will lose the difference if the stock prices goes up up and beyond your strike price where you would also get to keep the premium. If it doesn’t hit the set strike price you selected then you can keep the premium after it expires and continue selling covered calls.

For cash secured puts, you will need to prepare cash for 100 shares of whatever you are selling a put option for so in case the stock prices drops to what you set, then you will need to pay for the 100 shares and keep the premium if it doesn’t hit then, you can keep the premium and continue with your cash secured puts. I hope what I have said is correct but I have started a few transactions and so far, it’s been profit but this is in a short term market and a market that is trending downwards (due to Fitch downgrade) so covered calls so far has been great.

My experience

  • Palantir shares

I do have 100 shares of 2 stocks and I have started buying covered calls on them. Both are pretty volatile stocks and they are…………Palantir and Tesla but for starters, I chose Palantir as it is an easy entry into getting 100 shares but I did make a mistake where I bought a month long covered call (also cos the premium was more) and it will expire after the earnings call which is scheduled for 7 August 2023. To be honest I was aware of it but I did not know the price will fluctuate so much.

When I bought it, it was not at it’s current price, it was lower and I bought a covered call expiring on 11 August 2023 with a strike price of $21 since my cost price is about $20 (bought during the high). I collected a premium of $54 (USD) for it. This was my first covered call and I didn’t mind losing the 100 shares and wanted to familiarise in using the platform and how it will be. More of a learning experience, if I have to sell it, at least I would learn it at a lower cost.

As Palantir shares started going up in value due to the AI hype and upcoming earnings, my covered call become less valuable, I did panic a little but wasn’t really worth it to close or to roll it. I know that I could roll my position but the loss would still be there. So I am just holding onto it at the moment and see how it goes. If it sells off due to the shares hitting $21 then I will just change and sell cash secured puts on it.

  • Tesla shares

Tesla shares are super volatile and we can definitely see that over the years. So far, I have sold weekly options on it with premiums of about $100 per week. It has been trending sideways/downwards so I have been earning the premiums and selling it on a new week. I started from setting my strike price at $280 and for this week, I set it at $270. I am setting the strike price to be further out of the money to maximise my profits in case it hits beyond and yet a comfortable premium that is substantial. The week has ended so next week, I would see how it is and sell a new covered call.

My cost price for my Tesla shares are lower than the current price so selling it at any price would be a profit for me however we know that Tesla shares are very volatile and if a sudden good news comes up the price will shoot up so if it hits my strike price then I would have to sell the 100 shares hence limiting my upside. But I can go ahead and sell a cash secured put right after.

Weekly call options has been good and I will continue but if the market turns super bullish then I might take a pause and see how it goes. It has been an exciting journey and I have learned along the way, a lot more to be learned since I have just started about 3 weeks ago. A lot of things can only be learned on the job so getting started has been the first step to learning.

How I track my transactions

I have been using the google sheet from KelvinLearnsinvesting and it has been a great experience. I am using interactive brokers to administer the selling of options. A sideway market is great for this and I shall see how it goes, will share more on my journey. My DCA-ing into index ETFs still continues. Still very new and will just try and learn more of it for some time.

 You can also find me on

Affiliate links/Codes:

► Where I Buy my Cryptocurrencies:
►Use my referral link https://crypto.com/app/evwynu4g57 or code: evwynu4g57 to sign up
►Gemini: https://gemini.com/share/558gylyhg use my code and we'll each get $10 USD of Bitcoin.
► Where I buy my stocks:
FSMone Referral: P0364886
Tiger Brokers
Interactive Brokers (Open an account today and start earning up to $1000 of IBKR Stock for free!*Terms and Conditions apply)
► Google Pay: v89ph61
►Syfe Trade Referral Code: SRPSL8MGX
►Syfe Wealth Referral Link: SRPSL8MGXE