Four trades. 4.54% average monthly return.
Hi folks,
May was a lot here.
The new book launched. I spent time helping a couple of legends map out their retirement plans abroad, which is the kind of conversations that remind me why I do this. There was some dog sitting thrown in and some Venezuelan food of course. The usual beautiful chaos.
Oh, and a little options trading sprinkled in there. We needed rent after all. 😂
Each month I share a short breakdown of how I use options to generate consistent, passive income in roughly an hour or so. Just like a property developer walking you through a house flip, I’ll show you exactly how I structured each trade — full transparency.
This isn’t all the trades I do of course. For more of them, join the free Options Trading Discord here.
Here’s a taste of what happened in May.
✅ Trade #1: Covered Call on Palantir (PLTR)
Position Type: Covered Call
Entry Date: 7 May 2026
Expiry: 22 May 2026
Contract Length: 15 Days
Strike: $149
Premium Collected: $202
Cash-on-Cash Return (CoCR): 2.01%
What If?
If PLTR stays below $149: I keep the shares and the $202 premium. Move on to the next trade.
If PLTR goes above $149: 👉 Capital Gain on shares 👉 Premium = $202 👉 I still win — just with a cap on the upside.
PLTR had run hard going into May. The $149 strike sat comfortably above where I thought it was realistically heading in two weeks. $202 collected on a position I already owned, for roughly 2 minutes of work. That’s the covered call in a nutshell.
💵 Trade #2: Cash-Secured Put on Uranium ETF (URA)
Position Type: Cash-Secured Put
Entry Date: 13 May 2026
Expiry: 18 June 2026
Contract Length: 36 Days
Strike: $50
Premium Collected: $195
Cash-on-Cash Return (CoCR): 3.9%
What If?
If URA stays above $50: I keep the $195 premium. Done.
If URA drops below $50: I get assigned shares at $50 — a stock I’m happy to own at that price — and immediately start selling covered calls to lower my cost basis further.
Uranium has been under pressure. The thesis is simple: I’d be comfortable owning URA at $50. The $195 premium gives me a meaningful buffer below current price, and I get paid to wait. Nuclear energy isn’t going anywhere. This is a conviction trade dressed up as a monthly income trade.
✅ Trade #3: Covered Call on Super Micro Computer (SMCI)
Position Type: Covered Call
Entry Date: 29 May 2026
Expiry: 18 June 2026
Contract Length: 29 Days
Strike: $37
Premium Collected: $152
Cash-on-Cash Return (CoCR): 5.5%
What If?
If SMCI stays below $37: I keep the shares and the $152 premium.
If SMCI goes above $37: 👉 Capital Gain on shares 👉 Premium = $152 👉 Total return gets even better.
SMCI is volatile. That volatility inflates covered call premiums, which makes it one of the better wheels in the market right now. The $37 strike gives me meaningful upside if the stock runs. The $152 hits the account regardless. This is the Wheel Strategy doing exactly what it’s designed to do — turning volatility into income.
💵 Trade #4: Cash-Secured Put on Ondas Holdings (ONDS)
Position Type: Cash-Secured Put
Entry Date: 3 June 2026
Expiry: 18 June 2026
Contract Length: 17 Days
Strike: $11.50
Premium Collected: $54
Cash-on-Cash Return (CoCR): 4.69% in 17 days — approximately 6.76% per month
What If?
If ONDS stays above $11.50: I keep the $54 premium. Clean exit.
If ONDS drops below $11.50: I get assigned shares at $11.50 — already a heavily discounted entry — and start the Wheel from there.
ONDS has been in a sustained downtrend. That’s exactly when the premiums get interesting. The $11.50 strike gave me a solid buffer below where it was trading and nearly 5% in under three weeks is hard to walk past. Either outcome here works in my favour.
📊 May Summary
And this isn’t even all of the trades from May — just the highlights.
May was packed. Book launch, helping mates plan their escapes, a dog that decided my apartment was his. Options trading barely got a look in. And yet the portfolio just quietly did its thing in the background anyway.
That’s what I keep coming back to with this strategy. It doesn’t care how busy life gets. A few minutes, a handful of trades, consistent income. Every month, like clockwork.
🧠 Options Tip of the Month: Capitalising on Earnings Day Hangovers
In the days leading up to earnings, implied volatility spikes as the market prices in uncertainty. Then the report drops, the stock moves, and the uncertainty is gone — but the inflated premiums haven’t fully deflated yet.
That’s your window.
For a few days after earnings — sometimes up to a few weeks — you can still sell calls or puts at premiums that reflect yesterday’s panic rather than today’s reality. The risk event has passed. The market just hasn’t caught up yet.
Think of it like selling an umbrella the day after a storm. Everyone was paying a premium for protection yesterday. Today the sun is out — but the price hasn’t adjusted yet.
Watch your watchlist around earnings season. If a stock you like has just reported and the premiums still look fat — sell it. You’re not predicting the next move. You’re just hoovering up what the panic left behind.
Right. That’s enough from me for May. See you in June with more trades, more chaos, and hopefully a slightly less crowded calendar.
Want to see the trades as they happen?
Every trade in this article was posted to our free Options Trading Discord before I pulled the trigger. Entry, strike, premium, reasoning — all of it, in real time.
No courses to buy. No paywall to get in. Just a group of people learning to trade options, sharing ideas, and building income streams that don’t care how busy life gets.
Come and have a look. It costs nothing. If you want to go deeper, The Alpha Desk is our paid channel inside the server — where I share live trades, watchlists, and full breakdowns as they happen.
But start with free. See if it’s your kind of place.
We hunt better in packs.
Happy Trading,
Andy
