Income Plan From Dividends and Option Trading Q4 2019 ($1,000/mo)

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I have a plan to make at least $1,000 per month for the next 3 months of the year in dividend income + selling options.

Here is the long story short - I've been investing in dividend stocks since early January 2017, fast forward to the first quarter of 2019 and I've started writing puts and calls on dividend stock I own or would mind having in our stock portfolio. Option writing has given a real boost to the monthly income

There has been a tremendous growth both in earnings and knowledge acquired since I originally announced my million dollar saving plan. My focus has shifted away from the simple set and forgot peer to peer lending to dividend growth investing and options trading. With the latest discovery being selling Iron Condors on individual stocks like AMD, HD, and TSLA.

My million dollar growth fund consists of 5 main pillars at the end of September

  • peer to peer lending
  • dividend income from stocks
  • selling options on cryptocurrencies
  • selling options on stocks
  • Selling Iron condors

Income from peer to peer lending and dividends from the stock are true passive income. Which combined on average will make me about $2,500 yearly or $208/mo in 2019. See: 2018 in Review and Financial Goals for 2019

It was at the end of June when I set a goal to reach at least $600/mo from dividends + options trading for the next three months (July, August and September 2019).

For my great surprise, I cracked that goal with ease and actually made way more than planned (August did set an about best with more than $1,700 collected in premiums and dividends). For the past 3 months (Q3 2019) I have never been lower than $1,000

That's why I decided to set goals and make plans for the Q4 2019

I could, of course, raise this number to $1,500 for example, but I have decided to stick with more humble and more realistic numbers, that's why $1,000

Here is the plan:

  • dividend income (from p2p lending and stocks) ~ $250/mo
  • options on cryptocurrencies ~ $250/mo
  • puts and calls ~ $200/mo
  • Iron Condors ~ $300/mo

More or less I don't see any problems reaching my goals with dividend income and selling puts and calls, the huge unknown, for now, is selling options on cryptocurrencies and Iron Condors. But again, in the past months, I've been pulling out from crypto options about $500/mo, that's why I believe reaching at least $250, shouldn't be problematic. 

Regarding Iron Condors - I plan to sell on mini futures (ES), indexes (SPX) and individual stocks. I will experiment a lot, with different days to expiration (DTE), but in general, I plan to make one Iron condor trade per week (probably on Fridays?). If so it would ask me to generate at least $75 weekly to crack $300 goal from Iron Condors. Doesn't sound so scary anymore.

If successfully reached, I have some great plans for 2020 already, they sound like this - to raise income to $1,500 in Q1, $2,000 in Q2, $2,500 in Q3 and $3,000 in Q4. These numbers actually doesn't sound scary to me, I don't feel like I would be lying to myself when talking these numbers, yes $2,500 and $3,000 part sounds a bit scary - but I would like to say - hard but doable. If counted all together -  the total planned income for 2020 would be around $27,000. Now that is some serious boost to the portfolio. I probably could reach that $100,000 goal by the end of 2021?!

Frankly speaking, I would be happy pulling just $1,000/mo for the next 12 months as this is the amount I'm currently investing on a monthly basis to our portfolio.

Anyhow lets trade safely and see if we can get to the $1,000/mo goal for the next 3 months before planning further.