I made 45 returns last year. Mostly unlevered. I made these returns bcos of
Theta decay+ fundamental research + dollar cost avg / ladder / layer + luck (good overall market returns for the period) + timing
Everyone is a genius in a bull market. So take it with a pinch of salt. Only looking to help and LEARN.
Some trades form 1/7/2026
QXO - $20 CC Roll from 1/16 to 2/20 for $35
INTC - CC ROLL UP AND OUT - 1/16/2026 36.5 2/20/2026 37 - $55 in premium and $50 in strike difference.
UAA - 1/16 $6 put - $35
SLV - PUT ROLL DOWN from 1/7$70 -1/9 $65 for $22
Post with proof of 45% return
[https://www.reddit.com/r/thetagang/comments/1q59cq2/a\_phenomenal\_2025\_up\_45\_thank\_you\_to\_thetagang/](https://www.reddit.com/r/thetagang/comments/1q59cq2/a_phenomenal_2025_up_45_thank_you_to_thetagang/)
Sample trades - 1/6/2026
[https://www.reddit.com/r/thetagang/comments/1q5viwl/i\_made\_45\_returns\_last\_year\_these\_are\_some\_of\_my/](https://www.reddit.com/r/thetagang/comments/1q5viwl/i_made_45_returns_last_year_these_are_some_of_my/)
Not investment advice. These are all cash secured. Not on margin. These are a small part of my portfolio. I made other trades as well today. I have multiple accounts. I manage actively. I ride some positions to expiry, I roll some, I close some (for profit or loss), I take assignment on some. I roll up , I roll down, I roll out and I roll in. In most cases my initial trade are only a tiny fraction of my max exposure for that ticker so I can DCA for a long time. I have DCA on some companies (MPW) I think 80% down and eventually made it a winner, I was able to do that bcos it was still a tiny % of my overall portfolio and I had faith it had bottomed out.