Markus Hoffmann
32 Jahre, Software-Entwickler aus München
Trading Experience: 1 year | Main Strategy: Covered Calls & Credit Spreads
"The first year was an emotional rollercoaster. I made mistakes, learned a lot, and am now more profitable than ever. Here are my key insights."
The Beginning: How It All Started
BeInOptions: Markus, how did you get into options trading?
Markus: I had a stock portfolio of about €50,000 – mainly tech stocks. One day I saw a YouTube video about covered calls. The idea of generating additional income from my existing stocks immediately fascinated me. I opened an account at Libertex and sold my first covered call on Apple stock. That was in January 2024.
First Trades - The Numbers
Month 1-3
+€2,100
Only Covered Calls
Month 4-6
-€1,800
Experiments with Naked Puts
Month 7-12
+€4,500
Disciplined Spreads
The 3 Biggest Mistakes
Too Much Leverage, Too Fast
Markus: "After my initial success, I got overconfident. I thought: If I make €200 with 10 contracts, I'll make €2,000 with 100 contracts. In April I sold naked puts on Tesla with way too much exposure. Tesla fell 15% – I lost almost €2,000 in one day."
Lesson:
Never risk more than 2-3% of capital per trade. Position sizing is more important than the strategy itself.
Emotional Trading
Markus: "In July I had 5 losing trades in a row. I was frustrated and wanted to recover the losses immediately. I doubled my positions and traded without a plan. This led to even more losses."
Lesson:
After 2 losing trades: Take a 1-day break. Keep a trading journal and document emotions.
No Exit Strategy
Markus: "I knew exactly when to open a position, but not when to close it. I often held losing positions too long hoping for a recovery."
Lesson:
Before each trade: Set stop-loss AND define profit target. At 50% profit I now close most positions.
The Biggest Successes
Consistent Monthly Income
Markus: "From August I developed a system: At the start of each month I sell covered calls on my tech stocks with 30-45 days expiration. Goal: 1-2% monthly premium income. The last 5 months were all profitable – averaging +€750 per month."
August
+€680
September
+€820
Oktober
+€750
November
+€690
Best Trade: IV Crush After Earnings
Markus: "In October I sold an iron condor before Microsoft earnings. IV was at 65% – extremely high. After earnings IV dropped to 35%. I was able to close the position with 80% profit after just 2 days. Profit: €1,200."
What I learned:
High IV = selling opportunity. I now always watch IV Rank and only trade when it's above 50%.
Advice for Beginners
BeInOptions: What would you advise someone who wants to start with options?
1. Start with Covered Calls
If you already own stocks, start with covered calls. Risk is limited and you learn the mechanics.
2. Paper Trading is Important
I wish I had spent 2-3 months paper trading. It would have saved me many expensive mistakes.
3. Understand the Greeks
Delta, Theta, Vega – these metrics are essential. I don't trade anymore without checking them.
4. Journaling is a Must
Document every trade: Why, when, how much. Analyze your performance every month.
5. Choose the Right Broker
I use Libertex because of low fees and good tools. With frequent trading, fees make a big difference.
My Current Setup (December 2024)
Main Strategy
- ▸70% Covered Calls on Tech Stocks
- ▸20% Credit Spreads at High IV
- ▸10% Iron Condors Before Earnings
Monthly Goal
1.5%
of portfolio value
That's ~€750 with my current portfolio. Realistic and achievable without excessive risk.
Most Important Rules
- 1.Never more than 2% risk per trade
- 2.Only trade at IV Rank > 50%
- 3.Close position at 50% profit
- 4.Document every trade in journal
- 5.After 2 losses: 1 day break
Start Your Options Trading Journey!
Learn from Markus' experience and start with Libertex – professional tools, low fees!
Start Free NowClosing Words
BeInOptions: Markus, thank you for this honest interview. What are your plans for 2025?
Markus: I'm sticking with my proven strategy. My goal is to consistently earn 1.5-2% per month. That would be 18-24% annually – more than enough. I'll continue learning, refining my system, and maybe invest a small portion in new strategies like calendar spreads. But slowly and disciplined – the most important lesson of the first year.
Risk Warning: This interview is for educational purposes only and does not constitute investment advice. Markus' experiences are individual and do not guarantee future results. Options trading carries significant risks and is not suitable for all investors.