CHARLES A. NICHOLS
CERTIFIED PUBLIC ACCOUNTANT
PROFESSIONAL ASSOCIATION
Independent Accountant’s Report
On Applying Agreed-Upon Procedures
Concerning TD Ameritrade Brokerage Statements
Of David J. DiNatale CEO, WallStreetU.com
To David J. DiNatale CEO, WallStreetU.com
I have performed the procedures enumerated below on the accompanying Schedule of Investment Performance Statistics (the “Schedule”) derived from David J. DiNatale’s TD Ameritrade brokerage account (small account) for the months of April, May and July 2022, (the “Brokerage Statements”). David J. DiNatale is responsible for the subject matter of the Schedule that I reviewed.
David J. DiNatale is the sole trader and owner of the TD Ameritrade Brokerage Statements. The procedures I performed may not address all the items of interest to a user of this report and may not meet the needs of all users of this report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purpose.
The procedures and the associated findings are as follows:
Procedures
The following procedures were applied to the Schedule.
- I agreed the opening balances for April, May and July 2022 included on the Schedule to the TD Ameritrade Brokerage
- For April, May and July 2022, I recalculated the following on the Schedule based on information on the Brokerage Statements:
- The total number of round trip trades, the round trip trades resulting in a profit and the round trip trades resulting in a loss.
- The total amount of the net profit and the amount of the net profit withdrawn.
- The monthly percentage return based on the net profit for the month as a percentage of the beginning balance for the month.
- The monthly number of profitable round trip trades as a percentage of the number of total round trip trades.
- I verified the S&P 500 performance percentages for the months of April, May and July 2022 were in agreement with information from Statmuse.com
Findings
I found no exceptions when performing the procedures referred to above.
I was engaged by David J. DiNatale to perform this agreed-upon procedures engagement and conducted my engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants. I was not engaged to and did not conduct an examination or review engagement, the objective of which would be the expression of an opinion or conclusion, respectively on the Schedule of Investment Performance Statistics for months of April, May and July of 2022. Accordingly, I do not express such an opinion or conclusion. Had I performed additional procedures, other matters might have come to my attention that would have been reported to you.
I am required to be independent of David J. DiNatale and to meet my other ethical responsibilities, is accordance with the relevant ethical requirements related to my agreed-upon procedures engagement.
April 2022
| Performance Metric | Result |
|---|---|
| Beginning balance | $30,051.31 |
| Total round-trip trades made | 29 trades |
| Total profitable trades | 28 trades |
| Total trades at a loss | 1 trade ($210.00) |
| Winning percentage | 96.6% |
| Total income withdrawn | $7,500.00 |
| Increase to account as of April 30, 2022 | $3,721.94 |
| Total return | $11,221.94 |
| Total percentage return | 37.34% |
May 2022
| Performance Metric | Result |
|---|---|
| Beginning balance as of May 1, 2022 | $33,773.25 |
| Total round-trip trades made | 28 trades |
| Total profitable trades | 27 trades |
| Total trades at a loss | 1 trade ($510.00) |
| Winning percentage | 96.4% |
| Total income withdrawn | $14,400.00 |
| Increase to account as of May 31, 2022 | $7,528.88 |
| Total return | $21,928.88 |
| Total percentage return | 65.22% |
July 2022
| Performance Metric | Result |
|---|---|
| Beginning balance as of July 1, 2022 | $50,232.13 |
| Total round-trip trades made | 40 trades |
| Total profitable trades | 40 trades |
| Total trades at a loss | 0 trades |
| Winning percentage | 100% |
| Total income withdrawn | $20,000.00 |
| Increase to account as of July 31, 2022 | $20,816.45 |
| Total return | $40,816.45 |
| Total percentage return | 81.25% |
In summary, during the three months examined, 97 round trip trades were conducted and reviewed on SPX with only two losses for a winning % of 97.938%. Total earnings withdrawn from the account during the three months was a total of $41,900. In addition, during these same three months the account balance grew $32,067.27 for a total return during the three month period of $73,967.27.
David DiNatale’s trading strategy for these three months were vertical option spreads exclusively sold on the SPX (S&P 500 index). (David has named this trading strategy “The Golden Goose Breakout”)
The S&P 500 performed according to Statmuse.com in these three months as follows:
- April 2022 – S&P 500 was down 8.99%
- May 2022 – S&P 500 was mostly fat at 0.04%
- June (David J. DiNatale was on vacation in June 3 so statement was not reviewed)
- July 2022 – S&P 500 was up +9.24%