Greg Proctor

⚖️Patent attorney 💰 Options Trader 🎤Host of Behind The Trade Podcast

[Greg Proctor @GregProctor]

@AbuZainab_MD Glad you found it helpful MD!

[Greg Proctor @GregProctor]

My $TSLA Covered Calls saga continues. As many of you know, almost a month ago I decided to experiment with a 0DTE covered call trade on all 2800 of my $TSLA shares.

I wouldn't recommend 0DTEs as a CC strategy. Stick to longer expirations. However, it has turned into a worthwhile example of how to manage covered calls when the stock moves against you. Naked calls are the most risky of options plays, while covered calls are the safest. Why? Because when you own the shares (making the calls covered), you can't lose money. Worst case scenario you are capping your upside.

By managing the covered calls by rolling them out in time and strike price, you can avoid getting your shares called away and collect more premium while you do so.

On that first 0DTE CC, I collected $4,480 in premium ($1.6*2800). Through a series of rolls, each time collecting more premium, I've amassed $11,508 in premium. So, if I made no other rolls, my worst case scenario today is that my shares get called away at $495 on August 21 and I keep my $11,508 in premium.

Now compare that result to if I had not managed these covered calls. My shares would have been called away on May 6 at $392.5 strike price and I would have kept the $4,480 in premium.

Which result is preferable? Managing of course. If I had not managed, at today's prices I would have missed out on $43.5 in share appreciation ($437.5-$392.5*2800 = $121,800 in appreciation).

There's three patterns to these rolls that you'll see in the chart below.

Pattern 1: My $TSLA CCs start to get challenged and I need to be defensive. I buy time and distance away from the stock price and collect a credit.

Pattern 2: $TSLA pulls back in share price. So I roll down and pull forward the expiration date. Why? Theta Decay is stronger with a closer expiration and I want these CCs to decay to nothing as soon as possible, giving me a profitable exit.

Patten 3: $TSLA rallies back. When this happens, my strike price starts to get tested again and I need to roll out defensively again.

The key point to remember here is that you must roll for a credit. As long as you keep rolling for a credit, you will continue to accumulate profit and eventually the market and Theta decay will give you an opportunity to exit your covered calls profitably.

[Greg Proctor @GregProctor]

@PCPMarine @RentYourStocks @grok Sorry about that.

[Greg Proctor @GregProctor]

@KeethBrown It's a good idea if you're behind 50-ish DTE to take advantage of stronger time decay.

[Greg Proctor @GregProctor]

@EasttoFive @Sipping_Anjeo ahh makes sense

[Greg Proctor @GregProctor]

@bestjkymn This would not be part of a 0DTE course. I don't teach a 0DTE course. I only teach 0DTE in 1 on 1 coaching because 0DTEs move a lot faster and I don't think newer traders should be trying 0DTEs. You can suffer large losses if you don't have enough experience.

[Greg Proctor @GregProctor]

@EasttoFive @Sipping_Anjeo It was the right move if the stock runs up quickly in the next new months. Why did you roll all the way out to 11/26? Why not roll to July or August $500 strike?

[Greg Proctor @GregProctor]

@Sipping_Anjeo Any time.

[Greg Proctor @GregProctor]

You're at an .87 delta right now, so if the stock rallies, you're only making .13 for every dollar appreciation. Keeping the stock and the CCs is not very capital efficient because the stock is requiring a lot of buying power but the CCs are limiting your upside to .13/dollar appreciation. If you are profitable on the stock, it might be wise to close the CCs for a loss, or sell the stock and close the CCs.

[Greg Proctor @GregProctor]

@Sipping_Anjeo So you're deep in the money but the contracts haven't expired yet? What's the expiration date?

[Greg Proctor @GregProctor]

@Dirgecaller @RentYourStocks @grok Fair, my bad.

[Greg Proctor @GregProctor]

@BoBbyPleWniaK @kivancsihazafi See you guys tonight

[Kiváncsi Hazafi @kivancsihazafi]

I recently had the opportunity to attend @GregProctor Options Trading Masterclass, and I can honestly say it was one of the best training experiences I’ve had.
I originally signed up for the May 2nd session but couldn’t attend live. Greg kindly sent me the recording, which I studied thoroughly and turned into detailed notes. Later, he generously invited me to join the live Masterclass on May 30th — and I’m extremely glad I did.

The training was intense and incredibly valuable: a full 9 hours of focused learning with short hourly breaks, followed by an extended Q&A session that pushed it to nearly 9 hours total. It was great to reinforce the concepts from the recording while also diving into new topics I hadn’t covered before. The energy of the group was fantastic.

Despite the inherent complexity of options trading, Greg taught everything in a very hands-on, practical way. His ability to simplify difficult concepts while maintaining their depth is truly genius. He is an outstanding instructor — incredibly patient, thorough, and gifted at explaining complex strategies in a clear, actionable, and easy-to-understand manner. He doesn’t just answer questions; he goes deep, providing insights most people wouldn’t expect.

I’m now really looking forward to joining the weekly Diner Club every Monday, where members can exchange experiences, share ideas, and continue learning together in a supportive community.

If you’re serious about options trading — whether you’re a beginner or more experienced — I highly recommend Greg Proctor’s Masterclass and the Diner Club. The knowledge, practical strategies, and community support you’ll receive are truly exceptional.

Big thanks to @GregProctor for his passion and dedication!

[Greg Proctor @GregProctor]

@kivancsihazafi Thank you for the kind words!

[Greg Proctor @GregProctor]

If you have signed up for tomorrow's Options Portfolio Masterclass but have not received an email from me, please let me know ASAP. Check your spam folders. The email should come from [email protected].

I can't wait to see everyone tomorrow!

Last minute signups are welcome: https://t.co/B5Vg91vl9f

[Greg Proctor @GregProctor]

🚨 Today is your last chance to sign up. The Masterclass is tomorrow via Zoom. Can't wait to teach everyone this skillset which will benefit them for the rest of their lives. https://t.co/wsHawgnDFs

[Greg Proctor @GregProctor]

In $2025 I made about $270,000 selling options. It's the highest value skill I've ever learned outside of my law career. Learn it well and it will reward you for the rest of your life. It's not day trading, it's not speculating or gambling. You are the market maker, you are the casino not the gambler, you are the insurance company, not the insured.

There's no magic to selling options. There's no one with a unique ability to find advantages or arbitrage in the market. All you have to do is take the time to learn it, have a decent size account to trade with, and you will be successful.

I'll teach you this weekend how to do it: https://t.co/B5Vg91vl9f

[Greg Proctor @GregProctor]

@BoBbyPleWniaK Imagine if you had a short naked call on $DELL. Sheesh

[Greg Proctor @GregProctor]

@TheFreedomArch Thanks

[Greg Proctor @GregProctor]

In $2025 I made about $270,000 selling options. It's the highest value skill I've ever learned outside of my law career. Learn it well and it will reward you for the rest of your life. It's not day trading, it's not speculating or gambling. You are the market maker, you are the casino not the gambler, you are the insurance company, not the insured.

There's no magic to selling options. There's no one with a unique ability to find advantages or arbitrage in the market. All you have to do is take the time to learn it, have a decent size account to trade with, and you will be successful.

I'll teach you this weekend how to do it: https://t.co/B5Vg91vl9f

[Greg Proctor @GregProctor]

@Rwatkin21007326 @BoBbyPleWniaK Thanks for looking out. I do know Bobby and he’s trustworthy