I left my corporate career at age 43 | Now I sell options for a living | Posts are not financial advice | Link below to my trade alerts and trade summaries 👇
Monthly income chart from selling options over the last 15 months.
15 months ago I was made redundant (after a 17-year corporate career) and I decided to make a living with selling options.
Average income $9,125/month. I'm typically $350k - $400k invested.
As always, this includes:
- trades that I closed out, expired worthless or got assigned
- trades that I rolled out/up/down
- trades that are still open (I mostly sell monthly options)
- dividends from stocks that were assigned to me from cash-secured puts and I now sell covered calls against, or from stocks that I bought outright for selling covered calls
#Options #Optionselling #OptionsTrading
Weekly Options Income from selling cash-secured puts and covered calls (Nov 27 - Dec 1, 2023):
👉$994
I closed out a lot of trades this week to lock in profits!
Tickers I traded this week: $TSLA $MARA $RIOT $TNA $TQQQ $PLTR $SOXL $MPW
#Optionselling#OptionsTrading#options
My favorite tickers over the last two weeks for selling cash-secured puts. These consistently offered a monthly return of 2%+ with a delta of <0.2
👉 $TSLA $TQQQ $TNA $SOXL $RIOT $MARA $PLTR
#Optionselling#OptionsTrading#Options
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When selling options, I also include technical analysis to help pick the strike price:
👉Stock price support levels (cash-secured puts) and resistance levels (covered calls)
👉50-day and 200-day moving averages as support/resistance lines
👉Trading channels for support (base of channel) and resistance (top of channel)
👉Trading volume to see if selling/buying pressures increase/decrease
👉RSI for overbought/oversold levels
👉I recently added MACD to my charts to lock for any bullish/bearish signals, still getting familiar with it
It’s by no means perfect, and support/resistance levels hold until they don’t, but I think applying it consistently gives you an edge over time.
What would you add to this list?
#Optionselling #OptionsTrading #options #trading #investing #retireearly #financialfreedom #financialindependence #finx #stocks #StockMarket
My current criteria to initiate new cash-secured puts:
👉Delta <= 0.2
👉No earnings release before expiration date
👉Monthly return of ~2% (if it expires worthless)
👉Strike price supported by chart/technical analysis
👉Strike price sits close to the bottom of the expected price move range
👉Stocks/ETFs that I believe in long-term and that I wouldn't mind owning, if assigned
👉I typically trade monthly options but it may vary based on risk/return, earnings dates, volatility
#OptionsTrading #Optionselling #options #FinancialFreedom #FinancialIndependence #retireearly
I have two open $TSLA option trades in my portfolio. A covered call at a strike of $260 and a cash-secured put at $215.
👉I received $600 for selling these two options.
Currently, $TSLA is trading right in the middle and both options are still on track to expire worthless in December.
#optiontrading #Optionselling #options
I came across this quote by Jesse Livermore this morning (a legendary stock trader).
Although he was a day trader, I found it quite applicable to my options trading philosophy as well, e.g., I typically don't trade in anticipation of major data releases such as earnings, FED rates, macro economic data, etc.
Instead of guessing, I rather wait for the data releases and market reactions, then set up trades accordingly.
#Optionselling #OptionsTrading #options #trading #stockmarket
I sold to open new $RIOT cash-secured puts and pocketed a premium of $260:
👉STO 10 $RIOT 12/15 $9 puts
👉Delta: -0.16
👉If it expires worthless, a 3% return in 24 days, or a 3.7% monthly return
#OptionsTrading#Optionselling#options#finx#FinTwitt
I sold to open new $PLTR cash-secured puts and pocketed a premium of $360:
👉STO 10 $PLTR 12/15 $18 puts
👉Delta: -0.20
👉If it expires worthless, a 2% return in 24 days (2.6% monthly return)
#OptionsTrading#Optionselling#options#finx#FinTwitt
I sold to open new $TNA cash-secured puts and pocketed a premium of $430:
👉STO 10 $TNA 12/15 $24.5 puts
👉Delta: -0.17
👉1.8% return or 2.2% monthly return if it expires worthless
#OptionsTrading#Optionselling#options#russell2000#SmallCaps
Last week I was traveling and I traded lightly.
Weekly Options Income from cash-secured puts (CSP) and covered calls (CC) (Nov 13 - Nov 17):
👉$966
Tickers I traded last week: $TSLA $MARA $RIOT $TNA $TQQQ
Have a great week!
#Optionselling#OptionsTrading#options