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Hello Marie! Thanks for stopping by. Were you referring to the page where it has the dividend information for the REITs, ETFs and individual stocks? That would be on Nasdaq.com. I also use Finviz.com quite often to pull up data for stocks and other information. Let me know if you have any other questions and if that answered it for you!

Thanks for pointing that out! Yes I saw that and was like that can't be right but got excited lol

Should be working now! I believe RUclips automatically turns them on after the video processes.

Sorry for the late response. My favorite is either weekly or monthly options. SLV is in fact great for options!

Right now since my Roth IRA is under $50,000 and that's the account I'm approved for options in, I don't make all that much. But if you've seen some of my previous videos it can give you an idea of what is possible. SLV wheel strategy options have been one of my favorites lately

So it depends ultimately on what kind of account you do it in and whether or not you are withdrawing the funds. For example, in a Roth IRA reinvested, your tax rate would be zero. If withdrawn before 59.5 years old, you could pay a 10% penalty and the rest of the distribution would likely be taxed at regular income. In a taxable brokerage account, you would likely be taxed at your regular income tax rate.

Very nice!!

Great idea thanks!

Let me know if you have any questions brother! You got this!!

So I believe I sold my first covered call/cash secured put/wheel strategy in 2020 shortly after COVID on this ETF. I've done both real trading of these ETFs and paper trading. For those just starting out we can definitely focus on paper trading as a potential strategy to gain experience/exposure and hopefully 'learn the ropes' of this strategy and the ability of this strategy to earn regular income. Interesting you mention TSLL and the wheel strategy, as I typically am not a fan of doing this against leveraged ETFs. However, it's down 19% in the last year which is not horrible for it being leveraged. And if you play it right, the options premiums can be substantial due to the substantially increased implied volatility. Anyway let me know if you have any more questions and thanks for stopping by the channel!

That's a fair point. In this case, on capital of roughly $58,000, one can potentially earn $1,000 per month or $12,000 annually if this is done every month. That comes up to roughly a 20.69% return ($12,000 / $58,000). On the SPY I recently made a video of potentially earning more than $100 per day with near dated options, perhaps doing this 3-5 times per week. That might come up to $300 to $500 per week potentially or $15,600 to $26,000 per year. Thus, one might say that much less capital is required to earn such premiums, and therefore SPY is the better choice. This is assuming every week this strategy is done, and that nothing goes wrong in terms of volatility. In terms of a once a month "set it and forget it strategy", IVV could be a good choice. But it may be worth considering the total premiums between SPY and IVV say on a monthly basis and determine which one is yielding more. I'm guessing SPY would come out ahead but nonetheless, the idea with these videos is to kind of give people different ideas and strategies for implementing this strategy via individual stocks, ETFs, etc. Thanks for stopping by!

​@@cashflowinvestor23Some people own IVV and not SPY so that would give them an idea about making weekly premiums, good explanation.

why not just hold it until 2050 and be rich as fuck

I would say that if you're going to implement this strategy against an ETF such as COPX, you should probably already feel comfortable with owning the ETF or stock. In other words, if you wouldn't buy the stock or ETF apart from the options, then perhaps it's not worth doing the wheel against. I personally don't use stop losses or take profits on the wheel.

Just learned about it myself! I think it's interesting for sure

That's a great question! If you sell below your cost basis, you risk getting called away. That is something to consider. Are you willing to take a loss on your stock or ETF position if it goes down substantially from where you bought, say 10% or 20%? If the call option goes in the money for example before expiration, then you may be forced to sell your shares at not so good prices. I would say this is where diversifying between multiple ETFs and/or individual stocks becomes an important consideration. That said, looking at the beta of the stocks and/or ETFs along with the delta of the options can help to determine if there will be a higher chance of the option your selling going in the money (or in the favor of the buyer of the option). Hope this helps! Let me know if you have any other questions.

Thanks for stopping by my friend!

1000 shares is a lot of money..

Absolutely and a great goal!

Thanks for stopping by Ray and welcome to the community!

You can do this with as little as 100 shares. In the video I was using a 300 share example which would allow you to sell 3 options contract, since each options contract is = to 100 shares of a stock or ETF. Thus, 100 shares at the current market price of GLD is $24,487 to invest, but if you chose say a $240 strike price, you're putting up $24,000 in total for the trade, as collateral to buy 100 shares of the ETF if you are assigned. Hope this explanation helps!

A tax preparer or software can simply scan your brokerage accounts and typically, with technology these days, it can be scanned relatively quickly and the ability to simply copy and paste the information into your tax return is very easy.

Absolutely and you could also potentially benefit from the price rise in gold and then sell say a deep in the money call option and pocket a large premium if you want to for the fun of it. This strategy can work out very favorably depending upon the specific movements of the underlying.

I typically don't like using leveraged ETFs too much, but they can be part of a portfolio. You can potentially magnify your returns due to the increased implied volatility. Personally I think the major indexes are great for this type of strategy, including alternative but liquid indexes such as GLD, SLV, etc.

Yeah midwest is not bad. I would never move to Chicago that's for sure. Around STL there's some really nice areas and then some not so good areas as you get closer to the city.

Nice!!

I actually work for Amazon as well!! Just got a job in operations recently

I understand the concern, as I just posted to another individual, it may not be as far off as you think. 5 years at the max Roth contribution could get you to at least 100 shares of SPY or close.

theres also cheaper ETFs which require less capital

I wouldn't call $50,000 massive honestly especially these days with inflation. If a Roth IRA is maxed out for 5 years for example, one could easily hit that number. Just saying we always need to be investing and building up portfolio(s) for the long-term. $100k+ is not as far off as many people think and from there things typically get easier fir many people. Thanks for stopping by!

Jut looking at premium in this, but the delta I like is .20 or 80% probability of an out of the money option, benefiting the seller.

Awesome stuff! This could be one "bucket" or a portion of ones retirement portfolio in my opinion. I've also discussed this against a portfolio of say 10-15 dividend stocks, etc.

Good point! You can definitely get caught up in volatility that doesn't work out in your favor. In some cases you may need to make the decision to cut your losses if volatility increases significantly, so it is important to keep a close eye on it

Glad you enjoyed it. Thanks for stopping by!

I apologize if that's the way it came across. The main benchmark is the S&P 500 to determine how volatile an underlying asset might be in relation to the overall market. We know that the QQQ has a beta of 1.10 (per finviz), making it more volatile than the S&P 500. However, the overall volatility is not that much greater than the S&P 500 if we are using that as a benchmark. Hope this helps clarify things!

I could have discussed that more in the video, thank you for the insight and I will try to provide more of a discussion of that in future videos. That said, in an ideal world you would perhaps have that $250,000 mixed around in various assets such as a portfolio of dividend stocks that you do this against, or various liquid dividend etfs; etc. That way even if one of those stocks goes bankrupt, it won’t be the end of your portfolio. The goal for this video was simply to use some examples and attempt to explain this for beginners and those new to the strategy. I’ve always believed that this could be an early retirement solution for many out there, and it’s one of mt favorites to discuss. Thanks for stopping by!

It wouldn't be a loss. He would be obligated to buy Rio Tinto at 47

Fidelity is my personal favorite, and I have my debit card linked to my brokerage account which is nice for those premiums and dividends: I get that commissions can be lower, but I also enjoy the customer service and being able to reach someone pretty much any time of day without waiting on hold with questions about my account. All around a positive experience

Thank you!!