📝 JOIN MY EMAIL NEWSLETTER FOR RTFF PORTFOLIO UPDATES moremoneylessproblems.ck.page 📈 SPREADSHEETS, TRADING NOTIFICATIONS, AND MORE VIA PATREON www.patreon.com/moremoneylessproblems 📈 GET UP TO 6 FREE STOCKS BY SIGNING UP FOR WEBULL USING MY REFERRAL LINK a.webull.com/i/MoreMoneyLessProblems (Stocks valued between $35 and $12,600. Promotion ends June 9, 2022)
Great stuff! Thank for doing this exercise, good to see examples of both the good and the learning curve. I'm practicing w PMCC now, very interesting way to boost ROC %.
I like your site because you actually show losers along with winners. For a portfolio the size you have, THE most important goal should be capital preservation. The best way for that to happen is to set a stop loss as soon as you open a trade. Don't ride a stock down. It may very well come back but your $$ would have been tied up while you wait. Take the loss and use the money on a better trade. If it turns back up and you still believe in it then buy it and ride it up.
A good rule to have when picking a stock to sell covered calls on/do pmcc with is avoid recent IPO stocks. They almost always have major dips from their start value. Playing covered calls on a less than 1 year IPO stock is CRAZY. Choose stocks that have a good history and almost predictable cyclic movement. If you don't have enough capital, do poor man covered calls, which are great for small accounts when done right (no need to avoid assignment when you sell calls above your initial break even -> strike price + contract cost).
Really agree with your thought process and methodology, video production is getting real nice to man. I have to move to more covered calls, so used to selling puts because the premium is usually a bit juicier but I agree with your reasoning and approach, now that the market is going a bit bi polar and more bearish these puts are going against me more often that not lol. Good stuff dude! Appreciate the insights and transparency.
i have a question. what if the stock goes down and i make money with premium and i decided to sell again but this time is goes up but doesnt reach to the point where my share makes profit yet but i am guessing my option looses money. does this ends with negative ? like increases my cost basis
Hi Charlie, Thanks for your videos. Your approach to trading is quite good for someone who is starting since it is simple, and you play safe (dow jones stocks, uptrending, with volatility). Many other channels try to show you the amazing trades that 5x their money in a few months, but that will not work for someone that is starting, since it is too much risk and you may end up without money in your portfolio (even worst if it is in your IRA or Roth, since you can not add more money until next year). I tried selling bull call spreads before but ended losing most of my money, and then I did not have enough to keep trading. Because of that I decided just to buy stocks and LEAP calls for the last year and things went better. Thanks to your videos now I am starting again slowly to sell short term calls on stocks that I own, just as an insurance if the stock price goes down, to have less loses (rather than buying puts). If you do it as a complement to the stocks you are going to own anyway because you like to invest on them for the long run, it seems as a strategy to reduce loses and make some money if the stock doesn't fall too much. Otherwise rebalance the portfolio to other stock that is performing better.
Heard you say in a previous video you’re switching this from Robin Hood. Is there a specific reason for that? Was interested in them because of no fees on option trades
There are a few reasons, although most are somewhat minor so they may not be important to everyone. 1. Orders tend to get filled at worse prices on Robinhood, especially for options with wide bid-ask spreads. This is the biggest reason that I want to switch because it causes me to bring in slightly lower premiums and sometimes miss out on some profits on my LEAPS trades. 2. I can’t sell naked calls on Robinhood 3. Robinhood gives me less available margin than other brokerages, although margin interest rates are very low on Robinhood so that’s one good thing. 4. Other platforms offer better customer service, although it’s pretty rare that I ever need to utilize that. With that said, Robinhood does look nice for videos and thumbnails, but I don’t think that’s a good reason to stay on the platform if I think others are better haha. Either way, most brokerages actually offer free stock and option trades these days, or at least very close to it. I use TD Ameritrade for my main portfolio and they charge no fees for stock trades, and just about $0.70 per option contract. So with the better fill prices I get on that platform, I very easily make up for the small fees.
What would be the opposite of the poor mans covered call for bearish conditions? Would I be buying long term puts and selling short term puts? Forgive the noob question
Hi Charlie, thank you for sharing your experience & results so far! I have a question about the months when your leap option went down, were you able to write CC's against it (PMCC) or was it no longer ITM? If a leap decreases unexpectedly would you roll it down & out?
Awesome content brother, let's hop on a live sometime. Would love to pick your brain a bit. Quick question, if I do covered calls on my dividend stocks, would I still be able to collect the dividends?
Are you still active on market ? I just watched this video and looked up that apple 1/19 200 calls it’s worth .96 , amazing how much premium got burned over the year
I’ve actually been meaning to try them out in this portfolio so I may give it a try soon. The reason I haven’t used spreads so far (aside from my bear call spread) is because with credit spreads, you so have potential to lose money if you’re wrong about the direction of the stock. At least with CCs and PMCCs, I’m guaranteed to keep the premium no matter what. And if the stock falls, I can just wait for it to recover. But I agree that in a small portfolio, spreads may be worth the risk.
Great content! I have got 45K in the market and I would love to use this strategy. The one hard thing I find to do is get enough shares of great companies that I want to hold in the long term. I cant buy 100 shares of things without whole accounting something. The balance of the portfolio and the stock picks are a little difficult. Especially with the market these days I just want to hold cash and wait.
it is true to allocate all your capital but trust me, selling options will fund you account with free $. I recommend $AMD NVIDIA, BLUE CHIP ETC. I usually go for 1% a week
It's easy to plan what you will do when your stocks go up. But it's extremely important to plan ahead what you will do when your stocks go down. Will you sell it? Will you ride it down and keep writing premium to lower your basis? Decide these things before you make the trade.
well right off the bat i dont understand the very begining of your vid. you start of , lesson 1 lesson 2 lesson 3 on the chart, how can lesson 3 be way back near lesson 1 and no where near lesson 2, i am already lost just with that...
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
📝 JOIN MY EMAIL NEWSLETTER FOR RTFF PORTFOLIO UPDATES
moremoneylessproblems.ck.page
📈 SPREADSHEETS, TRADING NOTIFICATIONS, AND MORE VIA PATREON
www.patreon.com/moremoneylessproblems
📈 GET UP TO 6 FREE STOCKS BY SIGNING UP FOR WEBULL USING MY REFERRAL LINK
a.webull.com/i/MoreMoneyLessProblems
(Stocks valued between $35 and $12,600. Promotion ends June 9, 2022)
I love how transparent you are! Owning your mistakes but then changing your strategy. You explain things so well!! Thank you!!
May I just say that out performing the market by 5 points, in my view, is not slight, it is OUTSTANDING. Nice work.
I like selling weekly covered calls out of the money enough to give a 20% yearly return in option premiums plus increased stock value.
Thanks for that. It's always nice to hear what others are doing without having to worry being bullshitted. Best of luck to you.
When you made this video two years ago Chargepoint was like 25 dollars a share. Now it's 1.65 a share. Lessons to be learned for anyone trading.
Great stuff! Thank for doing this exercise, good to see examples of both the good and the learning curve. I'm practicing w PMCC now, very interesting way to boost ROC %.
I like your site because you actually show losers along with winners.
For a portfolio the size you have, THE most important goal should be capital preservation. The best way for that to happen is to set a stop loss as soon as you open a trade. Don't ride a stock down. It may very well come back but your $$ would have been tied up while you wait. Take the loss and use the money on a better trade. If it turns back up and you still believe in it then buy it and ride it up.
A good rule to have when picking a stock to sell covered calls on/do pmcc with is avoid recent IPO stocks. They almost always have major dips from their start value. Playing covered calls on a less than 1 year IPO stock is CRAZY. Choose stocks that have a good history and almost predictable cyclic movement. If you don't have enough capital, do poor man covered calls, which are great for small accounts when done right (no need to avoid assignment when you sell calls above your initial break even -> strike price + contract cost).
Nice editing skills!
Thanks! I’ve been trying to step it up lately
Really agree with your thought process and methodology, video production is getting real nice to man. I have to move to more covered calls, so used to selling puts because the premium is usually a bit juicier but I agree with your reasoning and approach, now that the market is going a bit bi polar and more bearish these puts are going against me more often that not lol. Good stuff dude! Appreciate the insights and transparency.
How do u deal with assigned calls
i have a question. what if the stock goes down and i make money with premium and i decided to sell again but this time is goes up but doesnt reach to the point where my share makes profit yet but i am guessing my option looses money. does this ends with negative ? like increases my cost basis
Hi Charlie, Thanks for your videos. Your approach to trading is quite good for someone who is starting since it is simple, and you play safe (dow jones stocks, uptrending, with volatility).
Many other channels try to show you the amazing trades that 5x their money in a few months, but that will not work for someone that is starting, since it is too much risk and you may end up without money in your portfolio (even worst if it is in your IRA or Roth, since you can not add more money until next year). I tried selling bull call spreads before but ended losing most of my money, and then I did not have enough to keep trading. Because of that I decided just to buy stocks and LEAP calls for the last year and things went better.
Thanks to your videos now I am starting again slowly to sell short term calls on stocks that I own, just as an insurance if the stock price goes down, to have less loses (rather than buying puts). If you do it as a complement to the stocks you are going to own anyway because you like to invest on them for the long run, it seems as a strategy to reduce loses and make some money if the stock doesn't fall too much. Otherwise rebalance the portfolio to other stock that is performing better.
Great Video!
Heard you say in a previous video you’re switching this from Robin Hood. Is there a specific reason for that? Was interested in them because of no fees on option trades
There are a few reasons, although most are somewhat minor so they may not be important to everyone.
1. Orders tend to get filled at worse prices on Robinhood, especially for options with wide bid-ask spreads. This is the biggest reason that I want to switch because it causes me to bring in slightly lower premiums and sometimes miss out on some profits on my LEAPS trades.
2. I can’t sell naked calls on Robinhood
3. Robinhood gives me less available margin than other brokerages, although margin interest rates are very low on Robinhood so that’s one good thing.
4. Other platforms offer better customer service, although it’s pretty rare that I ever need to utilize that.
With that said, Robinhood does look nice for videos and thumbnails, but I don’t think that’s a good reason to stay on the platform if I think others are better haha. Either way, most brokerages actually offer free stock and option trades these days, or at least very close to it. I use TD Ameritrade for my main portfolio and they charge no fees for stock trades, and just about $0.70 per option contract. So with the better fill prices I get on that platform, I very easily make up for the small fees.
@@MoreMoneyLessProblems thanks!
You ended up switching around to oter call scenarios, hard to keep up with, looking for videos on covered calls only
I've learned nothing in this video.
Thank you for saving my time😅
Well, I guess you are slow on the uptake.
@@mmabagain Nope, just a useless fluff-filled video to milk adsense money.
😂😂
do you buy a put to get your 100 shares to start trading?
What do you think about buying 100 shares and selling covered calls on ETFs like QQQ or DIA?
I like selling puts and calls on SOXL, TNA, & TQQQ since they always have decent premiums.
Is the covered call in US pays better premiums then Canadaa from what you noticed?
What would be the opposite of the poor mans covered call for bearish conditions?
Would I be buying long term puts and selling short term puts?
Forgive the noob question
انت مثلي الأعلى في العزوبية استمر يا صديقي
What are good stocks or etf that will pay good premium for covered call?
Hi Charlie, thank you for sharing your experience & results so far! I have a question about the months when your leap option went down, were you able to write CC's against it (PMCC) or was it no longer ITM? If a leap decreases unexpectedly would you roll it down & out?
Check out Energy Transfer (ET). A blue chip like stock trading around $11 per share.
Where is the portfolio sitting today? We want to know especially after the disastrous stock market of 2022.
Do a year of selling puts next!
king
But would this work in an extended bear market?
Keep in mind one of the best up years was 1933. In the middle of the depression. Nobody can predict an extended bear market while they are living it.
When do you get premium? when the option expires?
Immediately
I think betting against you would be a very solid strategy
Im now up to 4k in premiums and 3k in dividends per month. Once thats hits 30k per month Ill be pulling the plug on the w2 gig.
Which stocka do u have and much invested if u dont mind me asking?
Awesome content brother, let's hop on a live sometime. Would love to pick your brain a bit. Quick question, if I do covered calls on my dividend stocks, would I still be able to collect the dividends?
Yes you can collect the dividend
0:12 Herman Miller Aeron
keep it up
Are you still active on market ? I just watched this video and looked up that apple 1/19 200 calls it’s worth .96 , amazing how much premium got burned over the year
2 years sheesh lol
How about credit spreads?
Besides to pmcc & cc
Just wondering...
I’ve actually been meaning to try them out in this portfolio so I may give it a try soon. The reason I haven’t used spreads so far (aside from my bear call spread) is because with credit spreads, you so have potential to lose money if you’re wrong about the direction of the stock. At least with CCs and PMCCs, I’m guaranteed to keep the premium no matter what. And if the stock falls, I can just wait for it to recover. But I agree that in a small portfolio, spreads may be worth the risk.
Any gains are subject to tax
CHPT didn’t age well. I do like the company though. It’s trading for a third of the price in this vid though
CHPT $1.43 as of 2024 July 2nd, LMAO
Great content! I have got 45K in the market and I would love to use this strategy. The one hard thing I find to do is get enough shares of great companies that I want to hold in the long term. I cant buy 100 shares of things without whole accounting something. The balance of the portfolio and the stock picks are a little difficult. Especially with the market these days I just want to hold cash and wait.
it is true to allocate all your capital but trust me, selling options will fund you account with free $. I recommend $AMD NVIDIA, BLUE CHIP ETC. I usually go for 1% a week
It's easy to plan what you will do when your stocks go up. But it's extremely important to plan ahead what you will do when your stocks go down. Will you sell it? Will you ride it down and keep writing premium to lower your basis? Decide these things before you make the trade.
It’s fewer problems, not no problems.
Nike is in the $hitter now
Not much left of NIKE!
Did not age well. Chargepoint? Really, man?
well right off the bat i dont understand the very begining of your vid. you start of , lesson 1 lesson 2 lesson 3 on the chart, how can lesson 3 be way back near lesson 1 and no where near lesson 2, i am already lost just with that...
Whoa it’s the pizza guy
hopefully you got out of most of your underlying stocks (as of this date)
It's $1.29 today, damn.
Background music is loud and annoying. Peace would be heaven. Can't focus !, distracting...
Very soon you gonna be a fund manager
Lmao
Less vs Fewer, it’s not difficult…
blew up account
arcimoto 0,12 right now, nice company he said hahahahahhaah
Groot
Go woke go broke
I loved bear call spreads...until Trump made the market crash UP...almost killed me.
Based on the date if this video im suspecting this account vlew up
Great video!!
انت مثلي الأعلى في العزوبية استمر يا صديقي