ROD. I have made so much money off TSLL the past 6/8 months, its just crazy. I run about 100 contracts per week. Different strikes. Some calls ..some puts..
I ended up buying 100 tsll at $9.53, sold the march 15th $9.73 call for $.51, then i sold a put credit spread for April 19th $8/$6 received $.37 off of $200 laid out.
I am trying some wheel strategy myself in 2024. Quick question for you. If you have 100 shares that was called away from selling calls, it means the stock made some significant up move. Would you turn around and sell puts right away on the same stock? I feel like stocks that went up a lot can come down pretty quickly or at least some people will take profit which can make the stock to go down. What are your thoughts on that? Or anyone?
@onDividends Thanks! Another question. What about after you get assigned, the stock keeps going down. What are your thoughts on selling calls below your cost basis or your strategy overall to get out with profit?
I’m not going to do that. My plan if my assigned stock goes down in price is I won’t sell calls on those 100 shares “for now” but I will sell puts for a lower price which will lower my cost basis should I get assigned. Then either those will get assigned and my cost basis will be lower or the stock would have gone up for me to sell calls on now.
Cool. I have been working a plan for the last two weeks, and now I know it is called the wheel. Not trying to reinvent anything, just trying to understand the mechanics of the tools. Language is odd, but options were invented in 1872, having shares put to you, and having them called away... Different world back then. Options are a great tool to go fishing for your best price to enter and exit. You get paid proceeds or I see it as a finders fee for setting up the deal. If you can read charts a person can do well. And then it is all backwards, mixed with the crazy old world language... Be careful, and do not make mistakes. I think the bank makes 20% or more off mistakes. Do not be hasty, you have time to make a plan, and work it. Really understand trading before you jump in.
Really wide bid/ask spread can make the strategy inefficient. Could probably cash secure strangle this symbol for a couple thousand bucks. 2 puts sold for every 1 call sold.
When averaging in on COIN and TSLA, might want to trade a fixed dollar amount, instead of a fixed share amount. Then, you will be DCAing (for real) , since you will be purchasing more shares on lower prices and less shares at higher prices ( Not financial advice).
TSLL, had you started in January sell CSP, you be stuck bag holding with no CC premiums. these type of stocks is NOT worth the time.. save the money so you can get better stocks to wheel. too much work, why not just do 1 position with a better stock? i open 5 contracts on CONY for march 15 and got around $500 premium.. ill be happy to buy at $20
![BLACK BAG - Official Trailer [HD] - Only in Theaters March 14](http://i.ytimg.com/vi/Du0Xp8WX_7I/mqdefault.jpg)
![[Talk ETFs] Why TSLL Became the First Billion-Dollar Single-Stock ETF](/img/1.gif)
ROD. I have made so much money off TSLL the past 6/8 months, its just crazy. I run about 100 contracts per week. Different strikes. Some calls ..some puts..
100 contracts? Wow
That’s almost livable income there
Good stuff ROD ,
Thank you for this video. It is really helping me to understand options.
Youre swing trading i like it. Im doing the same thing w the miners, mara,clsk,riot, and cony.
Mara is my favorite! Such amazing premiums
I ended up buying 100 tsll at $9.53, sold the march 15th $9.73 call for $.51, then i sold a put credit spread for April 19th $8/$6 received $.37 off of $200 laid out.
I am trying some wheel strategy myself in 2024. Quick question for you. If you have 100 shares that was called away from selling calls, it means the stock made some significant up move. Would you turn around and sell puts right away on the same stock? I feel like stocks that went up a lot can come down pretty quickly or at least some people will take profit which can make the stock to go down. What are your thoughts on that? Or anyone?
Right away? Maybe not
I’d wait for a red day and then start selling puts again
@onDividends Thanks! Another question. What about after you get assigned, the stock keeps going down. What are your thoughts on selling calls below your cost basis or your strategy overall to get out with profit?
I’m not going to do that. My plan if my assigned stock goes down in price is I won’t sell calls on those 100 shares “for now” but I will sell puts for a lower price which will lower my cost basis should I get assigned. Then either those will get assigned and my cost basis will be lower or the stock would have gone up for me to sell calls on now.
@@TideShotcan also just sell calls at a longer date that would put you in green if it were to bounce back anyway. Still passive
What broker are you using? What are the fees per option?
Schwab
.65
Weekly updates would be great
Cool. I have been working a plan for the last two weeks, and now I know it is called the wheel. Not trying to reinvent anything, just trying to understand the mechanics of the tools. Language is odd, but options were invented in 1872, having shares put to you, and having them called away... Different world back then. Options are a great tool to go fishing for your best price to enter and exit. You get paid proceeds or I see it as a finders fee for setting up the deal. If you can read charts a person can do well. And then it is all backwards, mixed with the crazy old world language... Be careful, and do not make mistakes. I think the bank makes 20% or more off mistakes. Do not be hasty, you have time to make a plan, and work it. Really understand trading before you jump in.
Really wide bid/ask spread can make the strategy inefficient. Could probably cash secure strangle this symbol for a couple thousand bucks. 2 puts sold for every 1 call sold.
Any Canadian investors doing this strategy? I am hesitant about doing this in a TFSA...
You can sell call & sell put on the same contract to get more premium. It’s a great way to play options. 😂
Do you do do that?
Yes. If it landed in between you’ll get both. 😊
That’s a “strangle” basically
It’s straddle can’t remember right off the bat
You need to own the shares though and be willing to pay for more shares. It’s a good idea if the price is right
I'm very interested in watching the options and swing trading
Sold TSLY for TSLL. Time to get back to $12+
When averaging in on COIN and TSLA, might want to trade a fixed dollar amount, instead of a fixed share amount. Then, you will be DCAing (for real) , since you will be purchasing more shares on lower prices and less shares at higher prices ( Not financial advice).
Good
TSLL, had you started in January sell CSP, you be stuck bag holding with no CC premiums. these type of stocks is NOT worth the time.. save the money so you can get better stocks to wheel. too much work, why not just do 1 position with a better stock? i open 5 contracts on CONY for march 15 and got around $500 premium.. ill be happy to buy at $20
im already thinking about getting 5 more contracts at 19 for april .. maybe $600 premiums. thats $300 per month.. i like cony for bitcoin exposure.
seems like now you re bagholder on CONY
Wow I can’t believe. How tight the spreads are