08-03-2020, 01:13 PM
(08-03-2020, 12:45 PM)vbin Wrote: I wonder how much weekly options u get? Last time I checked T and Mo had $10 for weekly options.Sorry I wasn't clear. Weekly options only work for volatile stuff. I do make $300 or $500 for a weekly option sell in something like QQQ or ROKU with a strike considerably out of the money. There are no free rides as you know. The NAS could drop 10% in a week and I own 100s of shares, albeit at a decent price.
Reqarding the boring stuff game. I am NOT selling 7 day options in T-KO etc. I could, but you have to commit to WAY too many shares to make it worth it. Every week or two when the boring stuff has a down day or two I am selling options that expire 2-5 weeks out. 95% of them expire worthless in a choppy or up market. Spread out the dates and boring options expiring worthless every week and I rinse and repeat it 2-5 weeks forward. I should be well past 500 hundred contracts this year. I spread them out because I have no idea where the market goes from one week to the next.
Reality is never less than 1% a month return or I don't play. I target 1 1/2 to 2 1/2% per contact for a months waiting. Add in the dividends if I can pick the expiration dates right. Few home runs because i am trying to hit singles and I consistently do. A $50 to $100 win may not interest most here but 500 times $100 works well enough for me with low risk if you stay disciplined.