Wheel Of Fortune

[JINSAKAI]

Glad to announce that executed first Option trade on SMCI collecting a nice premium by selling covered calls FEB 28’ 25 69 CALL , for curious souls here is starter video on so called Wheel Strategy

[JINSAKAI]

My basic idea is to generate income from anywhere from 1500 to 4000 every month with Weekly Options. I would try to select couple of high quality stocks which I don’t mind owning. Of course such individuals stocks would not be more than 5% portfolio. Since this is my time attempting this, I am not sure how will it play out. Happy to hear from more experienced members about any potential pitfalls ( I miss Cantor dearly now on the forum ) .
Will keep updated on how it goes …

[Razz R]

My basic idea is to generate income from anywhere from 1500 to 4000 every month with Weekly Options. I would try to select couple of high quality stocks which I don’t mind owning. Of course such individuals stocks would not be more than 5% portfolio. Since this is my time attempting this, I am not sure how will it play out. Happy to hear from more experienced members about any potential pitfalls ( I miss Cantor dearly now on the forum ) .
Will keep updated on how it goes …

Just curious ( and i probably know the answer to this one) what is the capital requirement to be generating 1500 - 4k per month..?

[Returning_Indian]

From what I understand, only people making money from call/put is broker. Rest are all just losing money.

[JINSAKAI]

My basic idea is to generate income from anywhere from 1500 to 4000 every month with Weekly Options. I would try to select couple of high quality stocks which I don’t mind owning. Of course such individuals stocks would not be more than 5% portfolio. Since this is my time attempting this, I am not sure how will it play out. Happy to hear from more experienced members about any potential pitfalls ( I miss Cantor dearly now on the forum ) .
Will keep updated on how it goes …

Just curious ( and i probably know the answer to this one) what is the capital requirement to be generating 1500 - 4k per month..?

I have invested around 47K in SMCI, and the first Covered Call got me around 4200 in premium. I hope this expires worthless and I can sell another next week

[Razz R]

That is excellent - congratulations.. 10% return on a single trade may be on the higher side.. ( i am not too conversant of options trading) but looking at my logs, i am averaging about 3.5% on individual trades.. of course i have had those 8-10% ones in the mix.. but on the whole i'm happy if i hit 3-4% on trades. let us know how your future adventures pan out.

[Razz R]

so $4.2 premium on a covered call and you sold 1000 covered calls ?

[JINSAKAI]

so $4.2 premium on a covered call and you sold 1000 covered calls ?

I sold 9 Options Contracts ( A contract = 100 underlying shares) @ 4.74 and Strike Price 69 ( just for fun ) , I do have more than 900 Shares


EDIT : Image was too large ( did not realize earlier as it was uploaded from phone)

[SAPPORO]

Bottom would soon fall out of the US stock markets. Even if the corporate tax cuts pass, it would just be the status quo or worse and won't be enough to rescue the markets.
Maybe it's time to invest in China with more stable and consistent policies!
This article does not even include today's market rout.
https://www.cnbc.com/2025/02/21/preside ... world.html