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
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 8:14 am
by 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 …
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 8:26 am
by Razz R
JINSAKAI wrote: ↑Fri Feb 21, 2025 8:14 am
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..?
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 8:33 am
by Returning_Indian
From what I understand, only people making money from call/put is broker. Rest are all just losing money.
JINSAKAI wrote: ↑Fri Feb 21, 2025 8:14 am
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
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 8:42 am
by 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.
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 9:41 am
by Razz R
so $4.2 premium on a covered call and you sold 1000 covered calls ?
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 10:07 am
by JINSAKAI
Razz R wrote: ↑Fri Feb 21, 2025 9:41 am
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)
Re: Wheel Of Fortune
Posted: Fri Feb 21, 2025 5:03 pm
by 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
Re: Wheel Of Fortune
Posted: Sat Feb 22, 2025 11:09 am
by JINSAKAI
One more metric I usually look for is so called "Probability Of Profit" ( as the name indicates it's just probability and is not guaranteed ), looking for it to be around 80% ...
, for curious souls here is starter video on so called Wheel Strategy 
) . 
) , I do have more than 900 Shares 
