As I’ve often mentioned my formula is that I sell a fall for $5 a day above where it’s at. Don’t has to go up $5 a day. Every single day on average for what 5-10-15 days. Really hard to do and most stocks won’t give you any premium to do so. But this is so volatile it will. Additionally I am not greedy. Usually. And I’ll take 50 cents A quarter at a time. Happy birthday I just sell 200 calls and collect $5,000.
For some reason lately I have sold the calls further out. It’s easier when the stick is already at an all time high. You basically tell it “congrats on your historic run. Now go top yourself and go up another 25% in the next month”. And if the stock doesn’t you win $
So for now. I sold 300 calls. Unusual because the price was so good. At just under $6 each. For it to his $435. I think at the time the stock was at $345. I had 18 days maybe. Business days. So $90 was 18 x 5. Perfect. Then the stock went down and that’s great after I sell. Meant it will be even harder for it because as it has bad days and loses time then soon it has to be $6 a day. Then $7. Etc.
I think I have some expiring this Friday at $455 and with 4 days left that’s like $30 a day to get there. Good. Not gonna happen. I pocket the $$. And we move on to next week. I think the next 3 weeks. 10/24 10/31 and 11/7 are all $435
If I can win on 11/7 and pocket $170k the 4 weeks of October plus 11/7 would net me a massive sum. Like $300k. In a month Nuts. Just files my 2024 return. Paid $1.2 million in taxes between the state and feds. Is that bananas or what? I really should have taken grocery sticks advice. You know, when you’re poor you don’t have to pay all these taxes.
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