I’m happy to hear you recovered from COVID and hope you and your family suffer no long-term issues. Rest is key, though you don’t seem like a sit around kind of guy. Give yourself permission to chill. Stay healthy. We need you.
I've watched a lot of videos on options. Your style is great for beginners. Very laid back and matter of fact. No hyper ventilating fast talk. Thanks for what you do.
Dave. THANK YOU for the follow up on this. As simple as it is, this helps to create a solid mathematical foundation that will be key in analysis and in avoiding errors. Kudos! Jerónimo
Thank you so much for all the knowledge you've shared! The way you explain this material has been so helpful to me that I can't thank you enough. I personally really like how you have this document set up with separate tabs for the calculators and tracker. The simplicity of the "tracker" is perfect for me, but I am curious about a couple of fields. Specifically the "ignore roi" columns and the "prev weeks" section. Everything else makes total sense to me and I wouldn't change a thing. I'd just like to make sure I'm using the "tracker" page as it was intended because I absolutely love how you have it set up. Thanks!!
Hey Adam. Glad you are finding the spreadsheet useful! The tracker could be cleaned up more. The "ignore roi" was a field I was using to clear out some data on some odd trades so I could make some calculations. You can ignore the ignore ROI field!😀 The "previous weeks" is a field I use to total what I make each week using the B (week) column. I set a weekly goal and this is a way to see if I'm hitting my goal as I close out positions. You may have to verify that the totals are grabbing the correct rows as you build out your sheet. Any other questions, just let me know!
Thanks Dave. Your videos on options have proven very helpful. You’re the only person I’ve found who has shared the info in very understandable language.
I’d love to see a video on buying a LEAPS option … selling CC’s on them, and if you’re supposed to sell them for a profit after a certain time frame, or exercise the option and buy the 100 shares of its at a good price.
Excellent videos!!! Which one of your videos walks you through what steps you take to see if a stock is worthy before or after the spreadsheet? Hopefully it is step by step like this one.
Hi. Thanks! I don't have a specific video yet addressing stock valuation but a good idea for 2023. You can find many discounted cash flow videos available to help get you started.
Thank you very much of the clear explanation how to track the sell put/sell call scenario, but when I tried to download the spread sheets, it is only for view only , can you help to let me have the editable version ??? so that I can practise on it Thank you
Hi. You should be able to view it from the link and download it from there using the file tab. You can convert it to an excel file and move back to Google Sheets if necessary.
Thanks Dave! I made a copy as there are a few things I will add to my tracker sheet. I like the %From calc and the sum of prior weeks. As always good content clearly presented.
No. I use an expanded version of the one in this video. Plan in 2023 is to update it and make it more functional to share. I have an additional page where I track all assignments. That way I can pull together any stock gains/losses back to the original spreadsheet for something like a wheel.
Hi Dave, thanks so much for sharing the spreadsheet. Definitely a great visual tool for me. I’m still new to options and my question is: do you have to close a Call/put option that you opened, or do you let it expire worthless, if it doesn’t execute? I sold my first put! :)
Hey M D. Congrats on that first put! If you make it to expiration and the stock is above your strike on that PUT it will naturally expire. You should just see a transaction with your broker that states it expired (usually by Saturday morning). You don't have to do anything. If it expires below your strike, the shares will be assigned to you and your account will be debited for the 100 shares. Again, you don't have to close it.
I'd like to play the wheel game with spy and this calculator is exactly what I was looking for. Do you have another spreadsheet where I can post all of my trades and view all weighted gains/losses?
Hi Mike. I have a basic one that is in that same download as a starting point. I have built my version out but it is not streamlined and I hesitate to share it. I hope to make it more user friendly here in 2023. I track each trade on a row and track assignments on another tab. Works decent but want to pull it all together.
@@wealthadventures Sounds fantastic. I already started using your spreadsheet and entered the trades I've done so far in Jan. This spreadsheet is slick - thanks so much. Also, I really want to sink my teeth into selling Spy puts and want to learn which way the herd is heading. Do you have any vids that can help me learn how to predict Spy behavior?
@@mikejohnr1315 I have not made any videos yet on indicators. If you want to start doing some research I would start with simple moving averages and volume indicators and build from there.👍
Thanks Dave... Good stuff as usual. I was wondering how you determine the exact accurate intrinsic value of the deep itm covered call you write. In other words does fidelity provide you the actual price of the underlying at the time that your call was sold on an existing underlying? Thanks in advance.
Hey. Let me know if I'm not understanding but...The intrinsic value for a sold call that is ITM will be (strike price - stock price) * 100. In other words, if you exercise the contract right now, you would be able to turn around and sell the stock for the current intrinsic value. If you "sell to close" the contract you would be able to collect the intrinsic value plus the extrinsic value. I do record the price of the stock when I sell a put or call for my own reference.
@@wealthadventures thanks for the response.. Yes the above is correct but with the ITM sell to open the intrinsic nets out and the adjusted profit is just the extrinsic when you sell. The real question was around how you know what the stock (underlying) price is when you sell a call against an existing underlying. For example Think or Swim just shows the total premium you received. You need to know the intrinsic to determine the extrinsic which is the adjusted profit on the trade.
@@jeffreytartamella7403 With fidelity it pulls the current stock price at the time of the trade when you submit the order. I throw that number on my spreadsheet as a reference point. Should be pretty accurate.
Thanks Dave. Does the info populate automatically in the tracker tab? I haven't had a chance to use it yet but the spreadsheet looks like a very helpful tool. Billy
Hey Billy. It should fill out the info once you enter the base info. However, you will have to drag the formulas down in calculated fields as you add lines. Still working on it but hope to add some additional automation so that info can be ported over from the other tabs as well. Thanks for watching!
Do you use certain brokerage or reseach links such as Morning Star to pick your stocks ? If yes, can you please provide me the research companies names? Thank you.
Dr Dave. So this week is the FOMC meeting and the PMI along with MU earnings . Any 1 of these 3 events can cause the market to rollover bringing Apple with it. Wouldnt we want to use a more speculative timing approach to choose our PUT sell price?.. If we go in too early we capture much less premium then if we sell the PUT after a bad PMI reading, bad FOMC notes or a Bad Earnings call from MU. Powell is likely to give bad FOMC news as he needs the market to go down to tame inflation
Hey Dave. Lots going on this week! I'm all buckled up! Lol. I think If you purely want to trade options for income these are certainly bigger factors. If you are looking to activate money and put it to work in this market, selling OTM puts would be my approach. On exactly what stock/ETF is a good question. I'm being extremely selective at the moment. This was simply an example to illustrate the spreadsheet but if you look at my active trade on AAPL it is a 110 put with 7/15 expiration that I need to close. I'm selling a few PUTs selectively and keeping my eye on the VIX. Hard to put cash to work these days!
Hi Dave, I love your videos. They are simple and easy to turn them into actions. In fact, I did my first options trading watching your videos. Thank you. Now my request... with the market having down a lot, I have ended up putting all my cash on stocks. But, I have a huge margin buying power. So, I applied to be upgraded to level 3 in Fidelity, so I can sell naked/uncovered puts. With market being so at the bottom, either those prices will not hit, or even if they get to be put to me, I don't mind to go into margin a little. Now the ask... can you also provide a spreadsheet for cost analysis considering the cost of margin while a sell-naked-put is active unit it expires. Fidelity has a somewhat complicated margin requirements calculator for uncovered puts. It's good toanalyze this kind of trades taking into account the cost of margin. Can you augment your spreadsheet for this kind of trades and make another video to go over it? Thanks again! Glad to hear you recovered COVID!
Hi. Thanks for watching! I can look to add something that would allow you to input info for margin information. Good luck and be careful with those naked puts!
Dear coach , this a fantastic tool .... I am so sorry I am not very Savy in spread sheet stuff . when i opened the sheet , it would NOT allow me to Edit /change the values . It says its in THE VIEW MODE ..... What I have to do to make it active ???? Basically , how can I download ? do I need to get the permission from the owner of sheet ? please kindly advise !
Hi Dave, could you do a video on "How to milk the most from a Wheel strategy". You can cover selection of the "best" underlined stock, choice of strikes - both puts and calls, and how long is DTE, should we choose ATM or ITM to optimize total returns. The objective is not to own the stock, but to maximize total income. I think this topic will be well liked and appreciated by a lot of people. Thank you. Huan
Hi. You should be able to download a copy that you can modify. Problem is usually people try and share it which would allow anyone to modify my copy. Look for the download option.
I'm used to buying puts and calls. I don't have experience selling options. I'm sure I'm not the first to say this, but that "maximum loss" looks terrifying. No one actually loses that much right?!
Hi Adam. I get it and I do talk about that in a few videos. When selling a put on AAPL, you agree to buy it at a certain strike price, if AAPL goes to zero you would have a max loss. Anyone that has AAPL shares would also have a max loss. I'm not worried about AAPL going to zero - It is just a warning. When you sell a call against AAPL, you agree to sell it at the strike price (150 in the example). If AAPL goes to 500 you would lose the gain from 150 to 500. It is actually UNLIMITED but again it is just a warning.
I’m happy to hear you recovered from COVID and hope you and your family suffer no long-term issues. Rest is key, though you don’t seem like a sit around kind of guy. Give yourself permission to chill. Stay healthy. We need you.
Thanks for the kind words Leigh. Appreciate the thoughts! Everyone is feeling back to normal.
I've watched a lot of videos on options. Your style is great for beginners. Very laid back and matter of fact. No hyper ventilating fast talk. Thanks for what you do.
Thanks Bill! Appreciate the comment. Nice to hear.
Dave. THANK YOU for the follow up on this. As simple as it is, this helps to create a solid mathematical foundation that will be key in analysis and in avoiding errors. Kudos! Jerónimo
Welcome! Hope it helps and thanks for following along.
Thank you so much for all the knowledge you've shared! The way you explain this material has been so helpful to me that I can't thank you enough. I personally really like how you have this document set up with separate tabs for the calculators and tracker. The simplicity of the "tracker" is perfect for me, but I am curious about a couple of fields. Specifically the "ignore roi" columns and the "prev weeks" section. Everything else makes total sense to me and I wouldn't change a thing. I'd just like to make sure I'm using the "tracker" page as it was intended because I absolutely love how you have it set up. Thanks!!
Hey Adam. Glad you are finding the spreadsheet useful! The tracker could be cleaned up more. The "ignore roi" was a field I was using to clear out some data on some odd trades so I could make some calculations. You can ignore the ignore ROI field!😀 The "previous weeks" is a field I use to total what I make each week using the B (week) column. I set a weekly goal and this is a way to see if I'm hitting my goal as I close out positions. You may have to verify that the totals are grabbing the correct rows as you build out your sheet. Any other questions, just let me know!
Thanks Dave. Your videos on options have proven very helpful. You’re the only person I’ve found who has shared the info in very understandable language.
Thanks! I'm glad it helps and thanks for the feedback.
I’d love to see a video on buying a LEAPS option
… selling CC’s on them, and if you’re supposed to sell them for a profit after a certain time frame, or exercise the option and buy the 100 shares of its at a good price.
I will look at pulling something together. Thanks!
Excellent videos!!! Which one of your videos walks you through what steps you take to see if a stock is worthy before or after the spreadsheet? Hopefully it is step by step like this one.
Hi. Thanks! I don't have a specific video yet addressing stock valuation but a good idea for 2023. You can find many discounted cash flow videos available to help get you started.
Glad you're well and back!
Thanks Jeff! Not too bad. 48 hours of flu and a few days of being tired.
@@wealthadventures As long as you're back to to tip top! And thank you for the Excel template, perfect tool and FREE
@@CGroovy1975 Absolutely!
This is SO AWESOME! I was totally looking for a spreadsheet like this! Thanks!
Great! Hope it helps and good luck! Thanks for watching.
Great breakdown and explanation. I appreciate your videos 👍🏼
Hello! Thanks! Appreciate you taking the time to watch.
Thanks Dave. A method to the madness.
👍Thanks Vincent! Hope it helps and thanks for watching.
Phenomenal channel. Thank you. This is amazing. You do an excellent job of explaining the mechanics in layman terms. Fantastic!
Hey Andrew. Thanks! Appreciate it!
Thank you very much of the clear explanation how to track the sell put/sell call scenario, but when I tried to download the spread sheets, it is only for view only , can you help to let me have the editable version ??? so that I can practise on it
Thank you
Hi. You should be able to view it from the link and download it from there using the file tab. You can convert it to an excel file and move back to Google Sheets if necessary.
Thanks Dave! I made a copy as there are a few things I will add to my tracker sheet. I like the %From calc and the sum of prior weeks. As always good content clearly presented.
Thanks Matt! Appreciate the feedback. I'll keep working on it as well.
Hi Dave, might you have a wheel strat spread sheet?
No. I use an expanded version of the one in this video. Plan in 2023 is to update it and make it more functional to share. I have an additional page where I track all assignments. That way I can pull together any stock gains/losses back to the original spreadsheet for something like a wheel.
Hi Dave, thanks so much for sharing the spreadsheet. Definitely a great visual tool for me. I’m still new to options and my question is: do you have to close a Call/put option that you opened, or do you let it expire worthless, if it doesn’t execute? I sold my first put! :)
Hey M D. Congrats on that first put! If you make it to expiration and the stock is above your strike on that PUT it will naturally expire. You should just see a transaction with your broker that states it expired (usually by Saturday morning). You don't have to do anything. If it expires below your strike, the shares will be assigned to you and your account will be debited for the 100 shares. Again, you don't have to close it.
@@wealthadventures Awesome, that's what I thought. Thanks so much again!
I'd like to play the wheel game with spy and this calculator is exactly what I was looking for. Do you have another spreadsheet where I can post all of my trades and view all weighted gains/losses?
Hi Mike. I have a basic one that is in that same download as a starting point. I have built my version out but it is not streamlined and I hesitate to share it. I hope to make it more user friendly here in 2023. I track each trade on a row and track assignments on another tab. Works decent but want to pull it all together.
@@wealthadventures Sounds fantastic. I already started using your spreadsheet and entered the trades I've done so far in Jan. This spreadsheet is slick - thanks so much. Also, I really want to sink my teeth into selling Spy puts and want to learn which way the herd is heading. Do you have any vids that can help me learn how to predict Spy behavior?
@@mikejohnr1315 I have not made any videos yet on indicators. If you want to start doing some research I would start with simple moving averages and volume indicators and build from there.👍
Thanks Dave... Good stuff as usual. I was wondering how you determine the exact accurate intrinsic value of the deep itm covered call you write. In other words does fidelity provide you the actual price of the underlying at the time that your call was sold on an existing underlying?
Thanks in advance.
Hey. Let me know if I'm not understanding but...The intrinsic value for a sold call that is ITM will be (strike price - stock price) * 100. In other words, if you exercise the contract right now, you would be able to turn around and sell the stock for the current intrinsic value. If you "sell to close" the contract you would be able to collect the intrinsic value plus the extrinsic value. I do record the price of the stock when I sell a put or call for my own reference.
@@wealthadventures thanks for the response.. Yes the above is correct but with the ITM sell to open the intrinsic nets out and the adjusted profit is just the extrinsic when you sell. The real question was around how you know what the stock (underlying) price is when you sell a call against an existing underlying. For example Think or Swim just shows the total premium you received. You need to know the intrinsic to determine the extrinsic which is the adjusted profit on the trade.
@@jeffreytartamella7403 With fidelity it pulls the current stock price at the time of the trade when you submit the order. I throw that number on my spreadsheet as a reference point. Should be pretty accurate.
Nice explanation
Thanks Dave. Does the info populate automatically in the tracker tab? I haven't had a chance to use it yet but the spreadsheet looks like a very helpful tool. Billy
Hey Billy. It should fill out the info once you enter the base info. However, you will have to drag the formulas down in calculated fields as you add lines. Still working on it but hope to add some additional automation so that info can be ported over from the other tabs as well. Thanks for watching!
Do you use certain brokerage or reseach links such as Morning Star to pick your stocks ? If yes, can you please provide me the research companies names? Thank you.
Dr Dave. So this week is the FOMC meeting and the PMI along with MU earnings . Any 1 of these 3 events can cause the market to rollover bringing Apple with it.
Wouldnt we want to use a more speculative timing approach to choose our PUT sell price?.. If we go in too early we capture much less premium then if we sell the PUT after a bad PMI reading, bad FOMC notes or a Bad Earnings call from MU. Powell is likely to give bad FOMC news as he needs the market to go down to tame inflation
Hey Dave. Lots going on this week! I'm all buckled up! Lol. I think If you purely want to trade options for income these are certainly bigger factors. If you are looking to activate money and put it to work in this market, selling OTM puts would be my approach. On exactly what stock/ETF is a good question. I'm being extremely selective at the moment. This was simply an example to illustrate the spreadsheet but if you look at my active trade on AAPL it is a 110 put with 7/15 expiration that I need to close. I'm selling a few PUTs selectively and keeping my eye on the VIX. Hard to put cash to work these days!
@@wealthadventures - Thx. Im holding a ton of cash as well !
Thanks!
Thanks! Appreciate it.
Hi Dave, I love your videos. They are simple and easy to turn them into actions. In fact, I did my first options trading watching your videos. Thank you.
Now my request... with the market having down a lot, I have ended up putting all my cash on stocks. But, I have a huge margin buying power. So, I applied to be upgraded to level 3 in Fidelity, so I can sell naked/uncovered puts. With market being so at the bottom, either those prices will not hit, or even if they get to be put to me, I don't mind to go into margin a little.
Now the ask... can you also provide a spreadsheet for cost analysis considering the cost of margin while a sell-naked-put is active unit it expires. Fidelity has a somewhat complicated margin requirements calculator for uncovered puts. It's good toanalyze this kind of trades taking into account the cost of margin. Can you augment your spreadsheet for this kind of trades and make another video to go over it? Thanks again! Glad to hear you recovered COVID!
Hi. Thanks for watching! I can look to add something that would allow you to input info for margin information. Good luck and be careful with those naked puts!
Love this
Thanks! Hope it helps. Any questions, just ask.
Dear coach , this a fantastic tool .... I am so sorry I am not very Savy in spread sheet stuff . when i opened the sheet , it would NOT allow me to Edit /change the values . It says its in THE VIEW MODE ..... What I have to do to make it active ???? Basically , how can I download ? do I need to get the permission from the owner of sheet ? please kindly advise !
You can download a copy and modify. Follow the link and you should see a download option.
Hi Dave, could you do a video on "How to milk the most from a Wheel strategy". You can cover selection of the "best" underlined stock, choice of strikes - both puts and calls, and how long is DTE, should we choose ATM or ITM to optimize total returns. The objective is not to own the stock, but to maximize total income. I think this topic will be well liked and appreciated by a lot of people. Thank you. Huan
Hi Huan! I always appreciate ideas for videos. Let me see what I can pull together that might cover some of those topics. Thanks for watching.
do you do spreads?
Hi. Yes but the majority of my trading is still straight PUTs and CALLs.
Good Morning Dave, I am trying to use the calculator but it says I dont have permission, am I missing something? Thank you.
Hi. You should be able to download a copy that you can modify. Problem is usually people try and share it which would allow anyone to modify my copy. Look for the download option.
I clicked on the link for the spreadsheet but it says "view only" how do I use it for the stocks I want to check?
After you click on the link, you should be able to download a copy to your PC that you can modify.
I'm used to buying puts and calls. I don't have experience selling options. I'm sure I'm not the first to say this, but that "maximum loss" looks terrifying. No one actually loses that much right?!
Hi Adam. I get it and I do talk about that in a few videos. When selling a put on AAPL, you agree to buy it at a certain strike price, if AAPL goes to zero you would have a max loss. Anyone that has AAPL shares would also have a max loss. I'm not worried about AAPL going to zero - It is just a warning. When you sell a call against AAPL, you agree to sell it at the strike price (150 in the example). If AAPL goes to 500 you would lose the gain from 150 to 500. It is actually UNLIMITED but again it is just a warning.
@@wealthadventures Great, thanks Dave.
I wonder if there is a book that demonstrates how to generate income from writing options for living. A sure fire formula lol
you can do it the same way dave is showing you but you need a big pot of money to start
Hey Louis. Plenty of good references are available but I'm still in search of the sure fire formula! I'll pay extra for that one when we find it.
Thanks!
Thank you! Appreciate it.