Merry Christmas, ROD! I love all the songs and pop culture references in your regular videos, but this options trading series is my favorite. Thanks for all your hard work and hope your family has a wonderful holiday season! 🎄❄🙏
Had to roll my MSTU as I got caught in the forward split. Received 10 contracts on the same strike point. When it started crashing, I started Rolling out & down individually. Haven't got early assignment but I was able to collect bits of premiums here and there. Let's see how it'll perform this week. Good luck Rod, You'll be fine! 💪
in my case, I do way better when I stick to just one ETF or stock. Right now, I do SOXL because the implied volatility’s and premiums do warrant it. Also, I don’t usually sell calls over my cost unless it’s a total slam dunk, like when TSLL shoot up after earnings a few weeks ago. Mainly, I’m here to take the premiums so i am good with letting the shares go. Also, why did you drop TSLL? you have said it got too expensive but you are heavily invested in SOXL that trades at a similar level with a lower IV. Great channel! (i just sent $15. Happy Christmas!)
Lots of lessons learned this week. Like you said increase cash reserves, but it's hard when so many juicy trades are in my face. Cut down on number of stocks traded. Right now 10 tickers in play. That's too many. Get more conservative on put strikes. I might even go back to my original goal of $10k month in options income. Now doing $20k but that's with much greater risk. When my portfolio builds up with more cash shoot for more income. Maybe I'll become one of those high flyers with huge portfolios who get excited about 30-40% yields on their trades 30-90 days out LOL.
THE ONLY way to learn is getting those contracts that were not fulfilled as expected. I wood look at the glass half-full, I would sell a bunch of calls and collect premiums! That's the idea to make income, whichever way it comes. I played with SOXL got burned quick, got out of it. I rather buy 1000 NVDY and call it a day instead of dealing with SOXL! To me SOXL is not worth the trouble!
@RetireonDividends A market crash is a golden opportunity to get stocks at rock bottom prices that are great companies and will get back up. But if I buy garbage at low prices, it is still garbage! I got to know what to buy on a crash correction, at which tome puts come in handy!
Great video . I am about 40 percent cash and I would like to get up to 60 or 70 percent . I will tie up about 1/2 of that per week . I prefer to only spend 1/2 of what is tied up unless I have a lot that are real close to the closing price then I will take assignment of a higher percentage. To me cash management is a key for me to keep the premiums rolling in each week.
I have played 1 contract with MSTX for all of Dec. I have made $2,600 in premium so far. Very pleased so far. I am interested in moving all of that capital into MSTU starting in Jan 2025. I have my daughter trading in MSTY. She has 66 shares so far. She is just 18 but she is pulled in $200+ this month off the dividend. The goal is 100 shares to then start the wheel. 1 contract is a start but 10 contracts combined with the monthly dividend... I wish I had that type of start when I was 18 and the goal is 1,000 shares before she turns 19.
Congrats on the 20k subscribers Rod🎉. I am always looking forward to your option videos. I used to sell put on MSTY but I moved away from it because I prefer weekly options.
Good income dude. At the moment you can't be doing puts on SOXL if the strike price starts with a 3. It's way too easy for SOXL to dip into the mid-20s so anything 30+ gets tough to get rid of without taking a loss. This is all fun money that you can be a degenerate with, but you'll learn sooner or later that when you don't have a paycheck to backstop your options income that you need to be more conservative with your strike prices while also doing options on more tickers and not fewer to diversify more. I had to play defense on my MSTX puts this week and roll the trades down and further out to avoid assignment. I do a mix of weekly and monthly puts on different market sectors because it's rare that everything goes down at the same time. I'm utilizing about 50% of the total funds towards selling puts.
Greetings, what are your strike points for MSTX, I have a couple contracts ITM at the moment but also rolled a couple when it reached below $60. Fingers crossed for this coming week. Happy holidays!!
@@alcubes2000 For my weeklies I like to stay in the 75-80 range on MSTX when it's in the $80-90+ range. I got stupid greedy on a $90 put when it was in the 100s. One of those situations that you know you shouldn't do it but you do it anyway. I rolled all of my positions Friday morning to avoid assignment and it turns out most of them wouldn't have gotten assigned because the price recovered pretty good. You're welcome everyone; me rolling my trades caused MSTX to go back up.
I rolled my puts out and down for mstx. The volatility does allow for that without too much issue but yeah waiting for down days from now on for mstx or mstu. The values skyrocketed with the down week but i am looking at just 1 week, 1% return in premium.
Lessons learnt this week for all of us. I have 2600 shares of msty. Thinking of selling covered calls with strike price of 40. Premium is 0.25 cents. The contract will expire on January 27 ish ~. My average is 35.09 so if it rises i will be in a green over 5k ~ :D Actually i would prepare for them to rise, but doubful they will rise to 40, so I could cash out my msty cow.
Harder to manage but provides some buffer having both puts and calls in play. When you have events like Wednesday when the FED cut rate and equities fall…..you don’t all suffer. Be patient, markets will recover roll out options if you can get good premium….if you can’t then get assigned and wait to sell calls
I bought way to many shares of MSTU at the end of the first red day, Friday morning they were at low $9s I sold for a loss of 20k All good, lessons learned watching it recover
Curious as to why a lot of you guys do the 2x instead of using margin to do MSTR original? Are yall trading in IRA's? If not curious as to what is the difference to you? Also what makes your decision to roll vs take assignment? I tend to prefer rolling just because I dont really want to hold the stocks in my account if I can help it. I also sell far out of the money calls to pad the returns when I feel it is safe enough so i still get some call money anyway. But what about you guys?
I feel better 1 was assigned at 13.6 on MSTU and 7.5 of WOLF I also own CLSK at 12.5 and MARA at 24.5 average cost for 3 contracts. Will write a put at 19 Monday on MARA and write calls on the 3 24.5 won't get much premium but it will be something.
Got wiped out by soxl this summer. Went from up 55k to down 45k in two weeks. Since then I’m trading less, using Covered call funds more and staying 20% in cash
By selling puts and covered calls on leveraged etfs you are basically already using margin. I think you are understating the risk in your account. Your strategy could result in your account blowing up if we get a big pullback- the current correction in Nvda is nothing, think more like what happened with meta a few years back.
I am new to options but I dabled with 3x leveraged etfs in the past its easy to win big money but its easier to loose big. I have now baisc understanding of buy/sell calls and selling puts. From my understanding I would not us3 leveraged ets with buy calls sell puts. I.
Sorry you had a bad week. I"ve come to the conclusion that we are in a very volatile period right now that may not let up till mid next year. There are extenuating factors, inflation, the fed, the instability of crypto with the old ways going out and the new ways coming in. I only touch double leverage now on fully green days and not just Bitcoin green days full market green days which are not that often because I've noticed that even if the whole market is green bitcoin is still secondary. It's a rescue secondary asset and even when it's green if the regular market is struggling they may take a dive because people will hold back their money due to news and happenings. Just something to consider. Mstu will be a good bet once the market opens on Monday and Mstr starts being added to indexes. It's Christmas though so that may happen a few days after. Bitcoin has still not recovered from the inflation news so that may hold up a big rally if it's still under 100k.
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Merry Christmas, ROD! I love all the songs and pop culture references in your regular videos, but this options trading series is my favorite. Thanks for all your hard work and hope your family has a wonderful holiday season! 🎄❄🙏
Thank you very much, Merry Christmas!
Had to roll my MSTU as I got caught in the forward split. Received 10 contracts on the same strike point. When it started crashing, I started Rolling out & down individually. Haven't got early assignment but I was able to collect bits of premiums here and there. Let's see how it'll perform this week. Good luck Rod, You'll be fine! 💪
in my case, I do way better when I stick to just one ETF or stock. Right now, I do SOXL because the implied volatility’s and premiums do warrant it. Also, I don’t usually sell calls over my cost unless it’s a total slam dunk, like when TSLL shoot up after earnings a few weeks ago. Mainly, I’m here to take the premiums so i am good with letting the shares go. Also, why did you drop TSLL? you have said it got too expensive but you are heavily invested in SOXL that trades at a similar level with a lower IV. Great channel! (i just sent $15. Happy Christmas!)
Thank you very much! Merry Christmas
Lots of lessons learned this week. Like you said increase cash reserves, but it's hard when so many juicy trades are in my face. Cut down on number of stocks traded. Right now 10 tickers in play. That's too many. Get more conservative on put strikes. I might even go back to my original goal of $10k month in options income. Now doing $20k but that's with much greater risk. When my portfolio builds up with more cash shoot for more income. Maybe I'll become one of those high flyers with huge portfolios who get excited about 30-40% yields on their trades 30-90 days out LOL.
Wake up call for all of us
THE ONLY way to learn is getting those contracts that were not fulfilled as expected. I wood look at the glass half-full, I would sell a bunch of calls and collect premiums! That's the idea to make income, whichever way it comes. I played with SOXL got burned quick, got out of it. I rather buy 1000 NVDY and call it a day instead of dealing with SOXL! To me SOXL is not worth the trouble!
@RetireonDividends A market crash is a golden opportunity to get stocks at rock bottom prices that are great companies and will get back up. But if I buy garbage at low prices, it is still garbage! I got to know what to buy on a crash correction, at which tome puts come in handy!
Thanks! Are your google sheets available for download somewhere? These weekly breakdowns + thought process is beyond helpful.
Thank you so much!
Very good lessons learned this week - I wrote mine down and will put them on my whiteboard to remind me everyday LOL
Great video . I am about 40 percent cash and I would like to get up to
60 or 70 percent . I will tie up about 1/2 of that per week . I prefer to only spend 1/2 of what is tied up unless I have a lot that are real close to the closing price then I will take assignment of a higher percentage. To me cash management is a key for me to keep the premiums rolling in each week.
I have played 1 contract with MSTX for all of Dec. I have made $2,600 in premium so far. Very pleased so far.
I am interested in moving all of that capital into MSTU starting in Jan 2025.
I have my daughter trading in MSTY. She has 66 shares so far. She is just 18 but she is pulled in $200+ this month off the dividend.
The goal is 100 shares to then start the wheel. 1 contract is a start but 10 contracts combined with the monthly dividend... I wish I had that type of start when I was 18 and the goal is 1,000 shares before she turns 19.
You are an amazing teacher.
Congrats on the 20k subscribers Rod🎉. I am always looking forward to your option videos. I used to sell put on MSTY but I moved away from it because I prefer weekly options.
Good income dude. At the moment you can't be doing puts on SOXL if the strike price starts with a 3. It's way too easy for SOXL to dip into the mid-20s so anything 30+ gets tough to get rid of without taking a loss. This is all fun money that you can be a degenerate with, but you'll learn sooner or later that when you don't have a paycheck to backstop your options income that you need to be more conservative with your strike prices while also doing options on more tickers and not fewer to diversify more. I had to play defense on my MSTX puts this week and roll the trades down and further out to avoid assignment. I do a mix of weekly and monthly puts on different market sectors because it's rare that everything goes down at the same time. I'm utilizing about 50% of the total funds towards selling puts.
Greetings, what are your strike points for MSTX, I have a couple contracts ITM at the moment but also rolled a couple when it reached below $60. Fingers crossed for this coming week. Happy holidays!!
@@alcubes2000 For my weeklies I like to stay in the 75-80 range on MSTX when it's in the $80-90+ range. I got stupid greedy on a $90 put when it was in the 100s. One of those situations that you know you shouldn't do it but you do it anyway. I rolled all of my positions Friday morning to avoid assignment and it turns out most of them wouldn't have gotten assigned because the price recovered pretty good. You're welcome everyone; me rolling my trades caused MSTX to go back up.
I rolled my puts out and down for mstx. The volatility does allow for that without too much issue but yeah waiting for down days from now on for mstx or mstu. The values skyrocketed with the down week but i am looking at just 1 week, 1% return in premium.
Lessons learnt this week for all of us. I have 2600 shares of msty. Thinking of selling covered calls with strike price of 40. Premium is 0.25 cents. The contract will expire on January 27 ish ~. My average is 35.09 so if it rises i will be in a green over 5k ~ :D Actually i would prepare for them to rise, but doubful they will rise to 40, so I could cash out my msty cow.
The hardest thing about options income is self control. Leaving available buying power on the table is hard to do
Harder to manage but provides some buffer having both puts and calls in play. When you have events like Wednesday when the FED cut rate and equities fall…..you don’t all suffer. Be patient, markets will recover roll out options if you can get good premium….if you can’t then get assigned and wait to sell calls
I bought way to many shares of MSTU at the end of the first red day, Friday morning they were at low $9s I sold for a loss of 20k All good, lessons learned watching it recover
Oh man that sucks. Could have bag held and sold calls to get out of that. Never sell at a loss if you have other choices.
Ouch, sorry to hear that
@@steelhorses2004 Opportunity cost sometimes, I like things to move fast at times. I got away from my basics and traded emotionally
Curious as to why a lot of you guys do the 2x instead of using margin to do MSTR original? Are yall trading in IRA's? If not curious as to what is the difference to you? Also what makes your decision to roll vs take assignment? I tend to prefer rolling just because I dont really want to hold the stocks in my account if I can help it. I also sell far out of the money calls to pad the returns when I feel it is safe enough so i still get some call money anyway. But what about you guys?
Can’t afford MSTR
I feel better 1 was assigned at 13.6 on MSTU and 7.5 of WOLF I also own CLSK at 12.5 and MARA at 24.5 average cost for 3 contracts. Will write a put at 19 Monday on MARA and write calls on the 3 24.5 won't get much premium but it will be something.
You need to diversify. You have everything in crypto.
Do you have videos on option's for beginners ?
Do you give classes on option trading ?
Yes, go to playlists and look for the options trading playlists. No classes sorry but couple whiteboard videos
@RetireonDividends
Thank you , very much appreciated !
Damn 17 put ohh my its all good bitcoin it's back and on Monday will go up sell or.do a call and reset no problem
Got wiped out by soxl this summer. Went from up 55k to down 45k in two weeks. Since then I’m trading less, using Covered call funds more and staying 20% in cash
How are you calculating actual rate of return?
Premium income divided capital used
@@RetireonDividends Thanks. Are you able to share portfolio or account growth in future videos? Does that line up with your rate of return?
Thank you 🙏 ROD I almost asked for mstu but you did it thank you ❤❤❤
On Monday I make 1200 on mstu and drop free money
By selling puts and covered calls on leveraged etfs you are basically already using margin. I think you are understating the risk in your account.
Your strategy could result in your account blowing up if we get a big pullback- the current correction in Nvda is nothing, think more like what happened with meta a few years back.
I am new to options but I dabled with 3x leveraged etfs in the past its easy to win big money but its easier to loose big. I have now baisc understanding of buy/sell calls and selling puts. From my understanding I would not us3 leveraged ets with buy calls sell puts. I.
ROD your trades and greed got the better of you this week please be careful!
Reply
Sorry you had a bad week. I"ve come to the conclusion that we are in a very volatile period right now that may not let up till mid next year. There are extenuating factors, inflation, the fed, the instability of crypto with the old ways going out and the new ways coming in. I only touch double leverage now on fully green days and not just Bitcoin green days full market green days which are not that often because I've noticed that even if the whole market is green bitcoin is still secondary. It's a rescue secondary asset and even when it's green if the regular market is struggling they may take a dive because people will hold back their money due to news and happenings. Just something to consider. Mstu will be a good bet once the market opens on Monday and Mstr starts being added to indexes. It's Christmas though so that may happen a few days after. Bitcoin has still not recovered from the inflation news so that may hold up a big rally if it's still under 100k.