$200 Per Day Selling Stock Options

I have adopted a pattern of trading that has worked well for me. I typically do one trade a day and make around $200. In this video, I share how this one-a-day trade works and why it has been successful for me.

I have been on a journey to learn the right way to trade stock options. Along the way, I have decided to share with others both my successes and failures. My hope is that others can learn and shorten their journey to learn how to incorporate one of the best ways to make passive income.

Thanks for joining me on my journey!

Uncle Jim

If you would like early access, special content, and some handholding then check out my Patreon page.

[sarbyfar]

I was really paying attention and helped by your sharing this. Thank you!
24:45

[adityarookey]

Thanks for the tip about KO that you gave in one of your earlier videos. I have opened 67.5/70 55/52.5 iron condors for Jan 2023 (5 months out ) . So far dojng well

[Isaiasdiaz]

Great video!!!! What delta do you use for your credit spreads and iron condos? Do you close them at 50% gains or wait until expiration? How to you manage risk? For example if the stock touches your short leg, do you close and roll? Thank you.

[OptionSpreadProfits]

CVS, SQ, C: they are yes oversold but broke support levels. I would be cautious setting Put credit spreads on those .And I didn't even check the IV (which I like to be 45% and above) to collect a decent premium. I also don't understand the need to go set the expiration 4 months out; But good luck.

[lin-joglobal]

I have been doing call credit spreads in conjunction with CSP.

[KingsPizza]

i totally agree on the market trading down to sideways thru September oil stocks look good OXY, SLB selling covered calls.

[apip]

I think you calculate premium collected as income which is not an income until the position is closed. When you roll it out, is it because the position is in loss or just opening a new position? It is more confusing to new people who dont understand options.

[dfox]

I noticed you do a lot of spreads. Is this to decrease risk or to allow for more positions (as they don't require the same capital as just owning a short put)? Lastly, do you roll the spread if the position gets challenged or do you just manage the short put from that point on?

[terryneal]

I hear people say "long term growth" what is the exit strategy with that? Wait until you need money and sell shares for the money needed? Leave it to the kids and U.S. IRS? I prefer using what I have for income now and if I do buy long term I buy dividend stock. The income trades IMO make any other strategy pointless. I know you buy dividend stock, general question.

[willydear]

I'm looking to get back into investing next month. Started investing in the late 1990's and did good until 2000 thru 2003 killed my portfolio. Got out of investing until 2008 then invested heavy in my 401k but that didn't go well. So if the market turns to junk next month you can blame me. Lol. I'm looking for a 2 % per month return. Plan on using the wheel, vpcs, and value investing. Thanks for the videos.

[BrokenWill]

Do you like foot locker as a dividend stock? They have earnings this week. I was thinking of selling a put and then wheeling if assigned.

[TheYodaman]

Isn’t there a risk with option spreads that the option ends in the money and you get actioned?
Meaning you have to buy/sell the strike price x 100 shares?
Even with a long option for safety, you still need the money just in case as part of the process right?

[TranHoa-ombf]

thank you for the video, I wonder how much in account need to make 4k a moth?

[Eddie-gbbn]

How much capital would you need to sell options to be able to profit $200 a day/$4, 000 a month?

[hvac]

Hey Uncle Jim, is there any other way to message you. Going to join at the $10 membership. Just had a question.
Thanks Kel

[ILoveTrains]

This is great. Thank you for sharing the details of your methodology, My question is do you use VCCS (vertical call credit spreads) too, the opposite of the VPCS (vertical put credit spreads)?

[TravelUrsul]

It sounds like for the most part you let your options expire or you roll them. Is that right? You don’t try to close them at some percentage gain like some traders do?

[BlahBlah-wekx]

I'm curious how you make $200 a day unless you close your option. If it expires in say 30 days+ then you'll collect the full premium. Am I missing something ?

[endreh]

Is it possible to apply this with only $200? Or do I need more $, Currently saving up for more capital but bills and rent always tend to eat up my income lol

[dfox]

You may have covered this in a previous video, but making $200 per day is relative to the amount of capital you have working for you. Is this a large account?