Insane Weekly Income Selling Options

It’s time to set goals. I am looking at setting a weekly goal of 2k a week and 8k a month for option premium. Is this crazy or should I tone it down and pick lower goals. I have been close to averaging $7,500 the last two months with sticking to an average of six trades a week. One more trade weekly might help me reach this goal.

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

My Blog with my options strategies, monthly reviews, and lessons on getting started.

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[carrie]

Great video Jim. Thanks for the info!

[geeeee]

I was scratching my head at first about bull spreads on bear trades. Thinking why not just buy a call spread if you think stock will trade down. Or a condor. Then it sort of hit me :)...

[jazz]

It seems to me that if you would have just bought the SPY or VOO for the last year and invested every month, you would have made more money with less stress. Have you ever compared the two to see if that is true? How much of a difference is it?

[jefflane]

Hi Jim, rather than targeting selling say $10K per month in premium target having $10K in open premium at all times. As premium expires or is bought back you would sell more premium to get back to $10K. I am thinking that way your risk would stay constant. Perhaps this is similar but what do you think?

[waynezhou]

Thank you for sharing, Jim! What's the minimum amount of money needed to implement this strategy? $60, 000?

[WheelStratJoe]

I would have a min amount premium per week. So everything over that is icing.

[jgoemaat]

Yes, when you talk about gains, please mention percent returns not just dollars because everybody’s got different deployed capital and his other said you could get 7 to 10% a year in the S&P 500 so that’s the goal post

[jasonr]

Hey Jim, how much deployed capital (total account size) are your monthly and weekly goals based on?

[cjhiggins]

Collecting initial credit is step one, but how are you accounting for buying to close in your goals?

[pezdacandyboi]

Some of these are long out options right. Do you wouldn't make 1700 or 2000 a week since that capital is already timed up. Unless you have a ton of capital that's unused

[YIWOTY]

Do you ever trade cash secured puts (leave out the long put)? I've been having good success doing so and was trying to wrap my brain around the difference in ROI of the two strategies. My ROIs are lower than the figures you cite on your credit spreads (I try to get 25% to 30% annualized), but I don't think the risk profiles are the same. If I get assigned shares, I can sit on them as long as I choose, and can sell calls against the position until the shares are called away. However, if a stock drops while you're selling credit spreads, you might actually experience a max loss on the trade. Any thoughts on this? Thanks!

[radio_nowhere]

Love your vids. Been following you only for a month. I see your website has lessons and I was wondering if you give out your trading notifications for a fee? Might be a great service for you to start considering your success. I'd happy pay haha!

[nat]

Summer months traditionally tough for trading, but does that hold true for commodities as well?

[blockaderunner]

What's your take on SNOW? even though it's negative ROIC, EPS, but zero debt and pretty excellent FCF.

[dannyg]

So how can I start doing this? Where does one start?

[jomara]

The saying is “sell in May and go away”