Congrats. Good choice.

Irish 2.0 said:

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My new investing partner Bourbon. Going long WOOF and CHWY

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Adorable

Ragoo said:

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You should do high probability premium selling only. Show the thread that money is made more consistently by selling options versus buying long directionally.

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That's interesting because I'm actually pivoting to trading high probability wave setups.. where I've identified that whatever timeframe it's in, I can see a wave 1 and 2 completed, and the potential for the (i) and (ii) of wave 3 to be set up in the short term. If it does, that's when I enter. Stop immediately becomes the bottom of wave (ii) of 3 so that if I'm wrong, I lose minimal. If I'm right, I'm likely net free in short order with somewhere between 10% and 40% of my shares still in hand with plenty of room to go.

What's interesting about it is that it's merely a share buy strategy. But knowing where the next tops and bottoms are, I can use call and put selling to lower my basis even further.

BrokeAssAggie said:

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You went big! Nice!

If you are around the Austin area I will come help in exchange for a truck load. I can supply the beer too.

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My best friend's dad is about to start phase 2 of an apartment complex in a few months. They may have to remove a few oak trees. If so, I should be able to get you some. That's another reason why I just bought the splitter.

Good deal. Just give me a week or so heads up.

Will do

Ragoo said:

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We have 5 year old twins. Kids eat and go to bed 7:30. We usually eat 9-9:30.

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We have a 4 yr old, in bed by 6:00, asleep usually by 6:15. He usually is up by 7 am the next day, a good sleeper!

He also already has a Zwift account he's logged a few miles, no level up yet though, haha.

He has to earn those pizza slices!

I'm ready to make some money this week

ProgN said:

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Well gang, my back not up for splitting wood today so I will do it tomorrow. However, this thread is all about sharing advice so I took yours under advisement. Here is my new toy that should help save my back.

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Can I borrow it?

A wind storm partially laid a tree down this week.

No problem. Totes can fell this without harming the fence.

So after replacing a section of fence all today, I'm finally ready to process some firewood. My back hurts too.

Anyways, yes to selling premium. This is the way.

Those trees are awesome. Where is that.

Nice

$30,000 Millionaire said:

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Ok, here is what I'm thinking of as parameters

1) will focus on high probability plays
2) willing to take assignment with anything I sell puts on
3) I will not take money out of this and will keep growing it
4) will post entries and exits on everything as I do it
5) weekly update or so on where we stand
6 this may bore some of you to death, but let's see what we can do.

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Won't #2 limit you to pretty much cash secured puts and limit your margin usage?

Edit.. really looking forward to this as I love this strategy.

What about % allocated for each play and % of the account in play at one time? You going to try and keep cash reserves or deploy the majority of it?

Love this idea btw and will be following along.

jwhitlock3 said:

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What about % allocated for each play and % of the account in play at one time? You going to try and keep cash reserves or deploy the majority of it?

Love this idea btw and will be following along.

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I want to be flexible on this. Heavily invested when it makes sense. Light when it makes sense

SF2004 said:

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$30,000 Millionaire said:

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Ok, here is what I'm thinking of as parameters

1) will focus on high probability plays
2) willing to take assignment with anything I sell puts on
3) I will not take money out of this and will keep growing it
4) will post entries and exits on everything as I do it
5) weekly update or so on where we stand
6 this may bore some of you to death, but let's see what we can do.

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Won't #2 limit you to pretty much cash secured puts and limit your margin usage?

Edit.. really looking forward to this as I love this strategy.

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Yes. My goal is to do something where anyone can follow along. I am going to keep this very simple

We used 1/3 of the account or so selling the COIN put on Friday.

I also don't want this to require much baby sitting

Got it. I can see how selling aggressively on an oversold asset could reduce risk (the blowing up account variety) and keep solid returns.

If you get assigned will you just sell on a rip or run the wheel with covered calls?

Yes on both. Or dump.

Taking coinbase for example. We sold a 167.5P for basically $10. $9.90. As long as coinbase is above 157.5 on Friday, we are going to make money.

If we got assigned, I'd be surprised to see 140s without a major fraud issue popping up, which you can't predict. If we closed at 155, for example, I would promptly sell 157.5C against it.

I'm in!

You have any that you have been reviewing to sell premium on this week? I had been leaning more towards deep ITM leaps but selling premium at these levels is pretty attractive even if you get assigned.

What are everyone's opinions on $ARKK?