Hey everyone! 🎉. I just wrapped up my first month of selling options, and let me tell you, it’s been quite the experience! As I mentioned in my previous post here, I decided to dive into the world of options selling, and spoiler alert: I made some sweet profits! 💸

Let’s dive into the juicy details. 🍋

The Strategy for My Initial Options Selling Journey 🍕

This month, I stuck to a simple plan: once any of the options I was selling hit a profit of 1k+, I immediately bought them back, booked that profit, and then—plot twist—resold the same option based on the current market position. Yep, you heard it right! I resold the same option twice in a single month. Who knew recycling could be so profitable? ♻️💵

My First Experience with Options Trading 🍿

Honestly, it was quite a ride! 🎢 I kept a super close eye on the market, but it wasn’t as time-consuming as you might think. A quick 10-15 minutes a day, and I was good to go. I was prepared with a stop-loss plan in case things went south (you know, just in case the market decided to pull a fast one on me). My stop-loss? Double the expected return. So, if I expected a profit of 1.5k from an option, I was ready to close the position if it ever hit a 2k loss. Luckily, that disaster scenario never happened. Phew! 😅

Results from My First Month of Trading Options 🌟

All in all, this seems like a viable way to make some extra cash for me. But, before you get too excited, let me sprinkle in a dash of reality: there’s a huge risk involved in this, just like any other stock market venture. So, do your research, folks! And please, please, please don’t follow those social media “gurus” blindly. 🧐

What’s Next? 🚀

I’m using the margin provided by stock pledging to make all of this happen. And guess what? I’m thinking about increasing my stake to see if I can squeeze even more out of this strategy. Who knows? Maybe next month will be even better! Stay tuned, because I’ll keep sharing my adventures in options selling.

Till then, keep your trades safe, your profits high, and your stress levels low! 😎

Happy trading! 🤑