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Another week where sold puts expired out of the money and I kept the premium.

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  • 103096819 : Such a trivial thing. No need to show off lah

  • 102379668 OP 103096819 : I am not showing off, I am just giving ideas on how to make more money so others can explore. This is how much I made  - 330 + 169 + 174 = 673. If 673 is a small amount for you , then you are already a millionaire.

  • GratefulPanda : Thanks for sharing, this is indeed helpful for me as a beginner to options. If it is not too much trouble, may I know how did you protect yourself when you sold these three puts? In the sudden event the price suddenly falls or gaps down? Thanks!

  • 102379668 OP GratefulPanda : I usually select reputable stocks that are already beaten down and then I sell puts at a much lower price. If one selects an expiry date which is 2-3 weeks out and a much lower strike price when the market is volatile , then one gets paid a good premium. I don’t sell Puts for stocks when they are going to report earnings as the risk is very high. I have been assigned shares only twice while selling Puts , where I made a mistake of selecting an expiry date of one week and a strike price just below the current trading price. When I was assigned 100 shares of RCL, I sold covered calls on them thus earning more premium and lower my cost basis and eventually sold them in a big profit. You need to be patient and wait for the right opportunity. If you are new to options , then I would suggest you try paper trading to get a hang of it.

  • GratefulPanda 102379668 OP : Thanks so much for your kind and generous reply. I am definitely still getting the hang of things in paper trading options. But really very muc appreciate your clear and wise words of experience and advice, I already found it really helpful in expanding my beginner knowledge. Thanks again! Happy New Year and may 2022 bring you lots of luck and prosperity!!

  • 102379668 OP GratefulPanda : After yesterday's drop , I will consider selling puts on $CZR and $FUTU today.

  • 102379668 OP 102379668 OP : These are my sold Puts expiring on 07 Jan 2021. As you can see most of them are “out of the money” for now but CZR is very close following yesterday’s drop after the FOMC.