That’s fair. I use robinhood to get odds on option trades and mostly trade on Schwab, I hate Schwab interface though but I trust them to protect my money and trades more than robinhood.
I sell puts a week out at the strike price where I have about 90% chance of winning(Robinhood provides the odds). Obviously you get it wrong sometimes so you have to buy the shares so I always trade on stocks that I don’t mind owning. If I buy the shares then I sell call option a week out at the strike price equal or higher than what I paid to buy shares and it usually comes back up within a month or so.
I'll upvote on the options, but I don't endorse RH for most. They are slow to react to corporate actions and have more glitches than others.
That’s fair. I use robinhood to get odds on option trades and mostly trade on Schwab, I hate Schwab interface though but I trust them to protect my money and trades more than robinhood.
Yeah, just use a real broker like Schwab.
May share your strategy?
I sell puts a week out at the strike price where I have about 90% chance of winning(Robinhood provides the odds). Obviously you get it wrong sometimes so you have to buy the shares so I always trade on stocks that I don’t mind owning. If I buy the shares then I sell call option a week out at the strike price equal or higher than what I paid to buy shares and it usually comes back up within a month or so.
Thanks for your explanation. Good luck!
You can use the Wheel it's bit more effective.
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How do odds work? Would I need an account?
What’s the wheel?
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