We are officially sitting at over $40,000 in Profits! From Selling Puts on AMD.
The number one question I received is Rich wht is your Days To Expiry (DTE) and what Delta do you use when selling options?
My strategy for AMD revolves around buying shares only at a discount and getting paid cash flow by selling put options. This allows me to have the long term growth exposure while generating cash flow that is settled weekly. My general rule of thumb is using a 10 Day, 10 Delta contract. This makes sure I only get assigned as SIGNIFICANT DISCOUNTS and also give me over a 90% Probability of Profit when selling puts for income. This allowed me to buy AMD in the low 200s in February and have returned over 100% on the shares or over $80,000 WHILE at the same time I’ve generated $40,000 in additional income from selling puts weekly on AMD. My dream is to pay down fully the shares I purchased through the premium collected selling options!
My edge comes directly from my background as a CPA auditing asset management and private equity funds in the Big Four. I saw exactly how the money managers were generating massive returns, and I spent the last decade building my own Fibonacci-focused systems to replicate it.
Trade Plan: Weekly I sell puts on the SP500 and AMD to generate cash flows. My goal is $2k/Week selling puts on AMD and this pays down the shares I purchased for 60k back in February. Those shares are now over 145k! In total, I’ve generated over $38,000 in cash flow from selling puts on AMD. This is my go to strategy on stocks I believe are in a BULLISH uptrend. I hand pick a few names I follow and I believe the puts will expire worthless. Worst case, I get to buy the shares at a massive discount! Remember if you have a small account focus on the SP500 micro contracts.
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All of my trades are documented live. I am the backtest.
Grand Total: 100% Win Rate on Sold Puts (Over $95k generated)
Strategy: Covered Strangles (Long Core + Short Strangles)
Instruments: ES & MES (S&P 500 Futures)
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Broker: Not all brokers have futures options - I use Interactive Brokers exclusively for low comissions and fast fills during the after hours trading. See My Full Options Wizard Guide Here (CLICK).
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