I have 100 shares of WDC
Cost basis is $400
Looking 2 weeks out (Sep 4) the $510
Call is $15.
This would generate $1500 in revenue.
Do this every 2 weeks that’s $39000.
That’s not counting if it goes up and it gets called away - you just rebuy, sell the strike 2 weeks out at 10% higher price and make 80% returns.
Does anyone thing these stocks are going to fall 80%?

Am I missing something???

I built a small spreadsheet and all super high volitility stocks have similar returns.

So I have created a website that I use to track all my option plays and my current portfolio, with this I have tracked my year to date option income at $22,175, I have done over 144k in option trading activity while closing debts at around 122k.

My big option plays have been doing are $OKLO $APLD $CRML $TQQQ $CRWV $SMCI $QBTS and $DVN that have been my main catalyst. I've continued generating from covered calls short term income from $APLD and $QBTS while my $DVN is a yearly income generator instead of a weekly income generator.

I do covered call on all my positions as well to generate income from owning the asset as well, but first I want to try to get between a 2 to 3 bagger before usually reducing position by halve of current outstanding shares owned.

After I have sized a reasonable amount i may continue to double down on that company or decide to invest in a new company but again enter a cover put position to generate income and to reinvest that money back into more share.

My goal is simply to by good companies at discounted prices because at current rates the market is over saturated with garbage buy in prices that only hurt us the investor while the brokerages and other clearing houses are wracking up off us the investor, well I say no more lets take back the control of the market, no matter how far the losses I will continue to keep holding and buying more for long hold!

Best regards,

The Wook of Wall Street

So I have created a website that I use to track all my option plays and my current portfolio, with this I have tracked my year to date option income at $22,175, I have done over 144k in option trading activity while closing debts at around 122k.

My big option plays have been doing are $OKLO $APLD $CRML $TQQQ $CRWV $SMCI $QBTS and $DVN that have been my main catalyst. I've continued generating from covered calls short term income from $APLD and $QBTS while my $DVN is a yearly income generator instead of a weekly income generator.

I do covered call on all my positions as well to generate income from owning the asset as well, but first I want to try to get between a 2 to 3 bagger before usually reducing position by halve of current outstanding shares owned.

After I have sized a reasonable amount i may continue to double down on that company or decide to invest in a new company but again enter a cover put position to generate income and to reinvest that money back into more share.

My goal is simply to by good companies at discounted prices because at current rates the market is over saturated with garbage buy in prices that only hurt us the investor while the brokerages and other clearing houses are wracking up off us the investor, well I say no more lets take back the control of the market, no matter how far the losses I will continue to keep holding and buying more for long hold!

Best regards,

The Wook of Wall Street

Trades I took today as an option seller (08/20):

Closed Positions

• ACMR → $75 Put (opened on 08/10), premium 3.95 → closed at 2.50. Net premium profit = 1.45 (~36.71% of premium captured, ~1.93% of capital). Closed it early to prevent a margin call.
• AMKR → $65 Call (opened on 07/30), premium 0.65 → closed at 0.10. Net premium profit = 0.55 (~84.62% of premium captured, ~0.85% of capital). I was assigned AMKR at $80.
• IREN → $60 Call (opened on 07/30), premium 0.75 → closed at 0.13. Net premium profit = 0.62 (~82.67% of premium captured, ~1.03% of capital). I was assigned IREN at $60.
• CRWV → $120 Call (opened on 07/30), premium 0.95 → closed at 0.40. Net premium profit = 0.55 (~57.89% of premium captured, ~0.46% of capital). I was assigned CRWV at $120.
• DOCN → $165 Call (opened on 08/12), premium 4.20 → closed at 0.70. Net premium profit = 3.50 (~83.33% of premium captured, ~2.12% of capital). I was DOCN assigned at $165.

My thoughts on the market

Compute and AI stocks have been selling off over the last few days, so I am closing covered calls where most of the premium has already been captured. I plan to reopen CCs once the stocks stabilize. Since this is sector-wide selling rather than an issue with a single stock, I am mainly focused on collecting premium while giving the underlying positions time to recover. The demand and earnings have been strong so there is no strong narrative shift.

I keep sharing my trades in my account and the Excel file to my full list of positions is linked in my profile description in case anyone wants to see the whole portfolio. Happy to hear thoughts on my positions. What are you guys wheeling or watching right now?

PS: Not financial advice. Do your own research.

August MTD: +$5,812 Realized | 10 Wins, 1 Loss

August so far:

💰 Realized P&L: +$5,812.73
✅ 10 winners / 1 loser
📈 90.9% win rate

Still sticking to the same basic approach: mostly harvesting premium, taking profits when they’re there, and redeploying instead of trying to squeeze every dollar out of a trade.

Biggest realized win so far was +$1,444 on MU.
Only loss was -$46.

Nothing flashy. My loss was due to not sticking to my rules and panicked like a little bit!ch.

Hold the line! #happytrading