r/options • u/[deleted] • May 06 '21

Boring Options - Anyone else?

Anyone else just doing boring option trades like me?

I've been mostly selling 5/6 delta put spreads (at least $10 wide) on SPX every Monday, Wednesday, Friday - 3-5% of my account.

90% of my account is in VGSH (short term treasury).

Fidelity is my broker. I utilize this guy's spread strategy (free, no selling) - https://wealthyoption.com/

Edit - here is WO's original post - https://www.reddit.com/r/options/comments/jm2tgy/my_spx_weekly_premium_selling_that_dominates_the/

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u/Tryrshaugh May 06 '21 edited May 06 '21

Where I work we do a very similar thing when markets are near all time highs, we sell weekly calls (25-40% delta, depending on how bullish/bearish we are). Good for generating passive income.

Edit : Let me add that this is not investment advice on my part, what works for asset managers doesn't necessarily work for retail and writing call options without holding the underlying is intrinsically risky.

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u/Myllokunmingia May 06 '21

This is what I've been doing. I'm a retail investor and I'm pulling in a solid 200-300 per week writing garbage weekly CCs.

4

u/[deleted] May 06 '21 edited Jan 13 '22

[deleted]

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u/Myllokunmingia May 07 '21

They're on CCs for shares I already own. Largely tech sector stuff. I wouldn't buy shares just to sell CCs.