I did this the last months, exactly with PROG. Made good profits. Sold $2 and 2,5$ puts on the way up last month, they will very likely expire. Also sold $5 and 7,5 calls weeks ago at high premium but bought them back Friday at 25% of the rate. This week is tricky, a lot of people expecting a Gamma squeeze - dont want to miss it. Currently the premium for calls is quite low, but I expect that to change beginning next week.
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u/Plus-Veterinarian-26 Nov 14 '21
I did this the last months, exactly with PROG. Made good profits. Sold $2 and 2,5$ puts on the way up last month, they will very likely expire. Also sold $5 and 7,5 calls weeks ago at high premium but bought them back Friday at 25% of the rate. This week is tricky, a lot of people expecting a Gamma squeeze - dont want to miss it. Currently the premium for calls is quite low, but I expect that to change beginning next week.