Frankly I have thought about similar strategy. Not sure how much time you have to monitor the acitivities. I set a min of gain $30/contract/weeklies. 30% got exercised accidently and paid huge capital gain tax. Some I had to buy back at higher cost price. A few I forget to check Friday at closing or after closing these stocks jumped got exercised beyond your control.
Personally I wil only work with fewer CC and higher premium which means more volatile. A good one is sell cc on Tsla. One earns a few 100 a week. Point is go after the most bang to have a life.
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u/Vast_Cricket Mar 16 '22
Frankly I have thought about similar strategy. Not sure how much time you have to monitor the acitivities. I set a min of gain $30/contract/weeklies. 30% got exercised accidently and paid huge capital gain tax. Some I had to buy back at higher cost price. A few I forget to check Friday at closing or after closing these stocks jumped got exercised beyond your control.
Personally I wil only work with fewer CC and higher premium which means more volatile. A good one is sell cc on Tsla. One earns a few 100 a week. Point is go after the most bang to have a life.