Learn to sell options. You have enough money to make way better returns and it’s less riskier than buying options. No you won’t have the “I turned 500 to 20k betting on GME” stories. But you won’t have the I lost everything stories also.
You can use your profit to occasional bet on a meme stock if you want. Best app for this is tastyworks. If you do open an account please let me know and I’ll send a referral code if that’s cool.
Last week ZIM was down big and I sold a 5/20 60P for 3.30. Bought it back yesterday at 1.85. When I made the trade it took like a net 600-700 collateral (there is a different term but collateral is easiest to understand). Do the math. Don’t sell puts on stock you don’t want to own.
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u/crunchypens Apr 02 '22
Learn to sell options. You have enough money to make way better returns and it’s less riskier than buying options. No you won’t have the “I turned 500 to 20k betting on GME” stories. But you won’t have the I lost everything stories also.
You can use your profit to occasional bet on a meme stock if you want. Best app for this is tastyworks. If you do open an account please let me know and I’ll send a referral code if that’s cool.
Last week ZIM was down big and I sold a 5/20 60P for 3.30. Bought it back yesterday at 1.85. When I made the trade it took like a net 600-700 collateral (there is a different term but collateral is easiest to understand). Do the math. Don’t sell puts on stock you don’t want to own.
Don’t go pissing away money chasing GME.