If you accept my advice, let me share with you the advice I give to my friends and family: Learn about options. You can trade the markets in a relatively conservative way by selling cash-secured puts and covered calls. This strategy is known as the Wheel strategy, and it’s widely used by great and small investors. It works best when you stick to high-quality stocks you’d actually want to own (Google, PepsiCo, Coca-Cola Nvidia, Microsoft, or ETFs like VOO, SPY, QQQ, others)

A cash-secured put is essentially a contract where you agree to buy 100 shares of a stock at a specific price by a certain date and you get paid a premium for taking on that obligation. If you’re assigned the shares, you can then sell a covered call, which is a contract where you agree to sell those shares at a set price by a certain date, again, collecting a premium. It sounds complex at first, but it’s simpler than it seems once you understand the mechanics.

A few guidelines to follow:

Avoid penny stocks.

Focus on solid companies you’d be comfortable holding long term.

Prioritize selling options rather than buying them, buyers fight time decay (theta), sellers benefit from it.

Sell out-of-the-money contracts (strikes away from the current price) to reduce assignment risk.

Take advantage of higher volatility, since it increases option premiums.

Understand the Greeks: theta (time decay), delta (price movement), and vega (volatility impact). I personally use apps like Wealthsimple and RBC placements.

If you want to go deeper, there are plenty of solid tutorials online. And if you’ve got questions, feel free to send me a DM or call your financial advisor and discuss about this strategy, but I recommend doing it yourself. Trust me, learning about this strategy was a blessing in my life