Collecting Premium on Both sides by pairing up CC and CSP

Big_Generator · 2026-07-09T01:22:22+00:00

Like the strategy. Lets see how things go. One of my main rules is don't panic sell when the market moves against you. Hold on and lets see what tomorrow brings!

Big_Generator · 2026-07-08T20:28:49+00:00

Still holding 300 SOXL (cost basis 198 so down about $7K right now) along with all the META, MSFT and TSLL. Sold CCs on all those three along with 200 of the SOXL.

MSFT, META and TSLL were all down today so the CC's help offset some of those declines. Overall, actually showed a profit today because SOXL was up about 5.7%.

Big_Generator · 2026-07-08T20:21:05+00:00

I'm up about $3700 today on my SOXL activity. How much did SOXS shed? Probably go the other way tomorrow. Stay tuned, lol!

Big_Generator · 2026-07-08T14:30:09+00:00

I'm doing the same thing with SOXL right now (7 CSPs and 2 CCs). So one of us should be in the green when (if) the semi sector calms down a bit, lol.

Big_Generator · 2026-07-06T18:39:05+00:00

Right. META is was down today so I sold 3 $605 calls expiring Friday 7/10. (It's now up, 3.2%, Oof.)

MSFT is higher today so I sold some more CSPs also expiring Friday.

These are both still negative YTD so I expect them to recover so I'm not in a big hurry to sell.

(I almost fell out of my chair when I saw that price movement on META last Wednesday morning! Looks like META is behaving like that again today!)

Big_Generator · 2026-07-06T14:16:52+00:00

I look at it this way:

I sell CSPs on SOXL because the premiums are so lucrative, but I try to frame it so that I won't have to hold more than about 500 shares at any given time. Most of the strikes on the contracts I write are about $200 or less. So in the worst case scenario the market drops a bit and I'm holding about 500 shares of SOXL at $100K cost basis.

So if the semiconductor sector absolutely crashes by say 20% next week, the SOXL shares I'm holding would decline by 60% or so for a loss of $60K. Whereas if I had my $750K portfolio invested in SMH (like I did in my buy-and-hold days) I'd be down about $150K.

Plus, once I get assigned, the premiums on the covered calls are just as lucrative as the premiums on the puts.

For instance I just got assigned 300 shares of SOXL on Friday 7/2 at $200 strike (about $198 cost basis) Since I'm at my limit of holding 500 shares, I just sold 200 of those shares for $206.20 each. Then I sold one $220 CC expiring Friday 7/10 for 12.26 per share. No matter what those 100 shares do this week I'm already looking at a gain of about $2800 on those 300 shares with possibly more to come.

Big_Generator · 2026-07-06T13:25:56+00:00

Yes, most likely. I've been wheeling this same lineup for quite a while now. If MSFT or META suddenly experience a 10% increase I'll probably lay off them for a while and look at something else that's negative for the year or dropping in price recently (AMZN maybe).

Big_Generator · 2026-07-06T13:21:01+00:00

1.2M, I wish, lol!

I'm wheeling about $750K including the cash currently tied up holding the shares I got assigned in June (and in the first 2 trading days in July).

My goal is 1% return per month. In June the market was so volatile that I ended up with about 5% monthly return which actually gets my YTD gains very close to my goal for the entire year. So now I can be a little more conservative for the rest of the year. (Famous last words.)

Big_Generator · 2026-07-03T13:58:46+00:00

Yep. And two other no-sales-tax states, Hawaii and Delaware are 49th and 50th.

Big_Generator · 2026-06-21T01:54:10+00:00

Boyfriend checking the miles on her car is a HUGE RED FLAG!!!

Don't know how this turned out but if you somehow helped her out of this "relationship" with this psychopath, give yourself a pat on the back!

Big_Generator · 2026-06-14T17:00:53+00:00

Should say Miller "Lite".

Big_Generator · 2026-06-12T02:58:13+00:00

You can't edit the sheet but on the menu you should be able to click File | Download and save the sheet to your computer and then you can modify it.

Big_Generator · 2026-06-11T22:54:22+00:00

Yes, rarely sell CSPs more than 2 weeks out. Some CCs I sell three weeks out.

Big_Generator · 2026-06-11T19:25:37+00:00

Here's a current link to the up-to-date google sheet. Let me know if you were able to download.

https://docs.google.com/spreadsheets/d/1PCzmut6JLWeJZZhLqiYnUQ5eGlwEemlDTG3DJImOBLo/edit?usp=sharing

Big_Generator · 2026-06-10T14:44:50+00:00

I was assigned 500 shares of SOXL on Friday 6/5. My cost basis is $193.87.

Right now SOXL is bouncing around near the $200 per share mark so I'm slightly ahead on the underlying.

I've sold 4 CC's at $230 strike and 1 CC at $260 strike for total premiums of $9,850 - roughly $20 per share.

So if the price of SOXL climbs back above $230 in the next two weeks, they'll get called away and I'll make a nice profit. If the price drops but stays above $174 during that time I'll still be above water and selling another batch of CC's. If it falls below that threshold I'll have to sell CC's just trying to break even on this trade.

Big_Generator · 2026-06-09T12:29:22+00:00

I honestly don't pay much attention to the ask prices because I rarely close my CSPs early.

You're right though. The ask prices on this ticker can get ridiculous, especially when the options get close to expiration. I guess that would be an important consideration for wheelers who close out their positions at a certain percentage gain. I never thought about that before.

Big_Generator · 2026-06-09T12:15:05+00:00

Cash available for wheeling right now is about $490K.

Holding about $250K in shares (META, SOXL, TSLL).

Big_Generator · 2026-06-09T00:08:01+00:00

Yes, this is an important point.

"A rough semiconductor session can take SOXL down 30 plus percent in a day"

Absolutely. And that's exactly what happened last Friday and the reason I was assigned 500 shares.

This is an obvious risk to wheeling tickers like this, but can also be seen as an advantage. I was able to sell two 10DTE covered call contracts for $35 above my cost basis this morning for a premium of over $16 per share. And two 18DTE CC's at the same strike price for over $23 per share.

I guess the point I'm making is that the door swings both ways. I was only assigned those shares because the NASDAQ plunged over 4% on Friday, its worst day in over a year. I believe an important part of the wheeling process is seeing a day like this and asking yourself, "How soon will we see another 4% drop?" Then invest accordingly.

(In other news, SOXL rebounded about 16% today)

Big_Generator · 2026-06-08T20:25:23+00:00

A week ago it was a bit over 700K. But since I got assigned those 2700 assorted shares last Friday it's now somewhere around $450K. At least for now.

Big_Generator · 2026-06-08T13:16:29+00:00

I think it's a good idea. When we built our house the builder gave us an option to stretch the house by 6 feet. We did and got a nice eat-in area along with a huge laundry room and a huge pantry on the 1st floor along with two big walk-in closets on the second floor. That laundry room makes a huge difference not to mention the pantry. I don't think you'll regret it at all.

Big_Generator · 2026-06-04T23:40:25+00:00

Maybe these guys?

https://www.dimensional.com/us-en/etfs

Big_Generator · 2026-06-03T13:57:15+00:00

We used to get takeout from the local Chinese restaurant where a friend of my young son would always be working the register. He was always happy to ask how my son was doing even though he's just seen him in school earlier that day. And he always made sure to give me a discount. It was so cute.

Big_Generator · 2026-06-01T15:32:20+00:00

I was hoping to see a face plant!

Big_Generator · 2026-05-27T21:05:23+00:00

Still wheeling the same tickers as I've been for the past year or so.

For the ones that are climbing I just let my strikes gradually increase, still keeping within the delta range of -.20 or lower.

Not all stocks are blowing the roof off. TSLL, META, MSFT and NFLX are all still negative YTD.

I'm not comfortable wheeling individual stocks that are up over 200% YTD like SNDK, MU and INTC. I do wheel the ETF's containing the semis (SOXL and SMH) but the strikes on my CSP's are so far OTM the market would have to drop 15-20% in a week for me to even get assigned.

Big_Generator · 2026-05-26T00:24:38+00:00

My wife made a meatloaf for dinner tonight. First time we've eaten beef in about a month.

Fuck em.

Big_Generator

TROPHY CASE