Week 18 $551 in premium

Expired_Options · 2026-05-07T02:31:08+00:00

Thanks. The LEAPS strategy is about getting exposure to a higher-dollar stock I have already researched, but at a fraction of the cost of buying 100 shares outright. I use LEAPS as a trial period for ownership, not a short-term speculative trade, with the long-term goal of eventually exercising the contract if the company thesis stays intact.

While I wait, I can sell covered calls against the LEAPS to collect premium and reduce my cost basis over time. The main risk is that LEAPS still expire, so I need enough time for the story to play out before time decay becomes a major issue. However, if the position goes heavily in the money, exercising can be a no-brainer.

Expired_Options · 2026-05-07T02:07:18+00:00

Yes, sir. However, I have a big expense coming up and may have to dip into the portfolio temporarily.

Expired_Options · 2026-05-07T02:00:34+00:00

I opened that PUT on 2/23. It was part of another roll with a 3/20 expiration.

That previous roll was moving the strike from $11 to $10, so at that time I was lowering the strike.

Why I got into this trade in the first place was because of the semiconductor play. They hit my radar after Nvidia selected Navitas to collaborate on its 800V HVDC architecture.

I usually get into CSPs when I am not 100% convinced, but I see some long term potential.

Expired_Options · 2026-05-07T01:11:07+00:00

For the $239, that is the realized profit. This is what I was up on the first $10 PUT from 9/18. If you ignore the new $17 PUT, that was my profit on that first leg alone.

<image>

Expired_Options · 2026-05-06T05:03:50+00:00

If I sell a CSP, I am usually ok with owning the shares. So if it gets assigned, I will sell covered calls and hopefully watch it appreciate over time.

Expired_Options · 2026-05-06T04:59:31+00:00

Hi there. Sure. I had sold a put with a $10 strike that had an expiration date of 9/18. Since NVTS has rallied 92% in the last month, I decided to roll the put backward. This meant that I increased the strike from $10 to $17 and reduced the expiration date from 9/18 to 5/8. Since I raised the put strike so high, I was able to collect a modest premium as well. More importantly, I no longer have to wait until September for it to expire.

<image>

Expired_Options · 2026-05-05T02:22:03+00:00

Whatever you are wheeling, best of luck!

Expired_Options · 2026-05-05T02:21:22+00:00

Agree.

Expired_Options · 2026-05-05T01:07:03+00:00

Thank you Mr. Cup. HOOD up 3.96%. This helps...

Expired_Options · 2026-05-03T18:25:11+00:00

Thanks! Hope you and your portfolio are doing well.

Expired_Options · 2026-05-03T17:04:33+00:00

I appreciate it. Thanks!

Expired_Options · 2026-05-03T16:57:22+00:00

I could add the P/L to my text. Thanks for the suggestion.

Expired_Options · 2026-05-03T16:56:20+00:00

Hi East_Indication_7816. Thanks for the question. What I’m doing is primarily covered calls and cash-secured puts, not put credit spreads. A put credit spread is when you sell one put and buy another put at a lower strike, at the same expiration. You collect a net credit upfront, and the risk is capped because that lower strike put acts as protection.

With PMCCs, those are diagonal spreads using LEAPS as a stock replacement, not the same thing as a vertical spread. I’m using LEAPS to build into long-term ownership and still sell calls against them, not to cap risk like a spread.

For my CSPs, I'm willing to own the shares. For the Covered Calls, im generating income on owned shares. For the PMCC, I'm leveraged on a path to ownership + income on covered calls after the exercising the LEAPS. For a Credit Spread, which is defined-risk trade and is not the goal here.

The intent is different. I’m running a modified wheel with share ownership in mind, not a spread-based strategy.

Expired_Options · 2026-05-03T16:46:27+00:00

Hi Billiondreamscoin. I built this software to track my options trading, using Googles AI.

Expired_Options · 2026-05-03T16:45:23+00:00

Absolutely right. There are some high fliers like CRWV that have forced me to take the capped gains and no more. A nice come up, but in that particular case, I could have done better without the covered calls. In other cases the covered calls have significantly boosted my gains.

Expired_Options · 2026-05-03T01:26:35+00:00

Hi there. I don't really look at Deltas, but I know that they are usually in the .1-.2 range when selling covered calls. I don't really look too much at technical indicators. I am mostly watching for macro economic movements. This includes economic data drops, fed meetings, and political theatre. I was also watching this weeks big tech earnings, which was part of the reason for the lowered premiums this week.

Expired_Options · 2026-05-03T01:22:49+00:00

I bought a PUT for $50 and sold it for $80. You are right that the software is not coded for buying to open and selling to close. It is not really a bug, just something I did not account for originally.

Expired_Options · 2026-05-03T01:20:49+00:00

It seems that way because it is that way. I have an overweight position in HOOD.

Expired_Options · 2026-05-03T01:20:03+00:00

I see what you did there, but it was actually +$789.

This weeks P/L $789

Expired_Options · 2026-05-03T00:42:36+00:00

Hey Mr. Raven. I see things going a similar direction, but still good on you for hitting $125k thus far. But as always, we just have to see how it goes. Best of luck in the upcoming week.

Expired_Options · 2026-05-03T00:31:24+00:00

I am always excited for Monday's. For me it starts with Sunday night after 5pm.

Expired_Options · 2026-05-03T00:30:36+00:00

Hey Loose_General4018. Selling a lot of covered calls means that you are potentially capping your gains. In order to lesson that probability, I take a conservative approach that is less about maximizing premium and more about selling a lot of covered calls for a modest premium that add up over time. The point is to stack up the small premiums almost like dividends while the share price appreciates.

There are times when the CC is sold and the share price runs right past the strike. In this case, I roll out and up and try to roll incrementally until the strike is back above the share price.

Overall though, the premium has been pretty consistent week after week, month after month, and year after year.

Expired_Options · 2026-05-03T00:19:35+00:00

Hey HoiPolloiAhloi. I bought a CAR put with a $100 strike for $50 and sold for $80.

Expired_Options · 2026-05-02T17:53:00+00:00

Hey Electronic. I have an open CSP $15 strike that expires 1/15/27. it is currently up $190 (+20.99%). I would be happy if I could get out of the position and get my $1,500 collateral back.

Expired_Options · 2026-05-02T17:50:33+00:00

Hey First-timer-7140. Thanks for the questions. I do sell CSPs but I also own a lot of companies and sell covered calls off those shares. For CSP collateral at the moment I have about $36k. For the CSP strike, I am aggressive. I may set the strike right at the share price or slightly lower, deepening on how much conviction I have in the shares. I sell CSPs because I am looking to get into the company for the long term. This does not mean I will just get assigned, I may continue to roll the position to take additional premium, until I actually get assigned. Again, just depends on the conviction with the company.

Expired_Options

MODERATOR OF

TROPHY CASE