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I’m bullish
@iambullish
My friend forwarded me an email he got for a paid course promising to teach him “how to make money without buying any stocks/bonds/crypto…with limited space so act now”. After looking at the email and it’s attached video, all they are doing is selling cash covered puts so I told my friend I would teach him for free. Here is an example I just did. I just sold Coinbase 6/21 $237.5P for $5.09 when stock is at $237.94. If Coinbase drops below 237.5, my short put will get assigned. Since each contract is 100 shares, I’d need to put aside $23,750 cash in my account to earn that $510 put premium this week. If I get assigned, it’s equivalent to me buying 100 COIN at $237.5-5.09=$232.41/share so I would lose money if COIN goes below that but since I don’t mind holding COIN (cause it will pump sooner or later in a bull market), it’s ok.
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I’m bullish
@iambullish
This strategy works best on a stock that’s -volatile: so premium is high -right after a drop: so chance of it dropping more is smaller -mid/long term trend is up: so you wouldn’t mind holding the stock if you get assigned while waiting for a pump
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I’m bullish
@iambullish
Coin fell below my strike price at the end of day but news of SEC closing its ETH investigation against metamask will probably pump it Thursday (market closed on Wednesday in US). Low risk even I get assigned like I said 😀
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I’m bullish
@iambullish
This will probably get assigned on today’s dump. Which is fine, I will just hold the stock which will go back up sooner or later. Sold 1 more contract of COIN 6/28 $220P for $635 today and 40 contracts CIFR 6/28 $4.5P for $972.90 this morning. Big and fast corrections are best time to sell covered put during a bull market like I said.
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Verden
@verden
Good call bro, true friends need to be helped. The main thing is that he should appreciate your help and not forget to help you in the future if you have such a need.💪
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Sexyz
@sexyz
Hi, how a u?
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Ricky Wales
@singham
What if the price keeps going up, post you sell?
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riley🎭
@rileyl
That email sounds like a scam; you're better off learning from you!
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Mary Summers🎭
@lucyk
Great job helping your friend; real knowledge trumps paid courses!
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