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.

Sharing crypto trading news and memes 📈

(I don’t respond to DMs, too many scammers. Please comment under my posts if you want to have a real conversation)

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.💪

He is one my best friends who has always been there for me so all good.