owning stocks and selling covered calls and cash secured puts
Lewes, DE and Windham, NY
Joined March 2017
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Let me tell you a little about who I am and why I'm here.
I'm not a professional trader. I'm not running a subscription. I'm just a guy who figured out a disciplined approach to generating income and building wealth through the options market, and I enjoy talking about it.
My approach is pretty straightforward. I sell cash secured puts on stocks I actually want to own at prices I'm comfortable paying. If I get assigned, I transition to selling covered calls against those shares and collect premium while I wait for price appreciation.
On higher conviction names where I want leveraged exposure without tying up full capital, I'll use LEAPS as a stock substitute and sell short-dated calls against them - the Poor Man's Covered Call.
Three strategies. One disciplined system. All centered around one idea: get paid while you wait.
A few rules I live by:
- Only sell CSPs on stocks I'd be genuinely happy to own
- Close positions at 50% profit before 50% of DTE - don't be greedy
-Know your earnings dates before you sell a single contract
- Size down in uncertainty. The next trade is always coming
- On very high conviction positions don't cover all shares
I trade across the market - tech, AI infrastructure, defense, growth names - wherever I see a setup that makes sense. Only thing I generally avoid is energy, I'm not a perma-bull or a perma-bear. I'm a premium seller looking for high IV, good technicals, and a price I'd be happy to buy at.
Why am I on X?
Honestly — the community. I've learned more from traders sharing real ideas in real time than from any book or course. I want to contribute to that. I'll share my actual setups, interesting charts, my trade updates, my wins, and yes my mistakes too. The good, the bad, and the rolled positions. I don't share every single trade or position but will give a good snapshot of what I'm in or watching.
No hype. No subscriptions. No "DM me for signals."
Just real trades, real thinking, and real conversations with people who love this stuff as much as I do.
Every once in a while I may throw in a post about travel, cycling, skiing, or food.
If that sounds like your kind of account — follow along. And if you're already selling premium, drop your setups below. I'd love to see what you're watching. 👇
@PLHstock
#options #cashsecuredputs #coveredcalls #thewheel #LEAPS #PMCC #optionsincome #tradingcommunity #stockmarket
Not financial advice.
Sorry guys - I took profit on the last piece of my $SPY puts hedge up 77%. This means we prolly go lower.
$SPY I still think a test of the 200 day would be ideal here and would tell us a lot about this market
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
$SOFI if this can deal with the 200 day we could see a very quick, bigger move up.
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
$NVO went right up to VWAP anchored to the March low and left a large upper wick. Lots more repair needed here, but today was a nice step in the right direction.
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
$NKE needs to get over this anchored VWAP level. Tried today but right back down to it. Clean over would be very constructive.
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
Wait what!? $NVO is up in premarket after reporting earnings. I need to call Schwab and make sure these numbers are right.
$PYPL nice push up into the gap. Ultimately I think another buyer comes calling in the coming months.
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
$NOW the 200 day and VWAP anchored to April lows are key levels that need to hold on this earnings dump
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
$SOFI it's looking like the street likes $SOFI earnings this morning!
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
I can't believe that I'm saying this @HatedMoats , but I think I'm going to start a position in $ADBE Will post in more detail once I figure out exactly how I want ot structure this one.
$NOW looking strong heading into earnings next week
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
$SPY needs to find buyers at this 760 level or that 200 day is going to start acting like a magnet.
Check out this chart I made with @TrendSpider share.trendspider.com/chart/…
Nothing has really changed since this post a couple of weeks ago. Still not bearish but definitely cautious until the chop works itself out. $SPY $QQQ $IWM $DIA $VIX
I am certainly not bearish and I an absolutely staying invested and will keep selling premium on my positions, but it seems like we might be in for some chop and potentially a bit of a pullback. There have been some great moves in names this week, but none of these moves are holding up. Leaders seems to be pulling back and starting to see some money rotate towards beaten down value. I am moving towards the higher end of my cash range and have put on some protection with $SPY March 750P.