Selling options

20 posts / 0 new
Last post
#1 Tue, Dec 31, 2019 - 10:41pm
Connella
Offline
Joined: Oct 6, 2019
9
13

Selling options

I am relatively new to this site and could not find a dedicated options thread, so I am starting one to see if there is any interest. I realize that most people here are probably stackers, but why not make some extra fiat from our knowledge of the PM markets?

I primarily trade ETFs like GDXJ, GDX, GLD and SLV due to their high volume and liquidity. I only sell options and never buy them (except in a spread) because I want to profit from time decay. When I trade in my IRA, I trade cash-secured puts and covered calls. However, in my taxable accounts, I also trade vertical spreads (bull-put or bear-call credit spreads).

In our current market environment, selling cash-secured puts on the above securities as a bullish strategy is my favorite approach because the seasonal pattern for gold is up through the end of February. However, PMs and mining stocks are overbought right now, so I also have some short-term covered calls in place as I wait for a possible pull-back before selling any more puts.

If anyone would like to discuss option strategies in more detail, please post.

Become member and subscribe to Turd's Vault

Contribute

Donate Shop

Recent Comments

by canary...ex-ancient Egyptian, 4 min 22 sec ago
by GoldHermit, Sep 16, 2021 - 11:40pm
by Dr. P. Metals, Sep 16, 2021 - 11:21pm
by BigSkyGuy, Sep 16, 2021 - 11:18pm
by GoldHermit, Sep 16, 2021 - 11:04pm
randomness