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Can you do that in excel? Although I was an Electrical Engineer once, I was never good at programming. Thank you for sharing the code.

Do you use greeks like Charm, Veta, Vana, etc.? I only know things like theta, delta, gamma, vega, and roh.

My idea is to sell deep OTM calls, that seldom get assigned. If they get close to the strike price, I will buy the call back. The idea is to get the appreciation of the underlying plus maybe an extra 1.5%.

As an advanced beginner, here is a basic question. Assuming the underlying is a good stock that you want to own, and you want to make some extra money on it, with covered calls, what is the best expiration date? My guess is selling weeklies. You get the most premium, however there are people...

I will check that out.

It certainly is. lol

Thanks. I think so. I am not going to bet the farm on options, so it will be a nice hobby. Hopefully one that is profitable.

How about DITM leaps on SPY then?

Anyway, I am risk adverse, so I will paper trade before committing real money to these strategies. I sold options before, and it took a lot of time, and then I made a terrible trade. One of those you sell a cash secured put, and it goes down 20% in an hour.

I have an ability to pick stocks. I know technical analysis and fundamental analysis. Can I beat the market, maybe not, or if I can, by 1.5% per year. Unless you have a very concentrated portfolio of 8 stocks or so, which you spend an enormous amount of time studying, it is hard to beat the...

Perhaps, the strategy should be used on SPY.

I don't use margin. To afraid of screwing up. I did not say I could pick market beating stocks. I said, you can pick stocks that will go up. It is actually very hard to beat the market over a long period of time for most investors.

Thank you. That is good advise. Options rule number 1. Have a good underlying.

Don't you think people can. First, stocks tend to go up more than they go down. Look at the stock market now versus 1970. So the odds favor you. Then you can look at things like ROE, P/S, P/E, earnings growth, sales growth, debt, and technicals, like relative strength, moving averages...

I read about an options strategy, where instead of buying the stock, (it has to be one you have researched and believe in), you buy a ditm leap on the stock with a delta of 100. The idea is that say the stock is 20, and the leap costs 12.00. Once you reach break even, every dollar increase in...

I was one of the less intelligent ones. I have a BSEE from Boston University. That is great being around such great traders.

Ok, I thought I read that it is populated by professional options traders. Well, they know more than me.

I appreciate everyone’s concerns about me losing money on options. I am pretty experienced in the market, although I don’t do it professionally. I sold about 100 CSP’s and CC’s. Maybe 80 CC’s and 20 CSPs. I ended up not being successful on my first go round. I have studied investing for...

No, 27 years experience.

I agree with you on that, but I don't think the concepts are as complicated. Making a living trading any financial instrument is super hard.