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It can be fun to write something from the (low level) ground up as it teaches you the inner workings of things (I have done it too :p). But in the end it's similar to data structures and algorithms like implement a quicksearch or a hashtree, apart from job interviews you're better off just using...

Indeed, I don't count the dividends. Roughly, with SPY dividends around 1.5% and statistically maybe 50% of the time doing covered calls rather than cash-covered puts, that would add an additional 0.75% per year to strategy's profit. Not much but I'd say enough to cover the cost of commissions...

I'll give it a more thorough thought and come back. Surely it's not a trivial problem or it would have already been solved by now.

Obviously he made a typo on "covered" calls but inadvertently introduced an interesting pun. I mean if there's no such thing as covert calls yet then it ought to be! In fact I'm fairly sure they already are a fact of life and are amongst the most profitable operations one could do with options...

Based on what you're looking for (supplement retirement income with low risk, would be happy with a 20% return) and experience (have a trading account and have been trading stocks for years), I think your approach is not unreasonable: learn from various sources and then use your own judgement...

A software that I developed myself (based on experience of =~ 20 years working as a software developer and ~= 10 years as a quant for an options-market-maker). Will soon either open source parts of it or offer for free the end product (compiled application). There's also a monetization path I...

I already know that but thanks for pointing out anyway. It's still too expensive for "Robinhood-sized" accounts - these guys have an average of $2k-$3k of capital it seems. And I think it's a highly artificial problem, caused by technical inability to solve a simple problem: how to quote...

I develop in Java, both a backtester and live auto-trading system using Interactive Brokers. I know what you mean. I still program in C++ at my job and sucks massively and perhaps that's why I have a job. Anyways, at least I'm paid to get tortured, but why on Earth would I do that to myself by...

I've no idea what "flipping level" means. The historical DAILY data I have, same as what you get for free on YahooFinance, lists open, close, low, high and adjusted (for splits and dividends). I use close-to-close in my calculations. Have experimented with close-to-open and then open-to-close to...

Or... factional will become THE NORM. Not just fractional quantities in both stocks and options but also allow quotation of arbitrary strikes instead of today's preset values. Had a thread a while ago where a stock capitalized at $50B (so not really penny) was trading at $6, while option strikes...

Stemming from the "1% rule" (1% of the users of a website add content, while the other 99% of the participants only lurk): https://en.wikipedia.org/wiki/1%_rule_(Internet_culture) ... "Most of What You Read on the Internet is Written by Insane People" :

2000 years of progress:

Can neither confirm nor deny it :)

I'm showing off here since it's pretty much all I can do with the thing. I bought myself a present for Christmas :) A ZX-Spectrum compatible, Romanian-made, from around 1990, with floppy disk interface and CP/M compatible. Paid $500 for it, probably not worth it but can't put a price on...

I tested a very plain boring wheel, as follows: 1) Sell a covered OTM call at 1 month maturity with 30% probability of getting in the money (so this means also buy 100 shares of stock). 2) If the stock stays below the call strike at option maturity, goto #1, else goto 3. 3) Sell a cash covered...

Well the backtest period is 2002-2016, so the crash is the middle on SPY and QQQ is around 2008. You can see how the strategies fare before and after crash.

Other batch of wheel vs my own:

I've backtested the wheel strategy and while not bad, it's not that great either especially when market goes down. In a wheel strategy you sell naked puts (cash covered), so when stock goes down you lose. Or you sell covered calls, hence you hold the stock, again losing money when stock price...

OK so zero sum game means the stake is split among players at the table. Think you have 10 participants at a game of poker, each wages $100 of capital on the table, overall there's $1000 of capital. At the end, there will still be $1000 of capital but the allocation of it to the 10 players might...

F.. off tawave. "Just because certain things, or life in general, didn't work out for you". He's ASS-uming that things didn't work out. That makes him an ASS.