Generate income through options

[ssp729]

Hello everyone. I want a sincere opinion. Is it possible, starting with $15.000 making income with options, using iron condors and credit spreads? I saw on amazon a book claiming it´s possible to generate 3% to 8% consistently per month...
What do you think?

 

[dozu888]

No. Get a job.

 

[tommcginnis]

No. You would be rolling a die and winning with any face except a 6.
On 6, you get wiped out.
Wiped out.

 

[Scataphagos]

No "catch"? Gotta be a catch... otherwise everybody would be doing it.

 

[ssp729]

Yes, maybe it´s not possible... I didn´t buy the book yet

 

[ZBZB]

If the market trends then one side of your iron condor may become ITM and you will have to adjust taking a loss and rolling. You could define trend first then put on a credit spread against the trend.

 

[ssp729]

ZBZB, and to calculate the percentage, i need to see how much was ITM and how much i lost? Thanks.

 

[lightninboy]

From my experience, it may be possible to make good money with options in the long run, but the account balance fluctuates so much to drive you crazy.

 

[ZBZB]

ZBZB, and to calculate the percentage, i need to see how much was ITM and how much i lost? Thanks.

Papertrade, use www.poweropt.com smart search to find credit spreads or iron condors.

 

[ssp729]

Thank you ZBZB!