To The Moon

### Successful Strangle Strategy with Monthly Dividends

On July 20th, I implemented a strangle strategy on Global X NASDAQ$Global X Nasdaq 100 Covered Call ETF(QYLD)$ 100 Covered Call ETF (QYLD), which turned out to be highly effective. A strangle involves selling both a call and a put option at different strike prices, aiming to capitalize on premium income while managing risk. Here's how it worked for me:

#### Positions Taken:

1. **Covered Call on QYLD**:

- **Strike Price**: $18

- **Premium Received**: $0.15

- **Expiration Date**: January 17, 2025

- **Outcome**: This position provides income while capping potential gains if QYLD's price rises above $18.

2. **Sell Put on QYLD**:

- **Strike Price**: $17

- **Premium Received**: $0.05

- **Expiration Date**: August 16, 2024

- **Outcome**: This position generates additional income and obligates me to buy QYLD at $17 if the price falls below this level.

#### Monthly Dividend:

$QYLD 20240816 17.0 PUT$ 

In addition to the options premiums, I benefit from a $0.17 dividend received every third week of the month from holding QYLD. This consistent dividend adds to my overall returns and makes the strategy even more attractive.

#### Why This Strategy Worked:

1. **Income Generation**: The premiums from selling both the call and the put options provided immediate income. The covered call earned $0.15, and the put option added another $0.05. Together, these premiums represent a total of $0.20 per share.

2. **Risk Management**: The wide strike prices ($17 for the put and $18 for the call) provided a buffer against significant price movements. The ETF's price remained stable within this range, meaning neither option was exercised.

3. **Dividend Boost**: Receiving a $0.17 dividend each month further enhanced the profitability of the strategy. This consistent dividend income, combined with the option premiums, created a reliable and predictable return.

#### Conclusion:

My strangle strategy on QYLD worked perfectly, demonstrating the potential of options trading to generate steady income while managing risk. By selling both a call and a put, I maximized premium income and complemented it with regular dividends. This approach provided a balanced, income-focused strategy that proved successful, even in volatile market conditions.

Overall, the combination of option premiums and monthly dividends has yielded impressive results, showcasing the power of well-planned options strategies in enhancing portfolio returns.

@MillionaireTiger 

@Daily_Discussion @TigerStars