Terry Tan
2023-11-21
I opened 7 lot(s) $SOXL 20231222 18.0 PUT$  ,Best time to sell put when market is down. Aimed for slightly more than 2% monthly ROI to sell my put options using limit order, triggered and USD273 premium collected.


If you are following this order, try to only use 1/3 of your total available cash as your first bullet. Keep your 2nd and 3rd bullets if market worsen in the near term.

SOXL PUT
11-21 23:28
US20231222 18.0
SidePrice | FilledRealized P&L
Sell
Open
0.39
7Lot(s)
--
Closed
Semiconductor Bull 3X Shares
Modified in.2023-11-21
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Comments

  • KittyBruno
    2023-11-24
    KittyBruno

    Have you considered using stop-limit orders as well, or do you prefer limit orders for this strategy?

    • Terry Tan: 
      I don't use stop limit cause I am only selling covered put or covered call.
  • ChristKitto
    2023-11-24
    ChristKitto

    How do you adjust your strategy when the market doesn't meet your expected ROI? Do you have any backup plans?

    • Terry Tan: 
      My strategy has always been working for me.
  • LeilaLynch
    2023-11-24
    LeilaLynch

    When deciding to sell put options, how do you determine the best time to sell when the market is down?

    • Terry Tan: 
      I use my first bullet when S&P is down more than 1.5%. If first bullet is exercised, I will use second bullet to aim for 15% to 20% down from previous exercise price. and so forth for third and last bullet.
  • Marialina
    2023-11-24
    Marialina

    Can you share some insights on how you decide when to use those bullets?

    • Terry Tan: 
      I use my first bullet when S&P is down more than 1.5%. If first bullet is exercised, I will use second bullet to aim for 15% to 20% down from previous exercise price. and so forth for third and last bullet.
  • Terry Tan
    2023-11-21
    Terry Tan
    Great ariticle, would you like to share it?
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