To The Moon

The market correction, down 5% from its peak. Do you opt for a quick profit and exit or do you shut down the app? Despite a downturn, some individuals managed to secure impressive profits through options strategies, raking in $2,641 and $1,994 respectively. How did they pull it off? Let's take a closer look. Let's commend @BABAMood for his outstanding accomplishment, yielding a $2,640.92 return by selling SPY PUT🎉. And let's also applaud @Bioman21 for his remarkable achievement, securing a $1,993.69 return by investing in SPX calls! 🎉 From the showcased trades, on the left, we observe selling put contracts with a cost price of $0.27. As for the right, specific actions aren't clear; we invite @Bioman21 to share their options strategies. In the case of the left example, this strategy hinges on the belief that the $SPDR S&P 500 ETF Trust(SPY)$ won't drop to $491, or if it does, the investor is ready to buy the underlying stock at that price. On April 19, the lowest point was $493.86, meaning the contract wasn't exercised, hence yielding the premium. Judging by the profit amount, 100 contracts were bought.[666][666][666] In essence, employing a sell put strategy resembles setting a limit order. If exercised, stocks are bought at a predetermined price, with potential for gains from subsequent price increases. Alternatively, if not exercised, earning the premium remains viable. For more seasoned investors, a combination strategy involving buying underlying stocks through repeated sell put actions, followed by employing sell covered call strategies to capitalize on option time decay, is a common approach. Amidst the current market correction, what high-probability strategies do you have in mind? 🎁Rewards： Feel free to share your positions in the comment section for a chance to win Tiger Coins! If you've achieved profits from other potential stocks we don’t know, kindly share your trading strategies in your post, and remember to include the topic "Winning Trades". Hope you'll be the next one to make it onto the leaderboard~ 🧭 Share positions: