Breaking the September Curse: Profits from Covered Calls on PLTR and SOFI**
**Breaking the September Curse: Profits from Covered Calls on PLTR and SOFI**
For years, September has been a notoriously difficult month for investors. Historically, the S&P 500 has averaged a 4.78% decline during this period. However, 2024 has been a different story, as I’ve managed to navigate the markets effectively, even turning a small profit this month by leveraging options trading.
Despite the challenging trends, my portfolio is up for the year. I have been successfully employing covered calls as part of my strategy, particularly on Palantir (PLTR) and SoFi (SOFI). I’ve realized some decent gains by selling covered calls on PLTR when the stock approached resistance levels near $30. This allowed me to capture short-term profits on market fluctuations while managing my exposure. With SoFi, I used a similar approach, lowering my purchase costs by selling both puts and covered calls. This tactic has enabled me to generate income from premiums while maintaining my long-term positions.
While August saw a minor setback with a small loss of SGD -269.69, I’ve rebounded slightly in September. My overall P&L ratio for the year stands at +14.70%, representing gains of over SGD 6.59K. This combination of strategic option selling and careful stock positioning has allowed me to sidestep the worst of September’s historical declines. @Daily_Discussion @MillionaireTiger @TigerStars
$SoFi Technologies Inc.(SOFI)$
In summary, the curse of September may not have fully disappeared, but I’ve broken through with steady profits by focusing on my options strategy. My positions in PLTR and SOFI, enhanced with covered calls, continue to be a cornerstone of my approach, helping me remain profitable during volatile market conditions.
@Daily_Discussion @CaptainTiger @TigerStars @MillionaireTiger @TigerTradingNotes
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cool，how can you make it?