To The Moon

Alright, friends, let’s dive into how I’m making some extra cash with cash-secured puts!

Curren$Palantir Technologies Inc.(PLTR)$   PLTR Put Contract (Expires 15/11)

Here’s what I did last week: I sold a cash-secured put on Palantir (PLTR) with a $57 strike price. Right now, PLTR is trading at $61, which is way above my strike price. So, unless PLTR suddenly drops below $57 by the 15th, this put option is likely to expire worthless. And that’s good news for me, because I get to keep the full premium I earned, which is $133

Max Profit for My Current Contract:

• Total Premium Earned: $133.24

• As long as PLTR stays above $57 by expiration, I’ll keep the entire premium, giving me a profit of $133.24. Sweet, right?

Potential New PLTR Put Contract (Expires 21/11)

For my next move, I’m planning to sell another put option on PLTR, this time with a $58 strike price. If I go through with this, I’ll collect a premium of about $1.14 per share, which means $114 for the whole contract.

Max Profit for the Next Contract:

• Total Premium Potential: $114

• If PLTR stays above $58 by the 21st, I’ll keep this premium too, adding another $114 to my profit pile.

Weekly Profit Analysis

So, adding both premiums together, I’m looking at $133.24 + $114 = $247.24 in earnings over two weeks. That’s like making around 2% weekly, which adds up quickly if I keep up this strategy. It’s definitely a good deal!

What’s Selling Cash-Secured Puts?

Now, let’s break down cash-secured puts for my BLINKs who might be new to this! Selling a cash-secured put means I’m agreeing to buy a stock at a certain price (the strike price) by a specific date if the stock drops to or below that price. In exchange for taking on this obligation, I get paid a premium upfront.

But here’s the “cash-secured” part: I set aside enough cash to cover the cost of buying those shares if it gets assigned to me. For example, with my $57 strike on PLTR, I’d need $5,700 ready in case I end up buying the shares. But if PLTR stays above $57, I won’t have to buy anything, and I get to keep the premium as pure profit!

Selling cash-secured puts is like earning income just for being willing to buy a stock I already like, and I get a bit of a “buffer” since the stock price can drop slightly without affecting my profits. It’s such a cool way to make money while waiting for the right price!

@MillionaireTiger 

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@TigerStars 

@TigerStars @CaptainTiger 

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Always do own diligence before a trade 

I am just sharing my recent moves and will continue to do it till it doesn't work