My son is selling uncovered options to pay for college tuition. Is this concerning?
My 19-year-old son has been making thousands of dollars a month. I was confused where he got his income from, so I asked and he told me that he sells uncovered (naked) call and put options of Tesla. He told me that people like to buy “lottery tickets” and that he’s acting like an insurance company that gets the upside. He says that this idea is “genius” and that the people buying these calls are “gamblers”. So far, he seems to be doing quite well. What should I do?