u/jeffdeansalem

Selling covered calls and cash-secured puts is honestly one of the most underrated ways to generate extra income from the stock market.

I’m surprised it doesn’t get talked about more in this sub. I think a lot of people still find the stock market intimidating, especially when options are involved, but once you understand the basics, these strategies are not as complex as they might seem.

Of course, there are risks, and it’s not “free money,” but compared to a lot of passive income ideas out there, covered calls and cash-secured puts can be a pretty practical way to generate consistent income if you manage your positions properly.

There are also plenty of tutorials and resources available now, so getting started is much easier than it used to be.

Earnings from 6 months selling Covered calls and Cash Secured Puts

I guess one of the major downside is that it needs some capital to get started. There is also risk so you should only do it if you know what you are doing. You can always practice first with paper trading

Didn’t realize QBTS had such a vibrant community on Reddit. Glad I found this sub!

A little background: after Jensen Huang’s infamous comments on quantum computing last year, I started getting more curious about the space. D-Wave’s CEO was one of the more vocal quantum computing executives who pushed back on NVIDIA’s view, which got me interested in learning more about the company.

Since then, I’ve accumulated around 3,000 shares of QBTS at an average cost of about $7.50.

I definitely see this as a long-term play, but I’ve also been taking advantage of the volatility by selling covered calls. Over the last 6 months, I’ve generated around $2.5K per month on average from CC premiums, which is not too shabby.

That said, the stock has been pretty volatile lately, so rolling some of those calls has definitely come with a higher cost than I’d like.

https://preview.redd.it/gtucznzhhc5h1.png?width=1600&format=png&auto=webp&s=37a1062504e1975adad70d52863a287d39daf860

Curious if anyone is doing the same on their holdings.

Wealthsimple has exploded in the past several years and Traditional brokers are in shambles. What does features does Wealthsimple has that made you switch or considered putting your money here?