/biz/ - Business & Finance

I already have 100 shares of QQQ, so what if I traded options on it? I can buy 100 more if I get assigned on a put.

Ex) Sell 6/26 $250c @ +$166
Sell 62/6 $240p @ +$97
$237.37 ~ $252.63+ = I can make a profit even if shares get called away and I have to rebuy, or if I'm forced to buy shares at 240.
Best case scenario I make 1.06% return when the stock stays between 240-249. Of course stocks usually only go up so maybe the call strike should be higher.

Isn't this just like a pussy safe play? Unless there's safer plays that can net me 1% weekly assuming things go well.

And even if I'm forced to buy more shares or my shares get called away, I'll just keep doing it on a stable ticker like QQQ or MSFT since eventually there will be more profitable weeks. And I'm consistently buying more index like QQQ so I should be able to write more and more options as I gather more stocks.

I don't know, does anybody here even do this shit? I know 1% gains are shitty for most people but I'd be fucking happy with an additional $300 per week.