The loop
Sell put. Maybe own shares. Sell call. Repeat.
You collect premium at every turn. The wheel only really hurts in a fast, deep crash, which is why sizing is the whole game. The book covers the rest.
- 01Broker approval for cash-secured puts and covered calls. Not naked permission.
- 02Pick a liquid name you would happily own. Broad index funds first.
- 03Sell a cash-secured put, about 0.25 delta, 30–45 DTE, limit near the midpoint.
- 04Manage with 50% profit and 21-day alarms. Never roll for a debit.
- 05If assigned, take the shares. Cost basis = strike minus premium.
- 06Sell covered calls above cost basis, about 0.30 delta, 30–45 DTE.
- 07If called away, return to cash and sell another put.
- 08Journal every trade. Review monthly. Boring is the edge.
Tracker
Stored on this device. Premium collected: $0
- No cycles yet. Paper-trade one month before a real dollar.