If you know what covered calls are then you would know the downside on them is absolutely not infinite and that it is one of the best ways to hedge or guarantee some income on a position.
Explain to me how selling a covered call has infinite downside? Lowering your cost basis on a stock like aapl and collecting premium is totally infinite risk lmfao. Get educated and stop lying. No one in the financial world is foolish enough to think there is infinite risk in selling covered calls.

And no where did I mention buying options lol. I quite clearly said the opposite.

Lastly, why do some of you weirdos want to bring up other people's' wealth status on the internet. What is rich to you and rich to me can be completely different. Is a net worth of 2 million rich but zero cash flow rich to you? Bringing up wealth in these types of situation is a completely amateur thing and quite frankly evident of someone who must be pretty foreign to wealth. Not to mention it is very uncalled for, a winning strategy in the stock market is a winning strategy in the stock market, no more no less. If someone utilizes these strats with a $10,000 account, they will most likely never get "rich" by anyone's definition of the word. Someone with a 200,000 brokerage account could however utilize theta strats to secure income of a few thousand a month. Regardless, the hallmark of a good trading strategy isn't accumulated nominal wealth, but rather percentage of net positive positions.

A millionaire on wsb can give you advice that will have the Robinhood police knocking on your door for a margin call, whereas a person with only a 5 digit brokerage account could give advice that has made them 90% profitable.

well first off you came across as a moonboy and pretending it's anything but gambling will get called out here

"Selling options to gamblers is easy money."

then you followed that up with

"Nah, if u even barely manage risk decently its difficult to get burned with selling contracts"

most posters here are not serious investors and even have trouble picking a broker yet you expect them to start using exotic hedging strategies. it's laughable to think this

o yeah and don't wiggle out of this with semantics that you're not recommending BUYING options you're merely recommending SELLING them! you're so clever bro!

when i posted "downside risk" you also took it incorrectly

first off i was talking about the derivative, not the underlying asset. and then you also thought downside meant down directionally which isn't even what i meant. glad you figured that out but now you're trying to make it seem like I didn't know what you meant when really it was your lack of reading comprehension

regarding your tangent on wealth and all that, you again missed the point. i was simply letting you know that your assumptions about me are wrong. if anything i'd want you to know that i come from a traditional finance background while also living that exact degenerate gambling lifestyle you aspire to.

tbh i'd rather be an a****** here than have someone in this thread lose $1,000 on some retarted TSLA play your "gang" wants to recommend. especially in these uncertain times

anyway you're clearly triggered so i wish you luck. seriously you will need it lol

Thanks bro, have a nice day :)

crypto dead ass changed my life for the better

if we see another massive crash i might have to scoop up 100 spy shares and start selling covered calls on that . Imagine getting spy at 217 this year .

This next wave up is going to feel surreal

S&P dying, the f*** did trump tweet

TEAM and JKS keeping me green

Dam

brehh I 70x my portfolio since March this s*** fye

I see mad people mentioning JKS

just the rug of stimulus slowly being slipped lol

@0 hmu on discord when u on

the bird has landed in the nest
the sun is rising in west
the macaroni is boiling

bitcoins

options traders in 2020 are a hilarious bunch they think they're so smart when they're literally crabs in a bucket getting manipulated by the real market makers but let that fool with the jeremy meeks avatar figure that out just like every other smart genius redditor

cointelegraph.com/news/ethereum-2-0-deposit-contract-to-launch-this-week-consensys-dev

im so mad i bought like 5 PTON in june and then watched it grow but didnt average up. lol

businessinsider.com/doj-google-antitrust-case-revealed-2020-10

ohhhhhhhhhhhhhhhhh

CRASHCRASHCRASH

oh yeah things are happening

might finally jump on the nio train

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