/biz/ - Business & Finance

>>23255240
On the options usually anywhere between 10-20k including the original premium on the 10 SOXL calls plus the appreciation of the SPXL calls I buy including the calls I sell against the SPXL which is the reason I buy the SPXL options rather than just buying more shares of something. So the order of operations is sell SOXL calls, use premium to buy SPXL calls, sell SPXL calls against those and use that money to buy FNGU. When everything goes my way I pocket the 10-20k. When things go south I start rolling the calls down and sometimes make even more on the options while I lose some money on the underlying.
However, should the underlying for SOXL, i.e. SOXX, go beneath its 200 day moving average, signaling the market is in a down turn, I will sell everything and then use the cash to sell cash secured puts on SOXL and collect premium that way. When the money in Robinhood gets to be uncomfortably high I cash some out and send it to my Webull where I run a similar strategy but with only a few hundred shares of SOXL and my futures account where I run a swing trading strategy on /NQ (pic related). My latest swing is looking pretty good there.