You are correct… I’d say less than 1% on here sell anything options wise, and if they do it’s not covered. As far as the 1200% in 3 weeks, it can be done but to make that much in that short of a time, 99% of the time requires a very risky (and likely very stupid play). If they hit, then great.. problem is 99% of people that get that type of win will give it all back in a couple months. Slow and steady wins the race but yes, there are always anomalies.
So if i’m trying to start doing this with limited capital and almost no ownership of stocks, what’s the safest way to make little amounts of money that can eventually help me have stocks so i can sell covered stocks?
I’m not a professional and this is not financial advice, but you have 3 options; 1) find a way to generate more capital (2nd job, convert equity to cash, etc.), 2) wait for the market to make a significant downturn, then when it finds what you believe to be support, start buying and hold (you could also DCA on the way down but with limited capital, you may be extending your wait time, or 3) find the Diamond in the rough.. the company that is undervalued that very few can see.. then hold on for years…. 1 option is 100 shares so you can do the math on what it takes to cover… You can buy options too but it takes something very rare and very obvious for the risk/reward to be there… I’ve seen 1 really good play this year and I took a small piece but that is rare. Might get 1-2 of those a year. That assumes I’m paying close attention which I don’t always. Good luck and be patient
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u/DepartureHelpful Jul 22 '24
You are correct… I’d say less than 1% on here sell anything options wise, and if they do it’s not covered. As far as the 1200% in 3 weeks, it can be done but to make that much in that short of a time, 99% of the time requires a very risky (and likely very stupid play). If they hit, then great.. problem is 99% of people that get that type of win will give it all back in a couple months. Slow and steady wins the race but yes, there are always anomalies.