Opened yesterday for a credit of $3.22 per contract. Cash Secured.
With mostly cash in my portfolio, I think it's a good time to use the wheel strategy:
1. If TQQQ ends up above 55 at time of expiration - collect premium
2. If put in-the-money: start long on TQQQ
2.a. sell covered call on TQQQ
With mostly cash in my portfolio, I think it's a good time to use the wheel strategy:
1. If TQQQ ends up above 55 at time of expiration - collect premium
2. If put in-the-money: start long on TQQQ
2.a. sell covered call on TQQQ