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So now I’m sitting on cash. TQQQ

By: Java

Kicked me out at $60 as I had a stop loss. Popped back up and has been $62-$67 since. Good for my son who kept his. Being antsy and losing my 45,300 shares, I sold a May 1 $50 put for $2.19. Few days ago. So that netted $95,000 and the price of the pit is now about a dime so that’s likely to expire into free money for me. I decided another strategy. Selling about 453 contracts. 45,300 shares at $52 this time. Goal is to get my $2 again. May 15 put. Will keep playing this game until I collect about $10 in put money on tqqq at which point I’ll put a buy order in and look to swoop in and buy anywhere south of $60. That way I’ll have already made $10 a share on it and have used my time to net effective drive that price down to $50 with the free $10. Figure I have to something sitting here and that’s it.
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