As discussed on Monday. We are going to use the TOS account as a more active account. Utilizing the wheel strategy and spreads to generate profits. In addition, we will look to roll the income from our TOS trading into longer dated investments as shown below.
We will use the Robinhood account to automate some investing over time to smooth out the average cost basis.
These are “naked” put positions and will require our being willing to buy 100 shares of each stock (and have the capital to do so)!
Sell to open: CCJ Dec 19th (monthly) 55.00 strike put
Credit: 1.38
and
Sell to open: DELL Sep 19th (monthly) 110.00 strike put
Credit: 1.65
We received income of $138.00 & $165.00 = $301.70 total after commissions.
We are using that income to purchase a few stock shares (using the money supplied from the market to build shares).
We bought 1 share of CCJ at 70.31
We bought 1 share of DELL at 129.40
We bought 1 share of UBER at 92.72
and that left with $9.27 left over in cash