I wrote about what are options and how to make money with options. The next logical step would be to put “how to make money with options” into action and see how it goes.
Starting amount for the portfolio is $5,000 – that should be the minimum for a beginner in my opinion.
I wanted this portfolio to be from the first of the year. since we are 2 weeks passed that, I have to take some shortcuts. I am going to cheat and use my trade from 12/30/2020 as my first trade for this portfolio.
Beginner portfolio has been added to menu bar on top. There is going to be some changes on it as I am still trying to figure out the best way to show it. Right now I am thinking 1 table for each position and 1 chart to track portfolio total.
- Make 10% ($500) for the year overall
- Create “Monthly Income”
- Introduce new concepts when things go wrong
- Take profit at 50%
- If a put option is sold for $100. Plan is to buy it back for $50 instead of waiting till the expiration date.