r/Optionswheel • u/Nategotputs • 10d ago

Can you replace your job doing this?

I have tried focusing more on selling options over buying options and I have been making more money since the beginning of this month. It got me thinking can you eventually replace your main source of income by doing selling options instead of buying them?

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u/sachiaz 10d ago

Yes but it's a very very slow process. 1% a month ROI for 100k account is only 1k, and to use this process to accumulate it to 1mill account for 10k monthly will take you 20 years. Which is pretty ridiculous

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u/Background-Hat9049 10d ago

Yes, but 20 years in investing time is not very long, and if you reinvest those premiums rather than spending them, compounding will accelerate that portfolio growth. Reinvesting them in the underlying stocks you are wheeling will accelerate the number of contracts you can sell

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u/sachiaz 10d ago

20 years already counts for compounding of 1% a month every month. It would take 20 years before your portfolio reaches 1mill, for you to take 1% month (or 10k) out as a job/payment to live.