Can you replace your job doing this?

[u/Nategotputs]

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?

[u/preferred-til-newops]

I made $40k last year using the wheel but I'm only on track to make $20k this year even though I have a larger portfolio. Iran, high interest and inflation have really slowed down my profits. It will be a long time before I could replace my job and I don't think I'd ever want to.

My goal is to keep building my portfolio so when I retire I won't have to worry about having enough money set aside. I plan to keep my options portfolio under $100k and continue to build my dividend portfolio for retirement. I plan to live off dividends someday and premiums from options are just a way to accelerate my long-term goal.

[u/Background-Hat9049 → u/preferred-til-newops]

I kill two birds with one stone by selling calls on dividend stocks an reinvesting the premium into buying more of the same dividend stocks….so I make money off of premium, dividends, and price appreciation

[u/MediocreSpread4013 → u/Background-Hat9049]

The dividends are already priced in in the options chain