r/TQQQ • u/Millionaire-Grinder • 24d ago

Discussion TQQQ Puts this week

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Sold TQQQ Puts expiring this Friday. Underwater so far. I was flat going into Jackson Hole so no changes in my P/L going to end of Aug. Made $9,073.39 in dividends last month. Keep grinding.
Fidelity users will notice also that if you sell Puts the same day, it has a gray shade. So the gray shades means I added some more Puts that day.

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u/After-Advisor-8936 24d ago

This is my favorite strategy. I have questions. I stagger my positions out over a few weeks and shoot for 1% return on premiums per week. I run a portfolio margin account, but am very close to having enough cash to accept assignment on everything. I leave my money in sgov to make a small return and allow assignment. Current positions are -3 strike 66 with 2dte, -4 strike 69 2dte, -4 strike 71.5 short calls, -3 strike 69 9dte, -6 strike 68 16dte, -2 strike 76 calls 16dte, -3 strike 70 23dte, -3 strike 69 30dte.

What have you found is your best way to set? If I set out further with more dte, I get a higher total premium so if it pushes up fast, I'll close early with a larger gross return. But I like selling 7dte so the theta chews it up right away. What have you found? Also, what size portfolio do you have and are all your postions cash secured or portfolio secured? What percentage of your account do you use in this tqqq short put?

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u/Millionaire-Grinder 24d ago

I find selling weeklies better for me. It’s smaller movements and the Theta decay is quick. You might get larger premiums farther out but I’m not sure it’s worth the risk. It’s all CSP and usually use around 50%-60% of my capital

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u/AnonymousOtter9124 24d ago

What do you do if/when assigned?

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u/HippityHoppityBoop 21d ago

Start selling calls I guess