Maybe you have been following my posts this year, if you have, you'll remember I made it a goal of mine to really ramp up my passive income sources. My momentum (and motivation) was derailed by my move to North Carolina, but after settling into a rhythm on my time, I am pleased with my results from the past few months.
Mostly from options trading, I made a goal this year to get back into options trading in a way that respected my risk tolerance and resources available to trade. I started selling options contracts in a paper account with E*Trade in March and in June made my first trade in my real account using $4,000.
Since then, I have grown my trading account to $14,500 and have made $1,400 in passive income since I have started trading consistently. I am very proud of not only how I've made this an income source, but also how consistent and easy it is to do.
Here's how I trade options.
Research a stock or ETF you want to trade.
Secure enough Cash to buy 100 shares.
Sell a put option to collect a premium. My first trade netted me $75 in premium.
Repeat until you buy the stock.
Once you own the stock, sell CALL options.
In total, I've collected over $1400 in income in the past 3 months. Just last week, I made $300 alone.
Obviously, this is a simplified overview of how to sell options contracts. If you are serious about making options an income source for yourself, check out my 'Quick Start' strategy guide here.
Happy Trading!
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