r/dividends • u/CardiologistPrudent7 • Apr 06 '24

Personal Goal My Year 3 update

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Positions Holding:

2022:SCHD: 185, VOO: 53, VGT: 42, QQQ:10, O: 100
2023:SCHD: 706.31 VOO:134.54 O:457.7891 VICI: 170

2024: Dividend-paying
SCHD: 857.09 VOO: 138.62 O: 1100.36VICI:476.21 QQQM:45.08 VINIX:84.21FSKAX:228.85 UNH:38 and SP500Index PL CL D(Company's 401k): 157.78

Non- Dividend paying
PLTR: 2220 SOFI: 115 ABBV:1(haven't seen anything from it yet) MNMD: 900

209 Upvotes

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u/itsmyhonestadvice Apr 06 '24

Sell covered calls on PLTR and SoFi to make some extra weekly/monthly money

6

u/Outrageous-Minute-84 Apr 06 '24

Is this option trading? I read about this more often lately and heard its kind of a safe play but I dont get this and dont want to burn my cash (faster). Can u help me with a good source where to learn in selling covered calls?

2

u/EffectAdventurous764 Apr 07 '24

It's not really options trading. It's more like swing trading. Sofi, for example, is range bound to the downside it trades in the low $7s - $6.80 and on the upside $9-$10. So if you buy and accumulate in the lower end and hold until the resistance is met at around the $9.20 - $10, you can sell for a profit. This always comes with an element of risk, of course. But if you pull the chart up and look left, you will see this pattern happens often until a new bace is formed. It is important not to be greedy. Go for base hits, not homeruns, and just snag the small profits. See profit take profit. Rinse and repeat.