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Whirly315 t1_iy8vnib wrote

Reply to comment by Working-Ad-5683 in Thankful for $GEO by mannahosanna

no i mean on the company robinhood itself lol sorry i should have specified. ticker HOOD. people shit on them but their balance sheet is actually pretty strong and they were one of the first stocks to get crushed down to a fair valuation. i had my friend im teaching sell the $8 put on HOOD for the jan 20 expiration yesterday and he got like $55 for it… that’s a pretty great return on only $800 of capital

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Working-Ad-5683 t1_iy97tr7 wrote

Don’t you need to have like 100 shares to sell puts though

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Whirly315 t1_iya2yt2 wrote

you need to own 100 shares to sell a covered call. selling a put is the other side, you need enough cash to cover buying 100 shares if the stock drops below your strike price.

i really like adam from InTheMoney to explain things. here is his video on the subject https://youtu.be/r_rKof8IdfU

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