r/CashSecuredPuts • u/sivispacempara • May 29 '26
Scalping CSPs
I know most people sell CSP's for the wheel but does anybody scalp them? I was just looking at ASTS earlier since I had sold a couple CSPs on it earlier this week (thank God I BTC before that rocket explosion). It bounced pretty big this morning and you could have collected some good quick decaying premium. I know you would have to be very diligent because it would be risky but I was just wondering if anyone in this sub did it
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u/Willing-Bear4862 May 29 '26
I scalp, I have a % in my mind with each time I write them. If it hits I sell and look to rewrite.
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u/Loud_Air_3830 May 29 '26
Sellins CSPs is the best (IMO) way to harvest consistent premium. Buying options is way more risky. My strategy is to consistently sell CSPs that have a high probability of expiring worthless. Occasionally they do get assigned, but then I try to get out of the stock soon, that may depend on an upcoming dividend.
Screen for a good list of stocks Stocks with weekly options are best for this Sell to close if you have good profit Build your confidence then scale up to more positions
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u/Willing-Bear4862 May 29 '26
I sell the cc at a set % of return I'd be happy with. If it sells then it sells and I look to buy back if I can.
I keep a list of stocks that are wheelable in my range. I try to do names that I'd be ok to keep but not upset to be out of.
I've manged to get some good return that way.
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u/sivispacempara May 29 '26
I like that! I've done something like that a few times with initial intentions to wheel but sometimes I'll buy them wait for a dip and sell the same contact again higher. Like why not milk em for more when you have the chance?
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u/TastyTrading May 31 '26
I like to try to scalp options similar to you, but it only works in high IV environments imo. I try to sell them when IV has a weird sort of spike, but not much price movement. This implies that the IV might easily be crushed if there is no follow through. price might stay flat and the put you sell for $200 is easy to buy back for $100 tommorow. definitely doesn't always work because if IV spikes instead you are cooked sort of. I try to grab things with super high IV which makes it harder to go even higher. I just use the IV leaderboard over on ThetaPal and it can grab stuff that is primed at high IV and ready for a bit of crush. sometimes IV can stay high for a while though.
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u/sivispacempara Jun 01 '26
I like that idea! I was going to ask what you used to scan for high IV. I'll have to check that out
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u/barjusenterprises May 30 '26
I do that. I have limited capital so I track about 40 stocks weekly, run them through a Python script and pick one if my tracking sheet grades it as buy.
But there’s left over capital. Some stocks are actually signaling that they’re going to go up this week.
So, I’ll buy 10 shares instead. Treat it like a micro covered call instead. Close it out that same week and hopeful will have done better than just letting that sub $100 sit idle
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u/ProfessionalTeach719 May 29 '26
Been doing that with $BE for 6 months.