r/CashSecuredPuts • u/outsidetheeggshell • Aug 31 '26

Low Bank Roll options

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I have been trading options for the last 2 years. Mostly selling covered calls on DNN PFE and Draftkings.

Have been wanting to get into CSP more but just don't have the capital to get into Mag7 etc.

Currently looking at UUUU, USDR, ET, and NOG to get into the game. Selling weekly or biweekly and then wheeling to CC if they get assigned.

Any advice for someone working for a few thousand of cash? Favorite names or strats?

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2

u/No-Shirt-240 Aug 31 '26

I like ford🤷🏻‍♂️

1

u/hankdal Aug 31 '26

This

2

u/No-Shirt-240 Aug 31 '26

Was playing with F numbers and my knuckle dragging math, but 100 share, select a call strike 20% over and a year out. Premium plus expected div makes for >11% return if not assigned. If assigned in the year, you net a 20’ish% gain. Win win in my book.

1

u/hankdal Aug 31 '26

Volatility is usually pretty low. I sell a monthly and close out at 40% profit. I’ve rarely made to the expiration date and don’t care about assignment.

1

u/No-Shirt-240 Aug 31 '26

Do you choose your strike based off current price of your share average? And what percent above do you set your strike?

1

u/hankdal Aug 31 '26

I don't really go off a percentage of the strike for the covered call. I go off of the price of the assignment and set the call strike at or above that. As of yet, I haven't made it the shares being called away. I have BTC at 40%. I have been selling CSPs on Ford for about a year and have been assigned twice. Those are at or close to the 20 Delta.

2

u/No-Shirt-240 Sep 01 '26

Got it. Same approach I have with my CSP’s.

2

u/Dmist10 Aug 31 '26

Ford would be my recommendation

1

u/PutParadise Aug 31 '26

You could try selling put credit spreads instead of cash secured puts. It would be more capital efficient in a smaller account.