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NOOB SELLING OPTIONS
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WHEEL OPTIONS STRATEGY
The Wheel Strategy is a systematic way to sell option cash-secured puts and covered calls as part of a long-term trading methodology. In essence, you keep selling options on stocks that you are bullish on, to generate monthly income. Basically, you repeatedly sell cash-secured puts (CSP) to collect option premium.
POOR MAN COVERED CALL
A "Poor Man’s Covered Call" is a Long Call Diagonal Debit Spread that is used to replicate a Covered Call position. The strategy gets its name from the reduced risk and capital requirement relative to a standard covered call.