Options Trading Challenge: $100K to $200K with beginner options strategies (Update #2: 07/03/24)

I sold 69 SATS July 19 2024 19 C for 51 cents. That means that my new breakeven is $18.86. The best possible outcome of this trade is that the shares get called away at expiration on July 19, 2024 at $19. If so, I will have exited the position with a profit. The second best scenario is that the position expires worthless but the shares close at $18.86 or higher. In that case, on the first trading day after expiration, I will probably be able to close the position at breakeven or a very small profit. The third best scenario would be that the position expires worthless but whatever price SATS is trading at on the the first day after expiration is a level which results in some SATS in the money options for the August expiration cycle trading at an amount which would allow me to sell premium at that ITM level and the premium collected plus selling the shares at the ITM level will yield a total amount of $18.86 or higher thus allowing me to break even.

[@Dyno08]

Why are all you videos titled 100-200k. Are you doing that for views or have you been trying to do this for the last 2 years??

[@putpeddler]

The goal is to take the account from $100K to $200K. I have been at it since June 1, 2022.

[@Dyno08]

@@putpeddler oh wow you have been going at it a while now. I’m interested to see what and why you haven’t been able to make that goal yet. How long have you been trading for?

[@putpeddler]

@@Dyno08 As I mention at the beginning of each video, I've been at it since June 1, 2022. I got tied up in a trade in DISH (now SATS) that I was in for over a year. I got out of that trade for a profit of about $68 after all the effort. That set me back considerably. Now that that trade is over, I am moving forward.