I’m gonna make my first post of the year public just because I have 6,000 people on this substack and a fraction of that are actual members, so I wanted to give them a taste of what it is that I post in my daily recaps.
For your next video could you go over the chart for MSFT? I'm trying to see if there's a level much much lower to sell puts at but nothing is really jumping out at me. Thx!
Hi James, Nice to have your recaps back. I have a couple of questions if you don't' mind. (I think I already posted them, but now I can't find them. Apologies for the repeat.)
1. I'm thinking of changing brokers. I'm now at Tastyworks. It has a great options platform but other features are no so hot. Are you at Schwab? How do you like it? I once opened an account with TD Ameritrade because of its Think-or-Swim platform but was very disappointed in it. Do you use the standard Schwab options platform? How is it for what you do?
2. Would you consider posting your long-term book? You've mentioned i once or twice, and I'd be very interested to see what you have as longer term investments if you are willing to share.
1. I am at Schwab, I love it, their street smart edge is solid, but I've been using TOS for so long, well over a decade, I'm just comfortable with it, so what I do is I keep like $50 in an account there in 1 stock just so TOS doesn't shut my account. I like Schwab I have nothing bad to say, their customer service is top notch, their chat bot is quick to answer questions, unlike Etrade.
2. My longer terms stuff is nothing to write home about, just a ton of amazon, google,microsoft, a few dividend names sprinkled in, I don't really spend any effort on it, I just add to it and that's it. I don't have Apple,Meta,Tesla intentionally, I don't really index, and I just think long term those 3 above will be the dividend payers of the future as they slowly hit those inflection points where they have too much cash and nothing to do with it. Dividend wise I really mean mostly EPD. It's just an MLP that pays a big yield and is controlled by the wealthiest family here in Houston. The equity doesn't do much but it pays a big yield that minimizes taxes if you just hold and don't sell.
I don't really believe in diversification, people joke how it is the enemy of long term growth and I believe it. You have to pick your horses and ride with them and for me its AMZN,MSFT,GOOG. I fully expect these over the next 20 years to pay substantial dividends at some point. Apple started paying one in 2013 when it hit $100b in cash and the equity growth and dividend growth has been substantial since,. Google is there now, Amazon will be someday, and MSFT is now at a point where they can grow the dividend at will over time. Apple I'm less sure of long term, we all did have Blackberrys back in the day, Tesla I'm not a believer in, and Meta, well we saw how that went last year, I'm not a big social media fan.
Thanks for your comments. I'm confused about the $50 account. Do you do all your option trading on ToS and keep a $50 Schwab account, or do you do all your option trading on Schwab and keep a $50ToS account.
I have $50 in TOS just so i can use the app/charts because I've been using it a long time im just more comfortable with it than any other platform, but I don't like TDA as a platform so I use schwab.
I’m currently down on my Apple (shares with $143 cost basis) and Tesla ($200 Jan 2025 CSP) positions. Have chart requests for these two, please. If possible, could you also please advice on the strat I should be executing on these two positions? Thanks again! 😊
Hey, I watched your vid and thanks a ton for reviewing both Tesla and Apple. Appreciate it. :)
Yeah you’re so right in Tesla - should’ve sold a put credit spread instead of only selling puts. I’ll try to buy puts on any bounces instead of averaging down. For Apple, thinking of selling $120-130 covered calls for EOY since I don’t expect a major bounce as well this year. Thought?
So with Tesla, I sold $200 cash secured puts for Jan 2025 with $68 as premium (which amounts to $132/share cost basis). I believe this was when Tesla was trading in 150-160s. I was going to hedge it by buying $150 puts on a bounce in the 190s but it never happened.
For your next video could you go over the chart for MSFT? I'm trying to see if there's a level much much lower to sell puts at but nothing is really jumping out at me. Thx!
No prob
Hi James, Nice to have your recaps back. I have a couple of questions if you don't' mind. (I think I already posted them, but now I can't find them. Apologies for the repeat.)
1. I'm thinking of changing brokers. I'm now at Tastyworks. It has a great options platform but other features are no so hot. Are you at Schwab? How do you like it? I once opened an account with TD Ameritrade because of its Think-or-Swim platform but was very disappointed in it. Do you use the standard Schwab options platform? How is it for what you do?
2. Would you consider posting your long-term book? You've mentioned i once or twice, and I'd be very interested to see what you have as longer term investments if you are willing to share.
Thanks.
-- Russ
Hey Russ,
1. I am at Schwab, I love it, their street smart edge is solid, but I've been using TOS for so long, well over a decade, I'm just comfortable with it, so what I do is I keep like $50 in an account there in 1 stock just so TOS doesn't shut my account. I like Schwab I have nothing bad to say, their customer service is top notch, their chat bot is quick to answer questions, unlike Etrade.
2. My longer terms stuff is nothing to write home about, just a ton of amazon, google,microsoft, a few dividend names sprinkled in, I don't really spend any effort on it, I just add to it and that's it. I don't have Apple,Meta,Tesla intentionally, I don't really index, and I just think long term those 3 above will be the dividend payers of the future as they slowly hit those inflection points where they have too much cash and nothing to do with it. Dividend wise I really mean mostly EPD. It's just an MLP that pays a big yield and is controlled by the wealthiest family here in Houston. The equity doesn't do much but it pays a big yield that minimizes taxes if you just hold and don't sell.
I don't really believe in diversification, people joke how it is the enemy of long term growth and I believe it. You have to pick your horses and ride with them and for me its AMZN,MSFT,GOOG. I fully expect these over the next 20 years to pay substantial dividends at some point. Apple started paying one in 2013 when it hit $100b in cash and the equity growth and dividend growth has been substantial since,. Google is there now, Amazon will be someday, and MSFT is now at a point where they can grow the dividend at will over time. Apple I'm less sure of long term, we all did have Blackberrys back in the day, Tesla I'm not a believer in, and Meta, well we saw how that went last year, I'm not a big social media fan.
Thanks for your comments. I'm confused about the $50 account. Do you do all your option trading on ToS and keep a $50 Schwab account, or do you do all your option trading on Schwab and keep a $50ToS account.
I have $50 in TOS just so i can use the app/charts because I've been using it a long time im just more comfortable with it than any other platform, but I don't like TDA as a platform so I use schwab.
Happy new year! Thanks a lot for this post! :)
I’m currently down on my Apple (shares with $143 cost basis) and Tesla ($200 Jan 2025 CSP) positions. Have chart requests for these two, please. If possible, could you also please advice on the strat I should be executing on these two positions? Thanks again! 😊
Happy new year. Will do. So what is it you have with Tesla? You’re long 2025 calls?
Hey, I watched your vid and thanks a ton for reviewing both Tesla and Apple. Appreciate it. :)
Yeah you’re so right in Tesla - should’ve sold a put credit spread instead of only selling puts. I’ll try to buy puts on any bounces instead of averaging down. For Apple, thinking of selling $120-130 covered calls for EOY since I don’t expect a major bounce as well this year. Thought?
I would only sell calls where worst case you get out even
Thanks a lot! 🙏
So with Tesla, I sold $200 cash secured puts for Jan 2025 with $68 as premium (which amounts to $132/share cost basis). I believe this was when Tesla was trading in 150-160s. I was going to hedge it by buying $150 puts on a bounce in the 190s but it never happened.