📱 Best Platforms
Robinhood, TD Ameritrade (thinkorswim)
📖 The Hustle
Own 100 shares of stable dividend stocks, then sell covered call options against your position to collect premium income on top of dividends. You pick a strike price above the current price and earn cash upfront. If the stock stays below that strike, you keep the premium and your shares. This strategy can double or triple your effective yield on sleepy blue chips.
🚀 First Step
Buy 100 shares of a stable dividend stock on Robinhood, then sell one out-of-the-money covered call expiring 30 days out.
🔑 Keys to Success
- Pick strike prices at least 5-10% above the current stock price to reduce the chance your shares get called away
- Sell calls with 30-45 days until expiration — this is the sweet spot for premium decay
- Only run this on stocks you are happy to own long-term in case the market dips
🛠 Tools & Resources: Robinhood, thinkorswim, OptionStrat, Barchart, Yahoo Finance