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all right so welcome to another video in this episode we're going to take a look at step-by-step selling calls on Nvidia so I'm going to show you how you can do this process and in other words create kind of a weekly or monthly income for yourself uh through trading the stock now keep in mind you do need to have a little bit of extra cash you could say uh to be able to trade in video it's a little bit more pricey right now but it's not to say you can't do it anyway let's take a look at um kind of uh some things here when we're looking to sell uh covered calls before we do that I do want to let you know if you're really interested in learning how to trade covered calls check out the website here tradersupply.com you can visit this website and it has a bunch of our courses on there and we just worked on the wheel strategy not too long ago so definitely check that out all right let's get started on the um on Nvidia now right here I don't have any positions on Nvidia or any stock so in order to sell uh covered calls one of the first things we need to do is uh get some uh stock so we've got to go ahead and get some stock and purchase it so that's the first step so let's go ahead and type in in video on our platform so we'll go into the trade tab type in Nvidia we're going to go ahead buy 100 shares now do we have to do this like this no there's an easy way to do it as a combination order that I'll show you in just a minute okay so we'll go in we'll buy a hundred shares go ahead switch down 100 shares voila bye confirm and send check it out send it wait for the order to fill usually takes a little bit of time and then boom you're in so now I've got this position I've got 100 shares right there Nvidia 100 shares that I've purchased okay so what's the next step the next step is to go in and sell a call against it so we can go to the two day I went to the two day uh right now just to show you a little bit of a faster method of uh if you're trying to do this every week you could say hey well you know what I could sell for 390 dollars uh right there or 305 or 290 or 236 so you could choose one of these but what you're doing when you're selling a covered call okay what you're ultimately saying is I'm pre-selling the stock in advance by pre-selling it in advance you're saying hey I bought this stock at 455.
that's right there and now I'm looking to sell it at 460 457 462. you're looking to sell it at those different prices now if it gets to that price then you will lose those hundred shares for that price meaning you've sold it at that price so you get to profit from the stock and you get the premium on the option if it doesn't get there let's say that stock just goes up a dollar right here it goes to 456 and 68 or 69 cents well you still get the option premium of kind of like collecting red 395 dollars if that's the one you sell so that's the good news now if it goes down what's the good news the good news if it goes down let's say you lose value on the stock like right now I'm losing about uh 28 on it well if I sell this one for 390 well yes I do lose some value on the stock but I'm paying it off with that um option premium so I'll sell the 390 right here we'll send that in boom a fire and now we've got it now this Delta is 39 so it cuts the 100 Delta for those of you more advanced to maybe about 60.
and if we take a look at this position there it is 60 Delta voila okay so now we've got a covered call position I got 60 Delta I got 143 Theta so that means this decays fairly quickly so about a hundred dollars a day is what I'm making on it from the decay now if it's heads higher the most I can make is 818 dollars States it right over there 818 if it stands still I'm going to make the 390 and if it pulls back I'll still make the 390 it's just the value of my stock goes down so how about that for selling covered calls on um Nvidia pretty simple process uh yes I've covered quite a handful of things here um but uh Step One is grab the stock step two is go ahead and sell the covered call and then step three is kind of let it do its thing and Decay now we're going to show you how to do this all at once so I'm going to go in and how do I go in and just do this at one time I'm going to go to the nine days so you can see it I can't just go right here and this is think or Swim specific and say hey at nine days I think the Stock's going to get to let's say 465.
I can just right click Buy and this all well let me scroll a little bit down here so the menu comes up right click buy and then covered stock and now I've got a hundred and a minus one for the call right there so I can send that in and now I will get 200 shares in total and then this next one will show up and appear right here at the 465.
so I'll have the 200 shares and I'll have another -1 in that area and that'll give me another covered call so that's what I would do and take a look at if you wanted to do it together if it's not getting filled right click cancel and replace uh let's unlock that price I'll bump it up a little bit and see if we get it filled and give it a moment we'll see this 100 change through 200 let's see if it happens and then the minus one here we'll add another one right there and uh usually that will set things up okay uh while we wait for that I want to show you the other position on Nvidia you could do a lot of these calls like let's say you have a 500 shares so I've got a bunch of calls sold against my Nvidia position here on the paper account so take a look at all these positions so here's the 500 shares um okay so this uh positions uh profitable and then what I'm doing is selling a call against this one so you can see oh there it is the buying the covered it got filled I'll show you that in just one second so we're selling a call here then I sold another call over here then another call over here so the more uh shares you have the more you could actually um you know position yourself and then I also have a protection that I've got over here I probably should actually close that down while I'm here uh create a closing order send that in okay and then I've got this uh put as well over here that I got in November well let's close that one as well so you know you're managing your inventory as you have these things going and now I've got Nvidia here and there's the 200 shares we talked about minus one and a minus one so perfect so that is the setup and construction I've got at those different positions to show you the expirations there's the two expirations there and uh really what we've got going on is now a much better Theta Perfect all right so if you really want to learn a lot more about uh that strategy wheel strategy puts covered calls check out the wheel strategy uh we also have a covered calls course and tons of other great materials so uh thank you so much for joining me truly appreciate it uh feel free to check out our uh free webinars at trading webinars.co and I will see you in the next video thanks and take care
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