1. Only trade non-volatile liquid ETF’s that pay a dividend, are optionable. and have very low fees.
  2. Use stock options currently from this list: EWW, EWZ, XLE, FXI, EEM, HYG, EFA, XLF, and KRE.
  3. Use 20% of account for each trade. That would be 5 trades going on at any one time. (5×20%=100%)
  4. Use simple Technical Analysis to guesstimate the stock’s trend.
  5. Sell puts or calls In the Money for a decent premium.
  6. Use “The Wheel” strategy as shown in the video.


I initially trusted my retirement account to brokers who were running Closed End Funds (CEF’s). Things were rosy in a bull market until March of 2020 hit. The past 5 years of my revenue was taken in a few days. Hey, but the fund managers still got paid high salaries. Yes, that is dripping sarcasm.

Luckily, the feds got involved and my funds finally broke even. I did not lose my base funds and most of the CEF’s bounced back at least 75% to where they started. Even after the feds bailed out the economy, one of my CEF’s did not bounce back. Namely DDF.

I am still holding that stuck pig. I have hopium that it will show a strong heartbeat again. I’ll give it until the end of the year or maybe a bit longer to see if what it will do. At least it is paying dividends, so there is still a very faint pulse.

I let my guard down and I had been slaughtered by the wolves. It was time to take matters into my own hands. So, I decided to sell cash secured puts and covered calls in my retirement account. I’d rather gamble my own money than let morons in suits gamble it for me.

Do I sound bitter? Nah, I just kick myself for letting this happen. I have been making money trading for the past 20 years and my trading portfolio is larger than my IRA account. I just got lazy and now it’s time to start making money in that IRA account.

Categories: Strategies / Studies