The YANG trade I mentioned earlier ^^^

dude that's so awesome

Covered calls are fun

Great way to make your blue chips do a little extra work

Yeah I usually sell slightly OTM SPY calls expiring the next wednesday or Friday

I only have enough shares to sell one, so it's basically me picking pennies off the floor

So it's still worth it even after the transaction fees?

Yeah I can usually get 30-40 bucks out of it after commissions, per trade

not bad

over a month adds up to about 120-150. Really small considering what I have to put down to cover it, but I was burned during Q3 earnings season and I wanted to do something calm

My broker has an API, but they only open it up if your account is freakin' huge. I would love to automate something like what you just said

Which Broker is that?

Ameritrade

Hmm I've heard of it but never used it

Interactive Brokers has an API, they require a minimum of 10k

oh wow

Ameritrade is 400K

holy cow

yeah Interactive Brokers is only one dollar trades too

plus something per contract I think

Ameritrade is damn expensive: $9.99

plus fees for options also

Yeah the cheap commissions plus API is it's selling point, though I don't have an account there

Wow man yeah that is pretty expensive

Are their preipheral services good or something?

eh, they're okay. Good with tracking for tax purposes

good customer service

and I don't make any trades

if I did more day trading I would probably open a second account

Interactive Brokers provides absolutely no frills lol. Not even stock quotes, you would have to look that up on Yahoo. Though they will supply you with data for extra subscription fees

I see

I'm talking about them because I researched them, but i don't actually use them. I use Schwab

quoting through pleb-tier finance sites is almost real-time now, so that's a decent trade-off

Schwab is like 8 dollars an option trade plus .65 per contract, and they only allow two legs per trade, so building something like an iron condor costs quite a lot which is why I don't bother most of the time

On the Iron Condor I sold there, I think I paid like 30 bucks in fees

Ouch

Ameritrade would be about the same though

Here's a trade I've starting thing about

I was thinking about @Zyzz 's thesis about the S&P500 going up this year

and I was thinking to research it a bit more, but here's my idea

Buy a long term (Maybe a LEAP) OTM call option, but sell a near term call at the same strike