≈ The answer might surprise you ≈
The options market offers a buffet of choices. It can get quickly overwhelming and leaves many to ask for direction.
“Hey, coach. Cut to the chase. Just tell me the most profitable one, and I’ll focus on it.”
It’s an intelligent question, but don’t be mad if you find the answer unsatisfying.
The most profitable options strategy, the “best” one, if you will, is the one that YOU know how to make money with.
For one trader, it might be Covered Calls. For another, it might be Bull Put Spreads. Discovering what’s best for you requires trying out a few different strategies and keeping a journal.
On paper, Long Calls and Puts look like they would be the most profitable because they offer an unlimited reward. The problem is unless your timing and chart reading is excellent, you’ll lose money with them.
In the first session of the Team Vikings Trading Lab, I shared my favorite strategies. They are long stock, covered calls, naked puts, bull puts, iron condors. There were a few others, but these are my bread and butter.
Because I’m the most profitable with them! Over the past year, my best performing strategy has been the covered call because of the long stock component. When the market experiences its most powerful bull market in history, it’s tough to beat long stock.
Chart of the Day: The Fastest Doubling In History
Video of the Day: Onboarding with Coach Frank
Coach Frank always does a fantastic job highlighting the new and existing features for new members to the Tackle Trading community. Last night was no different. Check out last night’s onboarding session with Coach Frank if you want to see what Tackle Trading has to offer you.
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