Huge Profit Selling Puts on Palantir (PLTR) Stock - YouTube

hey everyone welcome back to finance for dummies  my name is ben and today is tuesday march 29th um  

so what we're going to do today is we're going  to close out our pound here and so far sold put  

options our pounds here is at 86 percent of its  value and normally we like to close these at 75  

so we've exceeded that um and we'll do that  with the sofi as well so let's go ahead let's  

throw an order out here um in fact i have a  limit order already we're going to want to

cancel oh cancel and replace so a lot of times  guys what i'll do is if i'm just sitting around  

during the day i'll throw out an ideal number  for a limit price in case it does get filled  

this hasn't gotten filled so we're going to come  in here buy to close we're going to close all six  

contracts we'll do it for the seven bucks 0.07  so what this is saying guys is we originally  

collected three hundred dollars credit for this  to open the contract and the value of the contract  

has decreased to the point where we can buy  it out for forty two dollars which will leave  

us with a two hundred fifty two dollar profit on  this contract so we're going to review the order  

a collateral done so we'll come back we'll see  our buying rep power reflect that in a second  

there we go seventy eight hundred and we're  gonna do the same thing with our sofi so the  

sofa is at sixty three percent but it had a hell  of a run today um so we're gonna close that out

submit

filled done and that will release  nine hundred dollars at collateral

all right so something different  we're gonna do today guys is  

normally i'll go ahead and and open up another um  set of contracts right away but the the stocks i  

like playing have had such huge run-ups you know  in the past week that the put premiums are not  

that great and to get the premiums i want you know  i'm kind of starting to get to the point where  

i'm putting myself in a position where i'd have to  buy these potentially buy these shares at prices  

i don't really want to buy them at so what we're  going to do for now is i'm not going to release  

this till we open up more but um i'm going to  wait till we have a little bit of you know red  

day on some of these stocks to open up another put  just because on red days your put values increase  

and you know i'd like to reduce my risk a little  that way so uh for now we're just going to keep  

the buying power here and we're just going to  sit on our hands for a little bit until we have  

a little bit better of an opportunity i wouldn't  say it'll take long you know a few days we're  

bound to have another red day so that's the market  and uh yeah we'll go from there so uh it'll take  

a second for you guys but i'll see you on the next  one all right everyone so we're back uh we're here  

wednesday the 30th um we got a little bit red day  in the market so we're going to open up another  

sold put on pound here so we'll pull them  up right now they're trading for 13.81  

trade pound tier options and we're going to go  out to april 8th make sure we're on sell put  

and we're going to go with the 13 and a  half strike here so we'll go with that  

continue i think we can get six of  these with the capital i got so six  

35 so minimum credit we're  looking at 210 review order submit

and we're filled so that was eighty one hundred  dollars a collateral i should still have about  

thousand dollars left to collateral um i  think we'll hold off there for now we'll  

save the collateral in case anything else  drops a good chunk so there we are guys uh  

216 dollars i'm quite happy with where we're at  right now um i don't know about today but for the  

first time since we switched over to robin hood  and you know since january we're finally above uh  

where we started so we've pretty much eliminated  all those losses so i'm quite happy right now and  

i think that's about it so if you guys have any  questions on how sold puts work um go ahead drop  

in the comments below hit the like button and  subscribe and we'll see on the next one thanks