August 9th, 2023
Madness-Style Trading For the Win!
Since we’re gearing up for Income Madness this week, I thought it would be a good time to review what Income Madness entails and the kinds of trades Dave Durham and I will be targeting.
We kick things off Thursday, Aug. 10, at 12:30 p.m. Eastern, with our first of six back-to-back live trading sessions. Our goal is to book $1,000 or more in income from the trades we put on.
In general, we’ll be recommending short-term options trades, selling single-sided cash-secured puts, as well as the occasional bull put spread and a possible jade lizard.
While we’re not day trading, per se, we aim to book fast profits within hours to days of putting on the trades. That’s something both Options Income Weekly and Income Masters members are familiar with. We regularly close out trades within one to two days, earning excellent rates of return.
Here is a look at all the trades we’ve closed in that timeframe across both services since the beginning of May:
We collected an average of nearly $41 per one contract sold with these short-term trades. With our goal of 15 trades during the Income Madness Week event and trading just two contracts per trade, you could potentially earn $1,228.50 in income if we stay near that average.
And we earned an average of 0.9% in just 1.4 days from the trades above. That’s an average annualized rate of return of 225%!
Granted the high return on our VanEck Semiconductor ETF (SMH) bull put spread helped boost the annualized ROR, but we’ll be looking to trade a handful of these during Income Madness Week. (Learn how you can maximize your returns with this strategy here.)
When you close out trades this quickly, you can turn around and put your capital back to work with new income-producing opportunities. And that’s exactly what we’ll be doing in our live trading sessions, which will run for roughly 30 minutes each trading day at 12:30 p.m. Eastern between Thursday, Aug. 10, and Thursday, Aug. 17.
I hope many of you will join us. It should be a fun ride.
While the deadline has technically passed, we’re allowing Filthy Rich, Dirt Poor readers who are interested in Income Madness to sign up here.
Managing Editor, Traders Reserve