The Stock Market Crash 2020 - Day 44 | April 24, 2020 So how do I go about finding the best options to trade right now, with the market maybe crazier than ever?
Well, in this video I'll give you a glimpse of what's going on between my ears when I'm looking for the best options to trade in 2020. With the conditions still VERY volatile, I'm looking for put options to sell for premium.
Right now, selling put options has been working great! In fact, I'm on a bit of a winning streak without a loser in over a month. About 4-5 weeks ago (at the time of this video) I opened a small account with around $25,300 in it and as of today, that account is now over $35,000...I've been doing this for a long time so these results aren't typical.
The way I'm finding the best put options is using a multi-point checklist I've put together that is setup to make sure we're doing everything we can to avoid trouble. It's important to realize the risk involved in selling puts, so if you're brand new to options, you should start with my "Options 101: A Beginners Guide To Options" video available here on YouTube:
Here's Basics Of My Checklist:
1) Has The Stock Been On The TradingView Hotlist For A Few Days?
2) Is The Stock Cheap ($20-$50) Relative To Your Account Size?
3) Would You Be OK If You Owned The Stock At The Strike Price You Sold It At?
4) Does The Stock Trade 'Normally' Or Is It a 'Crazy' Stock?
5) Is Company At Risk Of Going Out Of Business (i.e. bankruptcy)?
6) Is There Enough Time Before They Report Earnings?
Looking through the TradingView Hotlist, out of forty or so stocks that popped-up, we've found four stocks that have made the shortlist:
- NCLH - Norwegian Cruise Line Holdings Ltd Options
- BA - Boeing Co Options
- SPR - Spirit AeroSystems Holdings, Inc. Options
- ARNC - Arconic Corp Options
Now to determine of these four stocks, which is the best (if any) to trade we'll need to plug in a few different figures into my custom put options calculator I've put together.
So check out the video to watch as I analyze these trades live and review my open positions I have trading this exact same strategy selling put options.
Thanks for watching!
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