Hello everyone,
For last about 4 weeks I have been consistently selling vertical spread puts and vertical spread calls on MAG7 and two to three other stocks based on market direction. I open them on Monday after 10:30 am and sell either put or call for coming Friday. I usually sell just one contract per stock. This makes about 5-6% weekly profits with success rate of 85% or little more. Each trade ranges from $200 to max $500 (based on width offered) , and I just do one contract.
I was thinking of scaling this up gradually which could be to add indexes and other stocks to my list to go for at least 25-30 different instruments instead of just 10 or 12 right now. Other option of scaling up could be using same stocks but increase the number of contracts.
I have these questions 1) is this the right strategy before I go too far and or invest too much ? 2) how the scaling up ideas are based on your knowledge and experience ?
Looking forward,