Sell my S&P500 for wheeling?

AI Summary

Author considers liquidating an $80k S&P 500 position to sell cash-secured puts on volatile names like ASTS and ONDS for income.

ASTS — LONG The author is strongly bullish on ASTS and wants to accumulate more shares at a lower price by selling April 10 $70-strike cash-secured puts with ~31 days to expiry, collecting about $2,880 in premium on $80k of capital. The mechanism is that if assigned at $70 he is happy to own the shares and would then sell covered calls against them for ongoing income. The main stated risk is assignment, which he considers acceptable given his bullish view.

let's take ASTS, a stock about which I'm super bullish and would love to own more of, for the right price. With $80k I can sell Apr 10 puts (31 days to expiry) at a strike price of $70, way OTM, and pocket $2880 in premium.

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u/Ok_Ranger1275 Reddit r/options

Sell ASTS $70 puts to accumulate shares

The author is strongly bullish on ASTS and wants to accumulate more shares at a lower price by selling April 10 $70-strike cash-secured puts with ~31 days to expiry, collecting about $2,880 in premium on $80k of capital. The mechanism is that if assigned at $70 he is happy to own the shares and would then sell covered calls against them for ongoing income. The main stated risk is assignment, which he considers acceptable given his bullish view. Reported returns track the underlying asset, not option P&L.

Sell my S&amp;P500 for wheeling?

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