While I haven’t figured out how JPow keeps blessing us with his magic printed money, I have discovered the NEXT BEST THING.
QYLD is an options based covered call ETF. QYLD is an ETF that follows QQQ and sells covered calls on it. Every month you get about a 1% monthly payout, and for those of you who can’t do math, 12% a year.
I put a lot of the boomer half of my portfolio in into QYLD so I can have a regular income without having to do anything. I love it. Unfortunately, I am very, very greedy and 1% payout a month is NOT satisfactory for the YOLO GOD. So I have decided to add a LOT of LEVERAGE.
BILL HWANG IT
Bill Hwang is a genius. He is possibly one of the greatest traders in history. Not many can rival his epic profits and losses. Like the great Bill Hwang before me, I realize that the way to riches is LEVERAGE. So I have decided to take out margin at 0.788% at Interactive Brokers and DOUBLE my QYLD position. Now, I am paid 2% a month or 24% a yield.
To amp it up, I now take the 2% yield and YOLO it into 0 DTE SPY calls that are valued at $0.01. When my calls go to $0.02, I doubled my monthly pay. Now I made 4%. If I do this again, I make 8%. Then I reinvest this money into MORE QYLD increasing my position by 16% because of the 2x leverage. If I continue this, by my calculations, I will be a billionaire in 16 months. YES, you heard that right, if everything works, I will be the first WSB billionaire in just 16 months.
I will report back in 16 months from my yacht with my 10 figure net worth. Later!
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