When starting with options trading (selling), beginners are often directed to learn two basic strategies: covered calls and cash-secured puts.

These basic strategies are foundational and help …

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It's suited for anyone interested in basic options trading for income, but I highly recommend that every level of investor get their head around these!

Covered calls are my number 1 go-to strate…

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Although I may have only lasted 2 out of 10 days on the Huayhuash trek due to a virus (pride swallowed), I managed to make an income trade on a 9-hour bus from Huaraz to Huanchaco - a surf town in northern Perú.

Adding to the mix, I've arrived here to find the surf is shit, and the town is completely deserted because it’s wintertime.

Wintertime! I’m right on the bloody equator and coast, yet experiencing winter weather. Go figure that one out, or simply Google the Humboldt Current effect on climate, and you’ll find your answer.

But, there is a positive, and it’s a fucken big one.

Ceviche is off-the-chain good here.

Huanchaco sits adjacent to Trujillo, the third-largest city in Peru, renowned as the birthplace of ceviche.

Also here is Chan Chan - the largest pre-Columbian city in the Americas and the largest adobe city in the world (mudbrick city).

This city even pre-dates the Incan Empire - who eventually came in and conquered the Chimú civilisation - which led to the decline of the city and its people.

Geólogo Rant: A thought just crossed my mind researching this…

The woke left-wing culture in today's Western societies appears to overlook the reality that civilizations beyond European colonialism also engaged in brutal conquests of other civilizations.

You can only imagine what a brutal empire like the Incas did to another civilisation in the bloody 15th century.

Anyway, I digress.

Coming up next week on Geólogo Trader 🇦🇺

• Monthly mentor podcast with Trader Ferg.

• Podcast with Joe van den Elsen - Pampa Metals CEO - Argentina.

• Any income trades I place.

Here is my weekly income trade, yielding a 3% return on investment in premium (5.5% if assigned).

Also, I'll explain why I chose to take a chance and roll forward this trade before its expiry, but without closing it out first.

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I’ll show my results going back 6 months from today with my broker to bank statements.

Please note that during this time, I was also sidetracked by some early opportunities in the Argentine mineral sector and didn’t engage in income trading as frequently due to allocating capital to them.

One big opportunity still exists as a standout in my mind. I wrote about that here the other day.

Since then, I’ve upped the frequency of trading since making some early returns in those stocks initially.

Can you survive on what I’m constantly pushing on you with my stupidly basic income trading strategy?

Why do I like it so much?

For starters, it’s the blueprint I got from my close mate and mentor , and basically, I only answer to myself.

I can be known to have a problem with authority - especially if I sense the position isn’t deserved.

But on the flip side, I love nothing more than learning from someone I can look up to. That can be hard to come by these days in the woke West.

So, today I have no boss, and I can enjoy the meantime while holding strong conviction in my long-term investments.

Argentina and Latin America have felt like one big eye-opening adventure over the last two years since leaving my profession in the mining industry in Australia.

What I've observed economically in Argentina over the last 18 months, what I'm currently witnessing on the ground, and the fortunate opportunities I've been able to experience by immersing myself in the local culture aren't typical experiences for a washed-up bloke from rural Tasmania.

Anyway, you can decide for yourself if these numbers are good enough for you to consider doing something similar.

The key here - I don’t do this lifestyle for one month per year.

It’s permanent and I ain’t going back to the rat race anytime soon.

I’m been doing this income setup for the last two years which means the next steps for me will be sorting out tax residency in Latin America and breaking ties with Australia.

Currently, I'm doing some due diligence on this matter, as it appears that there are many agencies out there to choose from, some costing more than others for what seems to be the same thing.

Stay tuned for that if you're interested, and I'll try to find the best deal.

Now, let’s get some hard numbers into this article.

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But, basic options income (selling) into a strong bull market is an income superpower.

Yes, you do need to set yourself up to do it, I wrote about this in my recently updated guide:

Lifestyle of Freedom: A Guide to Basic Options Trading for Income (Updated April 2024).

I’m just showing you what I’ve done for two years since I departed the mine site.

With inflation hanging around and talks of war from the media MSM propaganda machine, it’s certainly a good idea to spread the concept across commodity sectors.

Commodities historically perform well with inflation.

I’m seeing a tonne of opportunities elsewhere in commodities for options trading for income to accompany the underlying fundamentals (will do an article on this, but I don’t think the opportunities will disappear anytime soon).

Here is the exact trade and income (USD) earned per contract sold:

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I’m passionate about options trading as it gives you an income from anywhere you choose, without answering to anyone or working on a strict time schedule.

It has been a tough one to explain to people on my travels, who basically just consider you unemployed (which is absolutely true).

On top of that, it isn’t all sunshine and rainbows, I’ve had times when I’m losing money, unable to make an income, and having serious thoughts about reaching out to my old mining industry connections to see if they’re hiring Geologists.

What keeps me going is my confidence in my investment thesis and having learned a great deal from my good friend and well-known investor Trader Ferg. Below, I’ve put together a free guide to help anyone interested in getting set up.

This 2024 updated version reflects my increasing knowledge over time and includes some fine-tuning.

If you've already read the initial version, the significant addition is about the bank I now heavily rely on, following my bad experience with a different one, and a change in approach that I've discussed in previous articles.

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It isn’t high ticket sales, or how to grow an online following business, crypto, or technical stock analysis day trading.

It’s plain and simple for introverted, old-school fundamentally invested me.

It’s primarily through a very simple strategy of basic options trading.

I’ve written a guide here for anyone who wants to get started, with some rules and advice to keep your risk low.

I don’t earn big money doing this, but it’s certainly enough for my lifestyle in Argentina.

I can cover my monthly costs of steaks, a holiday in Patagonia (every 2 months), and live a fun life in my favourite city Buenos Aires.

What I want to emphasise in this article is the opportunity to generate regular income as a hedge against your long-term positions.

This opportunity will not last forever, and I'll show you how I've structured my portfolio to take advantage of it.

I'll delve into my simple options trading strategy and the stocks on which I execute income trades.

I’ll prove why they are so compelling compared to other prominent options for income accounts that expose themselves to gut-wrenching risk on big 7 figure accounts.

With my strategy, you can start trading and earn a reasonable income with < $10,000 USD.

You can start and practice with <$200 USD.

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• Weekly market commentary

• Options trades

• Buenos Aires meet-ups for members

• My portfolio updates

• Questions you have for Trader Ferg in our monthly mentor catch-up

I will continue with monthly portfolio and trading reviews in Substack post format.

However, for more frequent daily/weekly updates, I’ve found this segment of Substack to be the most efficient way to keep subscribers updated.

It allows for live chat discourse that is more suitable for market hours.

There are also other participants in the Geólogo Trader 🇦🇺 chat, adding some great value.

To join our chat, you’ll need to download the Substack app, now available for both iOS and Android. Chats are sent via the app, not email, so turn on push notifications so you don’t miss conversation as it happens.

How to get started

1. Download the app by clicking this link or the button below. Substack Chat is now available on both iOS and Android.

Get app

2. Open the app and tap the Chat icon. It looks like two bubbles in the bottom bar, and you’ll see a row for my chat inside.

3. That’s it! Jump into my thread to say hi, and if you have any issues, check out Substack’s FAQ.

Join chat

Observations on the ground, cost of living, thoughts, and tips in Buenos Aires, Argentina article will be out soon.

Cheers,

Jordan - Geólogo Trader 🇦🇺

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I want to use the short-time decay to my advantage here as an options seller.

The trade has a 34% chance of being assigned on Friday (I don’t want to be assigned the trade).

I’ll go through my thoughts and what metrics I use to work this out.

It’s all very simple stuff.

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Today, I've made a significant change to my portfolio, and I will share my basic plan for generating trading income from this adjustment.

It’s a video this time, for something different.

Up-and-coming Geólogo Trader 🇦🇺 articles in the pipeline.

• The Wokefore (can probably guess what that’s about).

• Updated options trading watchlist.

• From the ground in Buenos Aires, cost of living - is the iconic geoarbirtrage disappearing?

I’ll have them out as soon as I can.

Video below!

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If you want to income trade, not many better opportunities exist as they do in this sector right now.

Here is a pastrami sandwich to along with it.

I live in a well-known Jewish neighborhood in Buenos Aires, with great homemade Jewish food, as well as steaks, on many street corners.

What’s funny is I’m only just discovering these places now, after a year of living here.

Anyway, I digress.

I maintain my stance that every investor should be familiar with basic options trading.

If you are not, read this to get up to speed.

The trade video is below. 🍻

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I will continue with monthly portfolio and trading reviews in Substack post format.

However, for daily/weekly updates, I’ve found this segment of Substack to be the most efficient way to keep subscribers updated.

It allows for live chat discourse that is more suitable for market hours.

There are also other participants in the Geólogo Trader 🇦🇺 chat, adding some great value.

To join our chat, you’ll need to download the Substack app, now available for both iOS and Android. Chats are sent via the app, not email, so turn on push notifications so you don’t miss conversation as it happens.

How to get started

1. Download the app by clicking this link or the button below. Substack Chat is now available on both iOS and Android.

Get app

2. Open the app and tap the Chat icon. It looks like two bubbles in the bottom bar, and you’ll see a row for my chat inside.

3. That’s it! Jump into my thread to say hi, and if you have any issues, check out Substack’s FAQ.

Join chat

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It seems to be the most daunting step for beginners when they first out with options trading.

I get the vibe that people seem to think they might accidentally blow up their account without someone watching over them for the first time.

So, I finally threw a screen recording together.

It’s too easy, all you need is your mobile phone.

I’ve placed and executed covered calls hungover from a Mexican beach and during a 4-day hike when I came into mobile reception in the Patagonian mountains.

Below is exactly how to do it on an iPhone or an Android, including how to modify and cancel the order.

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I used this basic options strategy to make a 4.7% return on investment over 7 trading days.

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I mean, most people wouldn’t consider $1,010 USD for the week special by any means.

But to me, it’s a decent amount, especially considering the low cost base I’m trading with.

It’s a 3.5% return on total investment.

Given my extremely low overheads (god bless los peronistas de Argentina) that’s easily enough income for me this week, and it makes up for a slower last week.

Side note: I wonder how all those muppet Tesla options traders are doing with all that gamma risk after another dog shit earnings release.

Energy stocks all the fucking way.

Here are the trades below, I love this basic options strategy.

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I woke up thinking that today I could make some income given the spike in oil due to the significant events that unfolded over the weekend (and are obviously continuing).

The oil spike didn’t result in a high enough spike in one of my regularly traded stocks. However, a nice move in another energy sector prompted me to write some income through options.

The trade is a 3.32% return on $9,872 USD over 4 trading days.

Below is the exact trade and why I placed it.

It’s become a better trade since publishing this post.

I’ve also written some Argentina commentary from on the ground as the ARS (Argentine Peso) faces even more than usual extreme devaluation against the USD.

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It’s based on buying stocks at cyclical sector lows and sitting back and letting the forward-looking thesis of supply and demand fundamentals play out.

“History never repeats itself, but it does often rhyme. - Mark Twain. I see this plastered all around Fin-Twit.

Many years can pass by when these stocks do absolutely fuck all. You have to learn the art of detaching emotion from seeing nothing happen, pullbacks, and if you're really ballsy, frequently adding to these positions.

This is exactly what I did with the uranium sector over the rough years 2016-2019.

One thing that I consider the secret sauce to earning income, while you wait for improving fundamentals to a thesis, is basic options trading.

Here are the lessons I’ve learned from trading high gamma options on volatile cyclical stocks, and why gamma is an important options trading metric to be considered for the worthiness of a trade.

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I’ll share all my trades with paid subscribers. Check it out below if it interests you.

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