Before we get to deep into Seeking F.I.R.E., I feel like I should explain my trading approach.

Trading mostly options since I feel they are producing the best results with the minimal amount of risk to me at this time. Since I am only qualified for cash-secure puts and covered calls, I am looking for options with a strike price less than $5. Also, since I want to be able to make multiple trades, I have further reduced the strike price to less than $3.

Generally I am looking for options that expire within 1 – 3 months (with a few exceptions). I want an option with a Delta of around .3 and will give me the best premium possible. While I am not hunting down premiums, I am looking for the best ones available.

I don’t intend to hold the options until expiration. I am looking for a profit of at least 5%. That will give me a faster turnaround on my money.

I don’t plan to go into a lot of details about how options work and all the terminology. If you are wanting to learn, these are the guys I learned from – Brad Finn and InTheMoney. Of course, once you are ready to trade, I recommend Webull (the link will earn me free stocks).

So, my results from today…

• Sell – $EVFM $1.00 21 Jan 22 (didn’t follow strategy!!)
• Buy – $GSAT $1.50 15 Oct 21 Put 100
• Buy – $GSAT $1.50 15 Oct 21 Put 100

Net account value – $568.71

*I am not a Registered Investment Advisor, Broker Dealer or a member of any association for other research providers in any jurisdiction whatsoever and I am not qualified to give financial advice. Investing/trading in securities is highly speculative and carries an extremely high degree of risk.