Greg Proctor

Most options education teaches buying. Probability of profit ~15%. Theta and volatility are against you. I sell. POP ~80-90%. Theta and volatility collapse pays me. 2025: $270k+ verified options income (1099 public). ~$1.25M account net liq. That income let me escape the grind of a law firm. I teach the system in 12-week Options Portfolio Mastery program: 👉 weekly video + live coaching 👉 Guiding you through real trades from week 2 onward 👉 > $20k+ brokerage recommended Free fit call. I'll tell you if you're a fit. bttcourse.com/apply

Property taxes are insane. In 2020 I bought a townhouse for $640k. 6 years later, my townhouse is worth about $950k. I pay about $12k/yr in property taxes. $1,000 a month just for the right to own a home. My wife and I want buying a house with a yard. We’re looking at a $1.5M house. I would be paying $3k/month in property taxes on the new house as a result of the step up to the new cost basis and more expensive house. $3k/month is my current mortgage on the townhouse. I can’t fathom paying my entire current mortgage in property taxes on the new house because I’m buying a house that is about 35% more expensive than my current home.

Strangles are king. We should have moved from short puts to strangles on June 1st. Hindsight is 20-20.

Yesterday I sold all 2,800 of my $TSLA shares, about $1.1M worth. This is the options wheel alternative I posted about previously. Why: $TSLA ran from $300 to $400 in three months. Based on its implied volatility, that run was way outside the expected move to the upside. Volatility across the whole market was also elevated going into the midterms. Add up (1) $TSLA above $400 after that run, (2) high market volatility, and (3) election risk, and you get a stock that is due to cool down. The trade: In a single trade I sold my shares at $405, bought back my covered calls for a loss, and sold puts 45 DTE at the $355 strike. So far it looks like the right call. The Dems won Texas handily and the market immediately priced political headwinds into $TSLA and $SPCX. $TSLA is already down $11. I'm happy to get assigned again at $355 in 45 days. That would be buying back in $50 below where I sold, and I get paid to wait in the meantime. If you want to learn how to use options effectively as part of your investment strategy, schedule a free fit call for my 12 week Options Portfolio Mastery program 👇 bttcourse.com/apply

For my options sellers, I had Muse research the stock market’s 5-day reaction to mid-term election results. Here’s the research for anyone thinking about selling premium while volatility is high in QQQ and SPY: muse.ai/s/midterm-elections-…

There's an interesting dynamic in the market right now for options sellers. The $VIX is at 19, which says the next month looks calm. Put skew, however, is at 151. Equity holders are paying up for crash insurance anyway. The market is worried about tail risk and is pricing it in as a real possibility. Either we options sellers are being overpaid on the put side right now, or the $VIX isn't telling the whole story. Midterms are Tuesday and the jobs report is Friday. I'm staying conservative for the time being.

Sold 3 $QQQ short puts just now. 20 Delta. Couldn't help it.

The best portfolio size for selling options is between $500k and $1M. Once your account gets bigger than that, options buying power is no longer an issue. You can put on as many positions as you’re comfortable with. Past $1M, profit as a percentage of net liquidity stops being the goal. The goal of selling options is first to pay for your lifestyle (car, mortgage, dinners, etc.), then to add cash to your equities. The return on your time is much higher at this point, so you don’t need to strive for a 4% return, and the risk it takes to earn a 4% return gets harder to justify. At $2-3M, the equities do the work, and the options make lifestyle spending feel like you’re not eating into your investments.

Options sellers should never go through earnings, unless you are intentionally placing an options trade. Anyone with short puts on $GOOG $GOOGL IS taking a rough loss tomorrow. With any luck, volatility collapse will save those traders and, hopefully, this price doesn't reflect tomorrow's opening due to low after hours volume.

I'm not a fan of the Wheel. But there's an alternative I recommend to my clients, and the graphic shows how it works. Why I like it: when a stock moves further than its implied volatility said it should, it rarely stays there. So sell the shares for a large profit, take a small loss on the covered call, and sell an out-of-the-money put. You'll likely be assigned your shares back at a lower cost basis. $META's September run is a clean example. $TSLA may be in the middle of one right now. Learn more here: bttcourse.com/apply

How the brain works relative to the stock market: I feel elated = Market is about to experience a pull back. I feel defeated = Market has bottomed, relief is on its way.

Alright Mr. Market - Don't mess with me this week. Let's finish off the month strong.

He’s talking about options, right?

I like it

New $META LEAPS. Not financial advice. Leaps are risky and should be used sparingly with a small percentage (< 5%) of your portfolio. However, this is exactly the time I like to buy them. Oversold on the daily B-XTrender and RSI. Just had great quarter. Macro concerns. Just released a wildly popular product as part of their core business. DM me if you want to learn how to analyze LEAPS.

Stop with this shit.