Greg Proctor

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

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

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

He’s talking about options, right?

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.

I hope my options selling friends had some cash on the side. $VIX is rising and $QQQ is down 2.45% today. Now might be a good time to use some of that cash.

$MSFT is absolutely ripping. Bought $430k worth of stock when it was beat up on cap ex fears and up 26%. My covered calls are about to go ITM here. I'm thinking of doing the Tom Sosnoff wheel variation, which is in one transaction (1) sell the shares for a profit, (2) buy back the covered calls at a loss, and (3) sell 10 OTM puts at a 30 delta to potentially reacquire the shares. The other options would be to LEAP CCs expiring in a year at a $675 strike (just outside the expected move). Let me know if you have any brilliant thoughts on the matter. I need to decide before these CCs go ITM.

Two different perspectives on learning: Perspective 1: Yesterday I client going through my 12-week Options Portfolio Mastery program told me that he's made back the cost of program already in profit. He's in week 9 of 12. The skills he's learning will serve him the rest of his life. Perspective 2: Around the same time the client above started my program, I spoke with a different prospective client on the phone for 45 minutes about the skills he would learn. He told me the cost was too high for the value he'd be getting. Over time I've learned that successful people take an abundance perspective to life. They are less cynical than others. They believe that they can start successful businesses. They believe anyone who puts in the time and effort can make money in the stock market. They fight the little man on their shoulder that screams everything is rigged and anyone selling a course is trying to scam them. Working with these people has made me wonder if I've looked at the world through eyes too cynical at times. Anyway, happy trading folks. We're in a phenomenal market. +$23,059.03 in options profits so far this month for me. Equity positions are roaring too. Cheers to a world of abundance.

I got married! Wedding in Italy are 10/10. Highly recommend.

+$22,038 month to date profit. The market has been ripping lately and I love it. We were right about $QQQ being overbought yesterday and I'm glad I closed out a bunch of positions for profit yesterday. I'll add them back in again soon. This week in my Options Portfolio Masterclass, I was teaching how to construct a safe and profitable options portfolio. Part of the analysis I teach is understanding your portfolio theta decay. Portfolio theta decay is helpful for constructing a portfolio that achieves a certain level of short premium profit. For example, if I have $1,000/day in portfolio decay, that means my portfolio is generating $30,000/month in time decay. We don't keep all of that because we take some losses, manage early, and volatility expands at time. So we estimate conservatively about 25% as profit, or $7,500/month in time decay alone. Over the years as my account has grown, I've become more conservative in my time decay. I'm putting on the same size positions I was when my account was half its size. The question I'm toying with is: Do I ramp up my portfolio theta? The market seems overbought for the moment. Or do I continue being conservative on my theta decay? My portfolio is built to be more directional then delta neutral at the moment. As an aside, I'm fairly certain that my Options Portfolio Masterclass is the most comprehensive retail options course available today. It's 40 hours of training over 12 weeks, split between 1-on-1 coaching with me and structured lessons I've spent the better of a year crafting. Check out the link in my profile if interested.

Look at QQQ on the RSI. It's overbought on the daily, weekly, and monthly views. I bought back a lot of my QQQ short puts today. I agree on $TSLA.

September 2026 Options Report: +$13,409. As options traders we sometimes have competing interests. We meticulously scrutinize over our options PnL, and for good reason. A skilled options seller makes serious money doing this. I've made about $250,000 year to date in options profit. So we analyze, refine, and improve constantly to be better at what we do. Equities compete with that interest at times. My options profit would have been about $30,000 but the run up in $MSFT and $META is resulting in covered call losses. Covered call losses are a "rich person problem" for options traders. For every $.25-.50 you lose a covered call lose, you will make $1 in stock profits. So while I took ~$20,000 in covered call losses in September, my brokerage account appreciates $221,000 in September (only some of my shares were covered). I'll take that trade off any day of the week. I'm here to build wealth, not post banger options profits month-after-month, although I like doing that as well 😉. October to date: +$12,809.10 in the first 6 days.

Stupid! I broke my trading mechanics on $META Covered Calls because I thought breaking the rules was the smart move and it bit me in the butt. I made several mistakes. The first is that I left covered calls on $META after I downloaded @Muse on the first day of release and went "wow, this is phenomenal." I should have realized the market would react positively and the stock price would appreciate. Mistake #2, when my $730 covered calls started to get challenged after a +14% week in the stock price, I rolled them to $780/share with 2-months until expiration. This was not the mistake. That was the correct mechanics. My mistake is that when $META continued to run and I was down a bit on my rolled-covered calls, I said to myself "this might be a stock repricing of $META, I should get out." So I did and took at $18k loss. If I had held out a few more days my CCs would have been completely safe, effective, and making me money. The correct decision would have been to wait until the rolled covered cals got challenged again and then roll again or let the shares get taken away. I had shorts puts with 10 rolls, resulting in 12k profit before that on $META so not a huge deal, just frustrating for now. Who knows, meta could keep running starting tomorrow and I'll look smart again. haha

$META @Muse shows you its computer working in the background. Finding a hotel reservation for my brother near my hotel in Venice. Incredible.