Inside the process

A loop you can start on a weekday.

Qi materials start as small as a $500 ROTH EXAMPLE AND A $50 automatic monthly contribution. Your numbers will differ. The shape does not: one 100-share unit, one option contract, premium back into the pile.

Step 1

Open the account

Brokerage or ROTH IRA, per the Qi starter. Have a place the contributions can land.

Step 2

Turn on automatic contributions

A small monthly amount you will not miss. The example in Qi materials is $50. Yours can differ.

Step 3

Practice one unit on paper

Thinkorswim OnDemand or paper money. One 100-share lot covered by a Covered Call or Cash-secured Put (cost set aside), write down first.

Step 1

Open the account

Brokerage or ROTH IRA, per the Qi starter. Have a place the contributions can land.

Step 4

Own one 100-share unit

A stock you woul hold without the option contract. No ticker recommendations in this classroom.

Step 5

Sell the Covered Call

Sell one Covered Call. Fill in the worksheet before you place the order.

Step 6

Reinvest premium + contributions

Premium is not spending money. It goes back toward the next unit.

What we do NOT do

No stock picks from this site.
No "set and forget paycheck" language
No skipping paper-trading if you have never bought an options contract
No naked Calls, Covered means COVERED (owning 100 shares)

Open the loop in the classroom