My latest row with the fools in the Reddit Options SubReddit, so much fun— 11/01/2023
Once more into the breach…
Today I ran across this in the Reddit Options SubReddit:
I’ve concluded that there is no such thing as a “consistent income” doing this. (self.options)
submitted 22 hours ago by Novel-Trick1490
I’ve been trading over the last several months, backtesting until my head explodes, studying analyzing etc and after all that, after trying out various option spread strategies like Iron Condors and verticals and butterflies.
I have reached one conclusion, there is no such thing as consistent income doing this over many years. And no, I’m not talking about someone that has a full time job and makes a few hundred bucks most months.
I’m talking about the type of income so you don’t have to work, you can support your family, pay your bills and live a pretty good life over 5,7,10 15 years plus consistently. I’m talking a 65k a year income strictly doing this and nothing else.
The only exception is if you have such a huge trading account to begin with that you could practically just live off that money already without trading at all but you trade anyway.