Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Selling Puts: Have Cash Will Travel -- Ignore unavailable to you. Want to Upgrade?

To: taxman who wrote (877)	1/22/2000 1:21:00 PM
From: Tom K.	Read Replies (1) \| Respond to of 1235

...it has been my experience that one cannot get rich using either of these methods (covered call or short puts)... Taxman, the factor of getting rich is a matter of time and the willingness to compound earnings within a reasonably conservative investment strategy. Read "The Millionaire Next Door" for examples of how everyday people do it. With option trading, I've found that I can easily exceed 30% per year return selling PUTs. A $25,000 base will grow to over $1 million in 15 years at 30%. Could be done in 10 years at 50% return. It takes work, but nobody gets rich without effort (and time). One can try to get rich buying PUTs and CALLs but only with a great deal of risk and the potential to lose all. Most important..... rich is a relative term. I have my health, wonderful kids, great wife and a beautiful healthy 2 year old grandson.... I'm very rich. Tom