Trading Long Strangles for Passive Income: A Great Options Strategy

If you let it, trading options can be the most emotional way to earn money. We must put aside our temperaments for the greater good to achieve a consistent income. Long strangles aim to earn you profit no matter which direction your stock price moves. However, you'll need to take profits early because your options decay daily on the market. My goal is to earn 5-10% of my invested income on each trade. So, if I buy $8,000 worth of puts and calls, I want to make $400 to $800. You can make much more if you keep your money on the market longer, but I choose to enjoy my life and keep my earnings relatively passive. To each their own. Good Luck!