If I adopt this strategy, even if the calls I sold soar again, I won't regret it because the underlying stock is also rising. If I happen to sell at a high point, I'll be happy because the options have already helped me earn tonight's profit. If it drops significantly, I can still use the profit to buy more of the underlying stock.

LongPort - Marcus97
Marcus97

It's best to pair some underlying stocks with options, the "Seven Sisters" will do.

This way you won't impulsively want to open positions all the time. Actually, holding underlying stocks can be quite fun - you'll truly treat options as tools. For example, during these days of sharp declines, I used QQQ puts as protection. I'm actually happy when it drops because the options make money, and when the underlying drops I can average down without missing dividends. If it doesn't drop as expected, the underlying can still make money. This combination keeps your account active even when closing options positions (professional option traders often make wrong trades out of emptiness after closing). Most option traders gamble too much - this approach can somewhat avoid that. It also helps control your position size, preventing you from going all-in on options when excited.$Invesco QQQ Trust(QQQ.US)

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