Here’s the full setup:

Entry

Sold SIRI Aug 15 2025 $22 Put (51 DTE)
SIRI250815P00022000

Opened:        June 25, 2025
Entry Price:   $1.15
Exit Target:   $0.15 (To Close)

Underlying:    $22.48
Buffer:        2.13%
Breakeven:     $20.85

Max Risk:      $2,200.00
Return:        4.55%
Prob. of Win:  ~59%

Profit Target: $100.00

Trade Thesis

I just opened a new position in SiriusXM — selling the Aug 15 $22 put for $1.15 with 51 days to expiration. It’s not a flashy trade, but that’s the point. At just under 2% out of the money, this put lets us quietly collect $100 of premium while anchoring our basis below $21 on a name that’s trading at ~7× forward earnings and still returning nearly $700 million to shareholders this year.

This is a classic collateral compounding setup. We’re not betting on a turnaround. We’re collecting income while the case builds underneath. Subscriber churn has started to stabilize. EV integration is picking up speed (Tesla and Rivian both support SiriusXM streaming now). And the company is finally showing discipline on costs — targeting $200 million in additional savings this year, on top of the $350 million already achieved.

Most importantly, this is still a cash flow machine. Free cash flow is expected to hit $1.15 billion in 2025, with a dividend yield pushing 4.6% — all while they actively buy back shares and pay down debt. If the $22 level holds, we keep the full premium. If not, we’re happy to own the stock below breakeven and start building a long-term position. Either way, the math works in our favor.

The delta on this put is 0.41 — so the odds are a coin flip in theory. But if subscriber trends continue improving and new pricing tiers bring in fresh demand (the ad-supported tier launches later this year), we like our chances. We’re not trying to time a bottom. We’re just building our exposure one layer at a time — and this is where we start.

Status: Open

On June 24, I sold the TLT Aug 29 $85 put for $1.17. When TLT shows some strength I’ve been doing selective positions at this strike.

Here’s the full setup:

Entry

Sold TLT Aug 29 2025 $85 Put (66 DTE)
TLT250829P00085000

Opened:        June 24, 2025
Entry Price:   $1.17
Exit Target:   $0.17 (To Close)

Underlying:    $87.43
Buffer:        2.78%
Breakeven:     $83.83

Max Risk:      $8,500.00
Return:        1.18%
Prob. of Win:  ~69%

Profit Target: $100.00

Trade Thesis

I picked the $85 strike for a reason. It’s not just round — it’s real. That level has acted as strong support for TLT twice in the past year, once in October 2023 during peak-rate panic, and again this spring as yields retested their highs. Both times, buyers showed up. Both times, the downside stopped there. When you're selling puts, you want to plant your flag where others have already drawn a line — and $85 is that line.

At the time of trade, TLT was trading around $87.40. That gives us a cushion of about 2.8% — not massive, but meaningful in a low-volatility product like Treasuries. More importantly, we're not targeting a moonshot rebound. We're selling a put at a level we’d be willing to own long bonds, in a product that’s already been battered by two years of rate hikes. We’re collecting $117 in premium against $8,500 of notional exposure, aiming to close the position once we’ve captured $100 of that. That’s a 1.18% return over 66 days — with a probability of profit around 69%, based on delta.

Technically, the setup’s clean. TLT just bounced off that $85 zone again, and it's trying to reclaim short-term moving averages. RSI has turned up from oversold. Volume’s not screaming “breakout,” but it doesn’t need to. What we’re looking for is stability. If the Fed holds and the market stops pricing in another hike, long bonds don’t have to rip — they just need to stop falling.

That’s the real thesis here. You’re not making a leveraged bet on a dovish pivot. You’re getting paid to take risk at a level that’s already proven its merit — while the market wobbles in between policy regimes. If we’re wrong, we get assigned at a price we’re willing to own or roll. If we’re right, we book $100, add to our long-term TLT position, and move on.

Status: Open

On June 24, I sold the SLV Sep 19 $30 put for $0.51. I’ve been accumulating silver during 2025 as an inflation hedge. This is a conservative play to continue to build my position.

Here’s the full setup:

Entry

Sold SLV Sep 19 2025 $30 Put (87 DTE)
SLV250919P00030000

Opened:        June 24, 2025
Entry Price:   $0.51
Exit Target:   $0.01 (To Close)

Underlying:    $32.455
Buffer:        7.57%
Breakeven:     $29.49

Max Risk:      $3,000.00
Return:        1.67%
Prob. of Win:  ~78.52%

Profit Target: $50.00

Trade Thesis

The gold–silver ratio isn’t just elevated—it’s flashing opportunity. Historically, when the ratio pushes above 80, silver tends to mean-revert aggressively. Today, we’re hovering near 90. That’s despite silver’s recent rally and despite a surge in industrial demand. It’s a signal that silver hasn’t even caught up yet. Gold already made its move—hitting all-time highs this spring. Silver is still playing catch-up. But in this kind of macro environment, catch-up can turn into breakout fast.

Because the truth is, the Fed hasn’t solved inflation. Rates are high, yes. But so are deficits. So is housing. So are input costs in just about every industrial supply chain. Even with CPI cooling on the surface, stickier categories—services, rents, insurance—aren’t budging. And the longer the Fed keeps rates elevated without bringing inflation all the way down, the more they box themselves in. You don’t get to hold 5% policy with 6% borrowing needs forever. Eventually, something gives.

In that backdrop, hard assets become more than just inflation hedges—they become policy hedges. Gold has already priced that in. Silver hasn’t. And with industrial demand tightening the float and ETFs reloading positions, the supply side isn’t prepared for a wave of investment flows. If the Fed cuts, silver runs. If inflation sticks, silver runs. If both happen? That’s how you get to $40, $50, or higher.

So no, we’re not chasing the move. We’re positioning into it. Selling puts at $30 with the intent to own—because the setup favors silver, the macro regime favors silver, and the ratio is still doing most of the talking. It’s not about calling a top in gold. It’s about seeing that silver hasn’t started yet.

Status: Open

On June 24, I sold the OKLO Aug 15 $55 put for $6.75, banking on a high-probability setup sparked by the company’s most transformative announcement to date.

Here’s the full setup:

Entry

Sold OKLO Aug 15 2025 $55 Put (52 DTE)
OKLO250815P00055000

Opened:        June 24, 2025
Entry Price:   $6.75
Exit Target:   $1.75 (To Close)

Underlying:    $58.96
Buffer:        6.72%
Breakeven:     $48.25

Max Risk:      $5,500.00
Return:        9.09%
Prob. of Win:  ~70%

Profit Target: $500.00

Trade Thesis

Earlier this month, the Department of the Air Force issued a Notice of Intent to award Oklo a contract to design, build, own, and operate its Aurora microreactor at Eielson Air Force Base in Alaska. This is no pilot program. It marks the first-ever military deployment of a commercial advanced microreactor—a major leap forward for both the company and U.S. defense energy policy.

The reactor will provide electricity and heat to a strategic Arctic installation, supporting mission resilience in harsh environments. It will operate under a long-term power purchase agreement (PPA)—validating Oklo’s business model, not just its technology.

This aligns perfectly with a string of recent federal executive orders urging the rapid deployment of advanced nuclear systems on U.S. military bases. In short, Oklo is now the tip of the spear in making that vision real.

The implications are massive:

• Institutional validation from the U.S. military.

• A de-risked path toward future federal deployments.

• Proof-of-concept for commercial-scale PPAs in defense.

With the stock trading near $59, this $55 put sale gives us $6.75 of premium and a 6.72% downside buffer. The breakeven sits at $48.25, below any realistic retracement bar a market-wide collapse.

We’re targeting a $500 per contract profit by closing at $1.75 or lower—locking in a strong return while keeping risk defined and asymmetric.

This is a bet on progress—and the Pentagon just made Oklo’s future far more concrete.

Status: Open

On June 23, we opened a new position on Target (TGT) by selling the Aug 15, 2025 $90 put for $2.75.

That’s 53 days to expiration — plenty of time for this setup to play out.

Here’s the full setup:

Entry

Sold TGT Aug 15 2025 $90 Put (53 DTE)
TGT250815P00090000

Opened:        June 23, 2025
Entry Price:   $2.75
Exit Target:   $0.75 (To Close)

Underlying:    $96.01
Buffer:        6.26%
Breakeven:     $87.25

Max Risk:      $9,000.00
Return:        2.22%
Prob. of Win:  ~70%

Profit Target: $200.00

Why We Like It

TGT isn’t your typical retailer. It’s a survivor.

While others were gutted by Amazon or tripped over themselves online, Target adapted — and strengthened. Same-store sales have leveled off, but the business is leaner, margins have stabilized, and the balance sheet is solid. After collapsing from its $268 high in 2021 to under $100 today, the stock is now compressing — a setup that often precedes sustained accumulation.

We’re not chasing a rebound here. We’re positioning before it happens — selling puts to get paid while we wait and buying shares.

Status: Open

Here’s the full setup:

Entry

Sold NU Aug 1 2025 $11 Put (45 DTE)  
NU250801P00011000

Opened:        June 17, 2025
Entry Price:   $0.23
Exit Target:   $0.03 (To Close)

Underlying:    $12.10
Buffer:        9.09%
Breakeven:     $10.77

Max Risk:      $1,100.00
Return:        1.82%
Prob. of Win:  ~80%

Profit Target: $20.00

Thesis

NU has been bouncing in a tight range — and we’re using that to our advantage.

At around $12, the stock offers a clean setup to sell puts just under support. This week, we sold the 8/1 $11 put for $0.23. That’s a ~20 delta trade with nearly 10% downside cushion — and a high probability of success.

But this isn’t a short-term trade we plan to flip.

NU is a core position for us. And $11 is a price we’re happy to buy at. Selling puts here lets us build that position on our terms — with the added benefit of being paid while we wait.

If the stock holds above $11, we keep the premium and reset.

If it dips below, we take assignment and move to the next phase: covered calls.

What We Do With Assignment

We don’t roll these puts.

If we get assigned, we simply take the shares — and wait. NU’s trading range gives us flexibility. We’ll typically let it drift back toward $12, then start selling covered calls to generate more income. Or, if the stock looks particularly attractive, we may just hold the shares outright.

Either way, we’re fine owning NU. This strategy is about accumulating a core position at opportunistic levels — not avoiding ownership.

How It’s Managed

This is a true set-and-forget setup.

• No roll plan. If the stock breaks $11, we get shares — by design.

• Premium is realized at expiration if the stock stays above the strike.

• Covered calls come next — but only once the timing and price are right.

We’ll keep running this trade every few weeks as the opportunity presents itself. Same name. Same strike. Same playbook.

Over time, these small, repeatable moves build real ownership — without chasing, overpaying, or overreacting.

Status: Open

Here’s the full setup:

Entry

Sold ACHR Oct 17 2025 $9 Put (123 DTE)
ACHR251017P00009000

Opened:        June 16, 2025
Entry Price:   $1.31
Exit Target:   $0.31 (To Close)

Underlying:    $10.38
Buffer:        13.28%
Breakeven:     $7.69

Max Risk:      $900.00
Return:        11.11%
Prob. of Win:  ~70%

Profit Target: $100.00

Thesis

ACHR just raised $850 million — not because it had to, but because it could. The company now has nearly $2 billion in cash, fresh commercial partnerships, and a clean path to the 2028 Olympics. But because of the dilution, the stock dropped — and volatility spiked.

That gave us a window.

By selling the $9 strike put, we’re:

• Giving ourselves a 13% cushion below the current price

• Locking in $100 of premium per contract if it decays to our exit target

• Taking the other side of a short-term repricing — and getting paid to do it

This is a name we want to own. This trade gives us a way to accumulate equity exposure without touching cash, and with a high likelihood of success.

What We Did With The Premium

We didn’t pocket the $100. We plowed it straight back into ACHR shares, buying at $10.27.

So even if the put never gets assigned, we’ve already added exposure — using premium, not principal.

This is what Collateral Compounding is all about:

Generate premium → reinvest it into names we believe in → repeat.

How It’s Managed

This is a set-and-forget trade.

• We’ve already placed a limit order to close at $0.31

• If the stock cooperates, the trade will close automatically, with no further action

• We’ve also set a delta alert at 0.60

  • If delta climbs that high, we’ll roll the trade back to a ~0.30 delta strike with fresh time

  • Otherwise, we leave it alone

We expect this to close well before expiration — and if it does, we’ll look to redeploy the capital again. Same name, or new target, we’ll decide then.

Status: Open

Sold REGN Aug 15 2025 $475 Put (63 DTE)  
REGN250815P00475000

Opened:        June 13, 2025  
Entry Price:   $15.40  
Exit Target:   $5.40 (To Close)

Underlying:    $529.24  
Buffer:        13.1%  
Breakeven:     $459.60

Max Risk:      $47,500  
Return:        2.1%  
Prob. of Win:  ~75%

Profit Target: $1,000

On June 13, I sold the August $475 put on Regeneron for $15.40, collecting $1,540 in premium for each contract sold. At the time, the stock was trading around $530. My break-even on the trade is $459.60. I doubt $475 will even be re-tested. I think this position is going to be closing early unless there is more macro noise.

This is a straightforward premium capture setup. I’m targeting a buyback at $5.40, which would lock in a $1,000 profit on each contract I sold. The trade had 64 days to expiration at entry, but I expect to close it much earlier if the stock holds steady and the option decays on schedule.

There’s no plan to hold through expiration or roll. If REGN sells off sharply due to macro issues, I’ll be really happy to own a lot of it at $475. I also immediately deployed the $1000 per contract into a long position in REGN at $530. I think 2-3 years from now I’ll be exiting this position with REGN at $800-900. In the meantime, I’m happy to be paid to wait as Regeneron’s pipeline plays itself out.

Status: Open