SOFI Reddit Mentions | ChartExchange

Experienced option seller here (\~10 years)
My go to strategies are CSP's, CC's, Bull put and Bear call spreads and strangles. IC is not my fav strategy.
l keep it simple. and 60% of my portfolio is in futures options.
Today I am writing about what i'd do if i was a complete beginner starting with $5k in the options world and how i would grow it to $10k.
i did write a similar post recently on csp but it was taken down due to a reason and after having questions from the audience, i am covering all 3 aspects now. csp, cc and cs's.
Here's a step by step. im not saying you should do this but given my experience in this field, this is how i would start.
step 1 : i would paper trade for atleast 3-4 months t get the feel of the market before putting live money to work.
with a $5k account, you don’t have the luxury of swinging for the fences. you’re not here to double your money in a month.
you’re here to:
* stay alive
* learn discipline
* stack small, repeatable wins
so forget the YOLO weeklies. forget earnings plays. forget SPX 0DTE scalps. your #1 goal is survival.
**phase 1: start with cash-secured puts on low-priced tickers**
with $5k, i can’t afford to sell puts on $AAPL or $AMD — it eats up too much buying power.
instead, i’d sell 2–3 CSPs per month on lower-priced, liquid stocks under $20:
* $SOFI, $F, $T, $CHPT, $PLTR (borderline, but juicy)
example:
* ticker: ABCD
* price: $7.50
* sell 1 put at $7 strike
* collect $0.25 premium
**math:**
* max collateral = $700
* premium = $25
* return = 3.5% in \~3 weeks. theoretically these are the numbers.
at this stage, my #1 goal is consistency. small, repeatable income > random big wins.
3.5% is still not bad to start with.
when im assigned, i will own a stock i wanted to own. the tough part is to find good stocks in that range and thats a difference debate.
my theory is go for big names who have been in existence for years, there are some.
i’d only sell CSPs on stocks i’m willing to hold and wheel:
* liquid (tight bid-ask spreads)
* real businesses (not meme tickers)
* IV percentile > 50
* price under $20 (so i can trade 2–3 at once)
manage risk. i’d only deploy \~60–70% of capital at any time. that’s \~$3,000–$3,500 max out of $5k.
why?
* to leave room for adjustments
* to avoid overexposure if i get assigned
* to protect myself from taking forced losses
if i sell 3 puts on $7–$10 stocks, i’ve got enough flexibility to roll, adjust, or exit if things go sideways.
let’s say i sell 3 CSPs per month, each collecting $25–$40 in premium.
monthly target = \~$90–$120
that’s 2–2.5% on capital, not including rolling or covered calls.
what i wouldn't do with $5k
* buy random OTC puts/calls
* sell naked calls
* sell csp's on high priced tickers
* trade weekly dte
i would rather stay mechanical and get better at this one strategy first.

**phase 2: build diversified wheel positions over time**
after a few months of selling puts and getting assigned, i’ll eventually own 100 shares of 1 or 2 of these stocks.
that’s where the wheel kicks in:
i start selling **covered calls** on assigned positions
more premium = more compounding
**example:**
* assigned on $SOFI at $7
* sell $7.50 covered call for $20
* similar targets etc
now i’m earning on the upside and collecting cash while waiting for recovery. but remember the biggest RISK here is if the stock goes below your cost basis, then you are stuck bag holding. it can happen. in that case you can either close and redeploy or wait for stock to come back.
once i’ve built 2–3 wheelable positions, i’ve got:
* stable collateral
* 2 income legs (CSPs + covered calls)
* exposure to multiple tickers
**phase 3: allocate 20% to credit spreads (defined-risk premium selling)**
once i’m over $7–8k and feel confident with trade management, i’ll start layering in defined-risk spreads.
only 1 or 2 at a time — never more than 20% of my account.
**example:**
* sell 1 SPY put spread (e.g., 440/435)
* collect $80
* risk = $420
* return = 20% if i close the trade at 50% of max profit.
why spreads?
* lets me trade bigger names (SPY, QQQ, TSLA)
* defined max loss
* can be adjusted or closed early
spreads add velocity to the portfolio — but only **after** i’ve mastered CSPs and built a stable base.
# play the long game
this is where most people fall apart.
they:
* overtrade
* oversize
* revenge trade
* chase hype
* ignore risk
i’d do the opposite.
* never deploy more than 70% of my capital
* cut or adjust trades when loss hits 1.5× premium
* roll or reposition instead of doubling down
* close winners early at 50–60%
* journal every trade and review it weekly
it’s boring. but boring makes money.
# income goals
here’s how i’d structure my expectations:
|month|target monthly income|account size goal|
|:-|:-|:-|
|1–4|$90–$120|$5.5k–$6k|
|4–9|$120–$150|$6.5k–$7.5k|
|9–12|$150–$200|$8k–$10k|
|12–18|$200–$300|$11k–$13k|

**final thoughts**
this won’t make you rich overnight.
but it’s real.
if you’re trying to grow a small account, don’t overcomplicate it.
* sell puts on stuff you’d own
* size your trades with respect
* stack small wins
* reinvest your profits
* and for the love of theta — avoid meme stocks

Thanks for reading my content, if you need more help either check my profile or dm me.
Addy

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SOFI
SoFi Technologies, Inc. Common Stock
stock NASDAQ