I’m finally at a place in life where I can max out my 403b and a 457b through my job. I also have excess money (other than the 3-6m in a HYSA) sitting in an individual brokerage account and has mostly been in VTSAX.
I‘ve been playing around with a portion of that money and have finally realized the power of money making money.
I currently plan on moving all of the money to SPY, selling covered calls on SPY for the entirety, and scalping on margin and closing all of my margin positions by the end of the day to avoid interest using tight stops losses. Scalping has been working fairly well for me once I’ve instituted tight stop losses and watching candles closely and riding the momentum.
This almost seems too easy? The covered calls I am selling are of short duration and the strike price I will set (since I’ll be selling 1 day contracts) can’t be beat by the market in the long run.
What am I missing here? Obviously scalping can lose money. That aside, this strategy should be minimal risk from what I can see?