So I have been doing a bunch of research over the past 3 to 4 months and trading some paper accounts. I also have an investment account holding long-term blue chips and ETFs, along with a Roth IRA and a Roth 401k setup through work.
My goal is not to quit my job and do it full time. I just want to add a little spice to my income and collect some monthly profit where I can. Additionally, I just find it very fun and interesting.
Having said all that, I traded real money last week on some 5 ish DTE broken wing butterfly options. I went 4/4 which I know is a dangerous place to be cause it won't always be the case. I shifted the body of the option (the 2 short put/calls) really far OTM in order to reduce the RR and give me a higher probability of hitting.
I want to keep trading these here and there but my main source I want to be LEAPS/ZEBRA/PMCC setups on stocks like QQQ, SPY, IWM, etc. How realistic is this setup for making small amounts of weekly money? I also can't seem to understand why someone would pick a LEAP call for this over a ZEBRA? I feel like it's a no brainer in the fact that the ZEBRA is a higher delta which nets higher income if the stock climbs, allowing you to sell the CCs closer to the trading price for a higher credit/premium. I may be missing something which Is why I am here.
Thank you to anyone who has some input to give. I'm 31 years old and own a house with a family so not looking for a get rich quick scheme....just want to maybe retire a touch earlier than 65 if I'm lucky.