I'm all back in after panic selling 2,000 shares on capitulation day. I lost 327 shares with that winning move. So about a $52,000 loss so far at this stock price. I'm hoping to be able to make it back selling weekly calls on about 4,000 shares. I would like to stay real conservative and not sell below 20% of whatever the current stock price is within a week of DTE. I'm hoping for about a $1,000 a week. I also have an additional 1200 shares I could sell CCs against. Would it be better to sell more contracts at higher strike prices? Is $1,000 a week doable without much risk?
If I can pull this off and get some experience and confidence, I was hoping to be able to retire on selling calls without touching the principle. This is all in a Roth so I would have to make enough to live on after paying income taxes and the 10% penalty. I still have about ten years before I can pull money out of my Roth without paying taxes.