$PLTR 20250606 110.0 PUT$ 💰 I Collected $58 Premium for Short-Term IncomeI sold a weekly PLTR put at the $110 strike and collected a $0.58 premium (or $58 total) because I saw an opportunity to generate quick income. PLTR’s weekly options are known to be rich in premium due to high volatility, and I wanted to take advantage of that. In just one week, this trade gives me a solid return on capital while I wait for a better entry or setup.⸻📉 I Believe $110 Is a Strong Support LevelI chose the $110 strike because I see it as a solid support level. Based on recent price action and chart structure, PLTR has bounced from this zone before. I’m confident that if the stock stays above $110 by expiration, I keep the full premium. And even if it dips slightly, I’m comfortable owning it at this level—it’s a price I consider to be fair value or even a bargain in the short term.⸻⚙️ I Like Selling Puts With Delta Above 0.30This put probably had a delta over 0.30, which aligns with my usual strategy. I tend to sell puts where I can maximize premium while keeping a favorable probability of success. A 0.30–0.40 delta gives me a decent chance to either collect the full premium or buy the stock at a discount. It’s a calculated risk I’m willing to take.⸻🧮 I Earned 0.53% for the WeekBy selling the $110 put, I essentially tied up $11,000 in buying power (strike price × 100 shares). But for just one week, I earned $58, which is a 0.53% return. That’s over 27% annualized if I can repeat this weekly. For me, this is a smart way to keep my capital working while maintaining a bullish-to-neutral stance on the stock.⸻✅ I’m Fine Getting AssignedIf PLTR dips below $110 and I get assigned, I’m okay with that. My effective cost basis would be $109.42 after the premium. I could then turn around and sell a covered call at $112 or $115 to reduce my cost further or lock in profit. I’m essentially running a version of the wheel strategy—earning income whether the stock goes up, down, or sideways.