This study is a tool I use for selling weekly puts at the suggested strike prices.
1. The suggested strike prices are based on the weekly high minus an ATR multiple which can be adjusted in the settings 2. You can also adjust the settings to Monthly strike prices if you prefer selling options further out 3. I suggest looking for Put sale premium that is between 0.25% to 0.75% of the strike price for weekly Puts and 1% to 3% of the strike price for monthly Puts
Disclaimers: Selling Puts is an advanced strategy that is risky if you are not prepared to acquire the stock at the strike price you sell at on the expiration date. You must make your own decisions as you will bear the risks associated with any trades you place. To sum it up, trading is risky, and do so at your own risk.
@Dustin_D_RLT do you still use this script? I sell puts for income, wondering if this still works. Was checking it out for a few securities (e.g., tsla, nke, afrm etc.) and notice it just spams the dollar sign throughout the day.
I mean technically that's fine since it's for weeklies, but do you have a W/L table for this we could see.
Optionopedia
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what is the meaning of the dollar sign on the chart?
Dustin_D_RLT
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@Optionopedia, Those are the recommended days to sell weekly Puts if the premium at one of the 3 strike prices is between 0.25% to 0.75%.
I mean technically that's fine since it's for weeklies, but do you have a W/L table for this we could see.