👻 I've Done This Side Hustle Since July (not financial advice)

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If you’re new here, we turn $1 into thousands building these weird but simple side hustles. Welcome to Ghost Business 👻 Your (mostly) weekly email

TLDR;

• Options trading (not financial advice)

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I normally would never talk about this but people have been DMing me what I actually do for some side hustles and this one has been a money maker since I started.

It’s about options trading, I’ve made $4,532 since July for about 1 hour of work a week.

I want to emphasize 2 main things before I get started:

1. This is NOT financial advice, just something I’ve been doing.

2. You can absolutely lose your shirt and a ton of money on this

I got into this because I quit my job but still wanted to make some sort of money to fund my main hustle: Creating a $10k/mo Local Newsletter (kidfriendlyseattle.com)

Options trading

Is buying and selling contracts that give you certain rights on a stock without owning the stock. Two basic types:

1. Calls (when you think the stock will go up)

• A call gives you the right to buy a stock at a specific price (the strike) before a certain date.

• Upside: profit can grow a lot if the stock jumps.

• Downside: you can lose the entire premium you paid.

2. Puts (when you think the stock will go down)

• A put gives you the right to sell a stock at the strike.

• Upside: you profit if it drops.

• Downside: same thing: you can lose the entire premium.

What I trade

I’ve tried various options but the ones that make me money is Gold (AU) and Silver (SLV)

The same method has been working for me every time:

• Wait until either price goes down 3-5% in a day

• Buy a call option for about 6 months in the future slightly above the current price.

• Sell the option when it hits between $500 and $1000 in profit

• Repeat

🚨 I’ve also lost $3k trading options outside of Gold and Silver. But when I stick to those 2 stocks and sell at the right time, it prints money.

p.s If you found this insight into the newsletter industry valuable, imagine how helpful it could be to someone else dreaming of starting their own hustle!

Hit the share button below to pass this on to a friend, colleague, or anyone who's ever thought about turning their passion into profit.

Viability:

1 [building spaceships] 🚀 to 5 [easy peasy] 😊 

I honestly don’t recommend this for most people because it takes patience and sticking to a system. But when it works, hot diggity it works!!

(As usual each business will have it’s own setbacks, and it’s all about the execution and consistency rather than just having the idea)

It’s a great day to be great!

Love, Mike 👋