r/stockmarket
Finally made all my Investment back after 7 years!!! Part 4
Author hits $300k profit after 7 years, now holding all cash and waiting for a market correction after trading SPY put spreads.
- Author expects a market correction and is holding all cash.
- Author is trading SPY Put Debit Spreads, indicating a bearish outlook on the broader market.
Here is my previous post:
https://www.reddit.com/r/StockMarket/s/oumVeVZ14K
I didn’t think I would hit above 300k this quick, my latest trades have been in 2x leveraged stocks such as NBEX and SPY Put Debit Spreads,
I have been lucky with my “bets”, which at the same time I have gained experience on how and when to place my “bets” based on information I see on X such as Options Flow, Heat maps and news. I am subscribed to an account that provides this data and I do my own judgement and place my “bets”.
As of now, this doesn’t feel real at all. I know I will have to pay a ton in taxes though, I’m currently seeking for financial advice. I am licensed civil engineer and I do this as a side income because I know and my coworkers know too we won’t become rich with our salaries by them selves.
Right now I am all cash and highly considering to stay cash until a market correction happens or something like that, for some reason I’m feeling lost and don’t know what to do.
What would you guys do in my shoes?