My Risky TQQQ Trade: How I Captured $1,400 in Weekly Income with Covered Calls

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My Risky TQQQ Trading Strategy Paid Off Big Time

In the world of high-beta ETFs, few deliver adrenaline like TQQQ — the triple-leveraged ETF based on the Nasdaq-100. Recently, I took a riskier route than usual, experimenting with a short-term covered call trade. The result? Over $1,400 in option premium (juice) in one week.

Here's a transparent breakdown of the strategy, execution, and key takeaways for investors interested in income trading with leverage.

The Setup: A 2-Week TQQQ Play

Typically, I avoid short-duration trades due to their whipsaw risk, but this time I bent the rules. I initiated a covered call trade by purchasing 10 contracts of the 31 strike calls, two weeks out. The position gave me exposure to TQQQ at a low cost with nearly a 1.0 delta, meaning these options moved almost 1:1 with the stock.

Then, I sold 10 calls at the 39 strike — way out of the money at the time.

“The ETF was trading around $41 when I entered. Now it’s pushing $50. This trade moved faster than expected, which is why it worked out.”

The Strategy: Selling the Juice

The core goal of my system is simple: capture extrinsic value, or what I call "the juice." These are short-term options that decay rapidly, especially in volatile environments like TQQQ.

I earned about $1,100 upfront, and as time went on, the juice (extrinsic value) in the 39 calls rapidly decayed. With very little premium left and the ETF shooting upward, it was time to roll.

The Roll: How I Locked In More Income

Rather than letting the position expire or rolling all the way up (which could lead to losses if the market dropped), I decided to roll halfway up.

Step-by-Step Roll:

Bought back the 39 calls at practically no cost (~$0.05 per contract).
Sold 10 contracts of the May 2nd 45 strike calls, picking up $144 in premium per contract.
Total premium collected: $1,440 for the week.

This gave me:

A buffer of $5 of downside protection, thanks to the intrinsic value.
Fresh income (juice) to lock in regardless of stock direction.

Why Not Roll All the Way Up?

In leveraged ETFs like TQQQ, volatility is both an opportunity and a trap. Rolling all the way up might seem attractive, but if the ETF drops sharply, you’re left vulnerable.

By choosing the 45 strike (instead of matching the current 49 price), I:

Avoided a potential whipsaw loss.
Preserved a safe in-the-money cushion.
Still earned excellent premium.

“My goal is not to be greedy. My goal is consistent income with managed risk.”

Life-Improving Tips for Options Traders

Use Delta Smartly
High-delta options move like the stock — great for mimicking ownership without the full capital outlay.
Juice is the Goal
Focus on extrinsic value, not stock direction. It allows for steady income even in volatile markets.
Roll Smart, Not Hard
Avoid rolling all the way up unless the trend is stable. Halfway rolls can help prevent whipsaw losses.
Be Patient with Expiration
Time decay accelerates in the final hours. Waiting until late Friday often maximizes income.

Frequently Asked Questions

Q: Why choose TQQQ for this trade?
A: TQQQ’s volatility means more juice in its options — perfect for weekly income strategies.

Q: What if the ETF drops significantly?
A: The intrinsic value in the trade gives you a buffer. If the ETF stays above your strike, you’re still in profit.

Q: Isn’t this risky?
A: Yes — leveraged ETFs carry added risk. That’s why position sizing, rolling smartly, and staying in the money are key.

Call to Action

Want to turn option income into your weekly paycheck?

Visit cashflowmachine.io to learn Mark’s complete covered call system
Subscribe to Mark Yegge’s YouTube Channel for real-time trade examples
Get Mark’s Free Insider Tips Newsletter for weekly trade ideas and market updates

Get started today

Conclusion: Risky? Yes. Rewarding? Absolutely.

This TQQQ experiment reminded me why I love this strategy. It’s not about predicting market moves — it’s about managing risk, capturing weekly premium, and building cash flow.

You can wait for the perfect moment... or you can learn to create your own paycheck with smart trades like this.

Stay safe, stay in the money, and always go for the juice.

My Risky TQQQ Trade: How I Captured $1,400 in Weekly Income with Covered Calls

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