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I'm thinking about selling a put on SOFI to start a wheel on it. 10 MAY 24 $7 strike pays $55. With no hit that's a 7% return in a month on $700.
if there is a hit, I get SOFI for $6.50/share and can sell CCs at 7 until I lose the shares.
The only thing that concerns me is a massive market dump that sends SOFI to the $4 toilet along with everything else.