Options puppy options strategy one earn $300 every contract selling weekly covered calls

📈 Why I Use the 1-Hour Chart to Sell Weekly Calls on PLTR

A Tactical Strategy Balancing Premiums and Protection

When trading options on a high-IV stock like Palantir Technologies Inc. (PLTR), timing is everything—especially for short-dated covered calls. I often use higher-frequency charts, specifically the 1-hour timeframe, to identify precise support and resistance levels that help me optimize my weekly call writing strategy.

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🔍 Why the 1-Hour Chart?

The 1-hour chart offers a finer lens on price behavior compared to daily candles. It reveals short-term consolidations, fakeouts, and breakout attempts that I can act on within the week. This chart clearly shows:

• A recent resistance zone around $135.5 – $136, confirmed by multiple candle wicks (notably the peak at $135.62).

• A swift rejection following that level, validating it as a near-term cap.

Rather than guess, I use this chart to make data-driven decisions on strike selection.

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💰 $135 Call Strike: A Sweet Spot

With PLTR testing but failing to hold above $135.50, I view the $135 to $136 zone as a strong ceiling in the short term. So when I want to sell a weekly covered call, I go for the $135 strike.

Why? Because it:

• Is just under resistance, giving a high chance the option will expire worthless.

• Still earns a solid premium—in this case, around $3 for a 4-day expiry. That’s a ~2.2% return in less than a week on a $135 stock.

• Offers partial downside protection through the collected premium.

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⚖️ Risk-Reward Balance with Short-Term Trading

Using the 1-hour chart supports a higher-frequency trading approach. I don’t hold options for weeks—I react within days. Selling weekly calls based on short-term resistance allows me to:

• Lock in high premiums when volatility spikes.

• Capture repeatable income, especially in choppy or range-bound conditions.

• Avoid getting called away too soon while still generating yield.

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🧠 Strategy Summary

By identifying near-term resistance like the $135.50 level on the 1-hour chart, I can tactically sell the $135 call for a $3 premium with 4 days to expiry—balancing income with short-term technical awareness.

This isn’t gambling—it’s calculated, chart-based positioning. And in a stock like PLTR, where price swings are common and IV is high, that edge matters.Would you like a version explaining how this fits into your overall options income strategy with PLTR?

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