While UWM was trading at $109.90, I sold one UWM July $100 naked put for $4.30 and received $429.75 after paying $0.25 in commission.
I just realized I didn’t address in the video why I sold the July expiration. The nearer-term expirations didn’t offer enough of a premium to make it worth the trade and the longer-term expirations had too much time risk for my goals. By using the July expiration, I was able to sell far out of the money and get a good annualized return.
Here’s the link to the video for my process: https://youtu.be/0nSKnnZFTXM