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Markus, I am having AI run daily reports for me. In the spreadsheet I provide today and yesterday VIX as well as IVR of yesterday and today for tickers I'm interested in. I of course focus on higher IVR for selling premium and lower IVR for buying options. My question, do you have any formulas for what you look for based on strategies. Right now, I'm trying to only sell options when IVR and VIX is less than yesterday but higher than my minimum amount hoping that means it is now pulling in. Selling options right now, is the area I may be weakest on. I choose stocks that fly up, sell a cc, and then focus on managing out of it. LOL

For one, it's really important to keep position sizes and portfolio risk in check diligently. If you're an option seller, it can also help to execute your option sales when volatility is high and close early (at 50% profit for example) when it contracts. We want to work with the dynamics of the market and not against it. Warren Buffet famously said the stock market is a device for transferring money from impatient to the patient. It does this job extremely well. What is working for you in this market? How are you exercising patience and avoiding emotional decisions you'll likely regret later?

I'm still limited on the amount of options ive been selling. Are you going with spreads right now? I have been very conservative and mostly gold, oil servicers, and sgov.

The best way to build passive income from scratch depends on several factors. Our credit score, skills, savings (if any), as well as prior experience all play a role. Why is the credit score important? It is only important in the US or in a country with a similar financial system. Without an average or better credit score it becomes a lot harder to get a real estate or business loan. Don't have a good credit score? No problem, there are still many ways to build passive income (I'll share one below). Passive income is not a get rich quick scheme. We need a solid strategy as well as good execution paired with patience to see results. When I bought my first real estate property, I did not have a good enough credit history nor a stable enough income to get a decent loan from a bank. My parents agreed to co-sign with me, since I had a proven track record with them on being true to my word. This might seem like a handout to some, but they did not help at all with paying my loan or other expenses. I was old enough to manage these responsibilities on my own. I do not recommend co-signing, even if family members are involved. This option should be reserved for very special and low risk circumstances. But I want to share it here as example. Sometimes we have to find an unusual path to acquire the first asset that can generate passive income for us. I did not buy my first property for the purpose of creating income. It was just a practical option I had seen work well for my parents. If I was trying to earn passive income from real estate today, I would look for an affordable property (maybe a condo) which is just good enough for me to live there. I would find a way to buy it for a good deal and rent all rooms except for mine out to roommates. There are two strategic reasons for doing it this way: 1. Banks are more likely to give you a good loan on a property you plan to occupy yourself. 2. Roommates help with freeing up cash flow, so I don't need to use all of my active income for paying bills.