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Most traders think you have to choose: Either trade options for income, or buy shares for upside.
But when I’ve got real conviction on a name — the kind where the chart is screaming and the setup is clean — I don’t pick sides.
I run what I call “The Triple Play.”
It’s not fancy. It’s not new. But it lets me collect premium, own the stock and keep upside exposure all at the same time.
Let me walk you through how it works, using a live example that just played out beautifully.
The Three Pieces of the Play
Here’s the structure: I sell cash-secured puts, hoping to get assigned the stock while collecting premium upfront.
If I get the shares, great — I wanted them anyway. If I don’t, I keep the cash and move on.
But here’s the thing: I don’t want to miss the upside while I’m waiting, so I also buy a couple hundred shares outright.
That way, if the stock rips before I get assigned the shares, I’m already in and participating.
Then, I sell calls against some of those shares — but not all of them. I want the income but I also want to leave room for a big move.
This flexibility is key.
If a position isn’t where I want it yet, I can roll it forward instead of closing it. I’ve done that plenty of times — rolled forward strikes and expirations without adding more size, keeping the trade working while the trend develops.
Managing options dynamically like that keeps me in control of the timeline.
And while all this is happening, I’m still holding a core chunk of shares.
Sometimes I’m riding thousands of shares while I wait for premium plays to come to me, which keeps me exposed to the bigger move without having to force assignments.
That’s the triple play: puts for assignment and premium, shares for participation and calls for extra income.
It’s how I stay in the game no matter what the stock does.
How It Played Out on Broadcom
I got Broadcom (AVGO) stock assigned to me at $345. The moment that happened, I turned around and sold the $360 strike call expiring this Friday for $248 clams.
That was a gift.
These kinds of combinations give me multiple ways to win and make the whole structure far more powerful.
Meanwhile, I’ve rolled forward other contracts when needed instead of closing them — keeping the trade alive without adding size.
And I’ve held onto a large base of shares through it all, letting me capture the bigger moves even when I didn’t get put anything that week.
Now I’m collecting on three fronts: premium from the put I sold, shares I own at a price I liked and call premium on top of those shares.
If AVGO keeps climbing, I’ve still got uncovered shares riding the move.
If it stalls, I’ve already banked premium on both sides. And if it pulls back? I’m holding shares I wanted anyway and I can sell more calls next week.
This is the kind of setup that gets me fired up. The trend is clean, the premiums are rich and I’ve got three ways to win.
When I see a chart that’s got my name written all over it, I don’t hold back — I layer the play and let the market pay me from every angle.
Trade well,
Jack Carter
Jack Carter Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
PS. A New ‘Income Glitch’ Opportunity is Flashing As We Speak…
This market anomaly occurs on some of the biggest stocks in the market.
And the newest “income glitch” opportunity that just triggered…
