SummitWealth (@Summit_Options) profile picture

Investor / Option Trader. I hope to share knowledge that can help others become more finanacially educated. My tweets are ideas, not financial advice.

Vancouver
Joined July 2025
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Nearly two years ago I was laid off. Not surprised as the economy was contracting. However I felt at a crossroads with my purpose. We always feel a little imposter syndrome but we have to try things we love. I knew I’ve always wanted to help others with navigating investing.
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This is why prop firms always felt a little crooked to me. The prop firm itself may not be the wrongdoer and I understand not everyone has access to capital, but for me it always begged the question. Why not use my own funds?
I had been in Lanto’s Discord from early 2023 until earlier this year. I defended him from naysayers in the group and on X, distilled his content into guides early on, and built the chatbot that new members used. This weekend’s fiasco confirmed conclusively what OGs had been flagging for some time. Fintwit prop firm influencers are “successful” through survivorship bias and volume, not edge. Buy enough independent attempts and pure luck eventually produces large winners, even when the underlying approach has little or no positive expected value once net on the portfolio is established. Those big runs are the ones that the public gets to see. The average guy in the audience is running 2, 4, maybe 5 accounts on average while paying discord fees to "learn how to trade" Recent public examples among many in the fintwit affiliate and influencer space: @dhesi_trades - 170+ accounts @thebrianstonk - 240+ accounts @lanto_trades - 819+ accounts 5-6 in eval or S2F fees on just one firm. Eventually something hits. The run gets screenshotted and turned into content that's used for the next 10 months of promotions for the group, or pushed in promo videos encouraging use of an affiliate code. The costs typically don't see the light of day. Screenshots get cropped (usually), account numbers are hidden, the actual PNL on the machine is kept private. The machine: 1. subscription fees, course sales, and affiliate commissions fund more accounts 2. more accounts make a big winner close to inevitable 3. the big runs, sell more subscriptions, courses, and garner more aff code use Repeat. The prop firm space is inherently dirty, relies on ponzinomics, and is unfixable; it's by design. But the affiliate and furu space - that props implicitly encourage - is dirtier. Fresh cash from courses, subs, and affiliate payouts keeps the account volume flowing so the occasional big payouts can be marketed as a skill taught to their followers. The trading can lose money, but the machine still wins, because the audience pays for step 2 of the machine. Now look at what's sold. Courses, discord subs, mentorships, and an implied promise to teach a skill to escape the rat race. Learn this IFVG. Take this unicorn. Manage your risk. Trade the system. Don't forget to like, subscribe, and use code DUMB. The average member can't play the volume game and nobody tells them that is in fact their mentor's game. I left for three reasons: the quality of members in the group declined after the TPT run-up and subsequent repeat promotions leveraging that run, OGs who asked questions were treated poorly, and some kept raising exactly the disclosure issues that surfaced this weekend. Buy enough attempts. Hide or minimize the cost. Market the winners as skill. Accept money from people who cannot realistically replicate the process. You can pick whatever word or phrase you want for this machine that is pervasive in this "industry." Mine is "fraud."
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**Credit Spread Trade Idea $AMD ** Sell to Open $AMD 590p Oct 23 Buy to Open $AMD 570p Oct 23 Credit: $6.85 ($685) This is partially a hedge against covered calls I have against $AMD. However, $AMD's recent breakout has shown incredible strength and appears positioned to move towards $650 or higher towards early November earnings. Risk: Midterm elections can add stagnation or volatility to the market which can affect the marketing moving higher but I think AMD will show relative strength as we move towards earnings.
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If you were able to hold these through the week, we are likely to recieve full profit!
**Trade Idea - Weekly Credit Iron Condor $SPX** Buy to Open $SPX 7535 Sep 11 Sell to Open $SPX 7350 Sep 11 Credit: $1.50 We hit the expected move low for the week on SPX/SPY. These strikes are relatively safe but you could raise them for more credit If that fits your risk profile.
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**Trade Idea - Weekly Credit Iron Condor $SPX** Buy to Open $SPX 7535 Sep 11 Sell to Open $SPX 7350 Sep 11 Credit: $1.50 We hit the expected move low for the week on SPX/SPY. These strikes are relatively safe but you could raise them for more credit If that fits your risk profile.
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Continuing to roll these and have added an extra contract as well. This is part of a large position for me, and I am continuing to hedge with short calls / covered calls as it trades sideways. $AMD will have its move again before the end of the year.
Update: I had rolled this position into an Aug 21st expiry. We're right on the cusp. I believe in AMD as an investment. I rarely will close my bullput credit spreads - I often roll them forward unless a stock drops big such as TSLA. This is the risk of holding through earnings. It's often safer to close or have them expire before earnings. But I am comfortable rolling forward if necessary but trade with your own comfort and risk profile in mind. Never let a trade stress you out. #TradingTips
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**Trade Idea Bull Put Credit Spread $MU ** Sell to Open $MU 830 Buy to Open $MU 800 Margin required: $3000 Filled: $4.65 The strategy here is to sell credit on $MU into earnings and ideally this trade is nearly 100% profitable before ER. We don't know what their earnings report will bring but we will remove our risk before earnings. #trading #earnings
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**Trade Idea Aug 14 - $NBIS Long Call** Buy to Open Aug 28 300c Cost: 13.90 It appears the strength in $NBIS is not subsiding just yet, even with the Michael Burry short position news. Call flow is showing positions were opened for a $370 strike in September. If that comes to fruition, that is an incredibly large move. On the daily chart we have NBIS breaking yesterdays top wick. Targets: $290, $290 and $300 (all time high).
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Update: I had rolled this position into an Aug 21st expiry. We're right on the cusp. I believe in AMD as an investment. I rarely will close my bullput credit spreads - I often roll them forward unless a stock drops big such as TSLA. This is the risk of holding through earnings. It's often safer to close or have them expire before earnings. But I am comfortable rolling forward if necessary but trade with your own comfort and risk profile in mind. Never let a trade stress you out. #TradingTips
Trade Idea $AMD Strategy: Bull Put Credit Spread Sell to Open $AMD 500p Aug 7 26 Buy to Open $AMD 490p Aug 7 26 Credit: $3.23
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Make sure you take profit when it hits your target and never let a green take go deep red. $3k was made on this trade. What are you guys eyeing to trade next week?
Trim some if you took this trade. 1/4th at $6.05
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Trim some if you took this trade. 1/4th at $6.05
**Trade Alert (Risky) $SPCX ** Buy to Open $SPCX Aug 21 145c $SPCX has had a lot of momentum lately, and it just broke out on the daily timeframe, so it has the potential to run this week. Have a stop loss in place as this is a naked long call. Target 1 - $143 Target 2 - $145 #trading #investing
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**Trade Alert (Risky) $SPCX ** Buy to Open $SPCX Aug 21 145c $SPCX has had a lot of momentum lately, and it just broke out on the daily timeframe, so it has the potential to run this week. Have a stop loss in place as this is a naked long call. Target 1 - $143 Target 2 - $145 #trading #investing
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**Trade Alert $AMD 💡** Strategy: Bull Put Credit Spread Sell to Open 440p $AMD Sep 4 26 Buy to Open 420p $AMD Sep 4 26 Credit $3.78 AMD has been putting in higher lows on the daily time frame since bottoming from the earnings sell-off. Looks strong, and I believe it should continue to hold, especially if it can break $500 again. #trading #investing #options #amd
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There was news that $GOOGL AI chief is leaving the company, causing the stock to fall. Let's see if it gets bought back up over the next couple of sessions. Don't chase profit; let a setup form. #investing #trading
**Trade Idea $GOOGL** Buy to Open $GOOGL 385c Aug 14 Cost: 6.95 Stop Loss: Under 374 if $GOOGL fails to hold I'd cut the trade Google's had some great strength after rebounding from 350 post earnings and while the market rebound has helped it as well. It looks poised to continue momentum. I think it's got a good shot to hit 385 in the coming days and potentially move back to 400
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**Trade Idea $GOOGL** Buy to Open $GOOGL 385c Aug 14 Cost: 6.95 Stop Loss: Under 374 if $GOOGL fails to hold I'd cut the trade Google's had some great strength after rebounding from 350 post earnings and while the market rebound has helped it as well. It looks poised to continue momentum. I think it's got a good shot to hit 385 in the coming days and potentially move back to 400
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Trade Idea $AMD Strategy: Bull Put Credit Spread Sell to Open $AMD 500p Aug 7 26 Buy to Open $AMD 490p Aug 7 26 Credit: $3.23
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Been a little while for a trade idea - market has been volatile and hard to recommend something of high confidence during those times. Half of trading is knowing when to deploy funds vs not. But I've got a trade idea for today $AMD
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We got a little bounce close to the open, if $SPX fails to hold this bounce, I would close these. We need to hold 7500. If we get a decent bounce and you can sell bear calls for .70 or more I would do this to hedge Sell to Open: $SPX 7560c Buy to Open $SPX 7570c
** 0DTE Trade Idea $SPX ** Strategy: Bull Put Credit Spread Sell to Open: $SPX 7480p Buy to Open: $SPX 7470p Credit: $0.95 You can sell up to 7495, 7500 as the support to aim for around $1 credit. I believe selling for less than .70 credit does not make the risk worthwhile
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** 0DTE Trade Idea $SPX ** Strategy: Bull Put Credit Spread Sell to Open: $SPX 7480p Buy to Open: $SPX 7470p Credit: $0.95 You can sell up to 7495, 7500 as the support to aim for around $1 credit. I believe selling for less than .70 credit does not make the risk worthwhile
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