Can ChatGPT Help You Make Money in the Stock Market?

About this Video

• Video Title: Can ChatGPT Help You Make Money in the Stock Market?
• Channel: Passive Income, Covered Calls & Stocks
• Speakers: Mark Yagi
• Duration: 00:16:45

Introduction

This video demonstrates how the speaker uses ChatGPT to identify suitable stocks and options for generating passive income through covered call strategies. The focus is on maximizing the "juice" (extrinsic value) of options for a consistent 1-2% weekly return.

Key Takeaways

• ChatGPT as a Stock Screening Tool: The speaker uses ChatGPT to identify high-quality growth stocks meeting specific criteria (e.g., short-term uptrends, good products/services, strong long-term outlook). The prompts are shared so viewers can replicate the process.
• Covered Call Strategy Focus on Extrinsic Value: The speaker emphasizes focusing on the extrinsic value ("juice") of options rather than the entire premium, aiming for a predictable income stream.
• AI-Assisted Analysis Workflow: The video outlines a multi-step process involving ChatGPT prompts for stock selection, fundamental criteria analysis, covered call analysis (including ROI on time premium), and finally, manual chart review to confirm the AI's findings.
• Risk Management through In-the-Money Options: The speaker advocates for selling covered calls slightly in-the-money to mitigate downside risk when the underlying stock price drops.
• Realistic Return Expectations: The video suggests achievable returns of 1-2% per week, translating to significant annual returns (50-100%) through consistent application of the strategy.