Anyone still alive here?
Hey yea this is like 5 months after the last post but I am very intereste in covered call writing. I started purchasing stocks with large dividend yields because they were so cheep when the market was down, now that things have rebounded my pool to pick from is much smaller so I have started to purchase outside that category with the hopes of creating a type of synthetic dividend from covered calls. Any thoughts?
I have been trading cc for a couple of years and am happy with results.I would like to share ideas with other cc traders. Anyone else interested?
I have read a lot about options and different strategies, but what is a good source for picking. Not sure if I say picking stocks or picking options. But right now I am keeping my ear to the ground and listen to others suggestions. Where can I learn info on how to pick my own stocks to do covered calls on.
I like your method, it's what I have been doing for a couple of years now. I have accumulated a few good div. paying stocks I plan to hold then I sell cc out of the money and add a little extra profit.
As you mentioned I also look for stocks to buy sell ITM CC with all intention of stock getting called away, risk is smaler profit is quick and you move on to the next one.If you pick the right stocks even if market tanks as it has last few days well postioned stocks will come back.
I have discovered a few stocks that I have been able to use over and over, some with div that I end up collecting;
VZ pays a nice div. it seems to roll between 30+ and 33 I have accumulate some and continue to sell cc every month OTM over 33 pick up div and .20 to .25 on cc.
Right now I am looking at TOT buy @ $60.15 sell feb cc @ 60 for $2.10 , $210 profit and the stock gets called away.
Of course we all know the down side is if the stock drops below 60 or worse yet below 58 ( buy 60-2 for cc =58 invested) thats why I think there is less risk in stable co's