The portion of my port dedicated to this income strategy mostly remains on the sidelines collecting interest. I don't like it but I am trying to be disciplined and not force a trade. FEB income will be down some for sure. Day off from work so I managed to pull off a few option sales.
Sold a covered call on the following. Well enough out of the money and smallish premiums so I will spare you all the details. T, MET, BP, BMY. They have all run up some and I highly doubt they fly much higher real soon and make me sorry.
The HD situation is considerably more interesting as I have been dancing around the recent volatility trying to make some monthly income but not lose my shares and dividend. This is a core holding. Two weeks ago I sold the HD MAR15 190 call for $626. That was a roll forward, not $600 profit. But that was last week and HD dipped about $8. I retired that call today for $55 on this mornings dip so that worked out well. The call expires MAR 15th and the risk/reward is gone so I took the profit. HD recovered a few hours later and I sold an APR 190 call for $205. I'd much rather sell a $195 strike but it's not meant to be right now. That would require entering a date range that violates my thesis of when the BIZ is very likely going to be good or bad. The HD goal is hold the stock through the ups and downs, never miss that new fat dividend, and try to scrape another 8-10% annual income with my option shenanigans I consider conservative. Even if it raises my pressure sometimes trying to avoid being exercised when the stock runs.
Thanks for looking over my shoulder Crimson. I ask myself what you would think before I pull the trigger lol.
Seriously though I will always be honest here. I appreciate that you actually read my posts seriously and understand what I profess to be my goal. I will never stop learning from my mistakes, and publishing my decisions in advance causes me to be less impulsive.
Sold a covered call on the following. Well enough out of the money and smallish premiums so I will spare you all the details. T, MET, BP, BMY. They have all run up some and I highly doubt they fly much higher real soon and make me sorry.
The HD situation is considerably more interesting as I have been dancing around the recent volatility trying to make some monthly income but not lose my shares and dividend. This is a core holding. Two weeks ago I sold the HD MAR15 190 call for $626. That was a roll forward, not $600 profit. But that was last week and HD dipped about $8. I retired that call today for $55 on this mornings dip so that worked out well. The call expires MAR 15th and the risk/reward is gone so I took the profit. HD recovered a few hours later and I sold an APR 190 call for $205. I'd much rather sell a $195 strike but it's not meant to be right now. That would require entering a date range that violates my thesis of when the BIZ is very likely going to be good or bad. The HD goal is hold the stock through the ups and downs, never miss that new fat dividend, and try to scrape another 8-10% annual income with my option shenanigans I consider conservative. Even if it raises my pressure sometimes trying to avoid being exercised when the stock runs.
Thanks for looking over my shoulder Crimson. I ask myself what you would think before I pull the trigger lol.
Seriously though I will always be honest here. I appreciate that you actually read my posts seriously and understand what I profess to be my goal. I will never stop learning from my mistakes, and publishing my decisions in advance causes me to be less impulsive.