Fender's final approach to retirement.

[fenders53]

(01-04-2022, 03:30 PM)NilesMike Wrote:

(01-04-2022, 09:08 AM)fenders53 Wrote:

(01-03-2022, 11:03 PM)NilesMike Wrote: 100% agree regarding Vanguard. They are so old and stodgy it's brutal to do much more than buy and hold or covered calls with them.

I tried with them but got totally frustrated.

I have 1000 option trades with Vanguard but they are simple.  I will mostly keep them simple but it's ridiculous I can't do a spread.

Move some money over to TD to use TOS and trade more spreads. SPX spread,  for your final retirement approach, 31DTE 4900/4910 call spread pays 2.80, 7.25 risk.

Way better return than doing covered calls on the ETF.
Good luck either way

I am holding index ETFs from now on anyway so they will get calls sold against them when it seems to make sense.  I was beating the SPY most of the year and then got stuck with a ton of cash and fell short.  Wasn't willing to chase he market too high.  Wasn't a bad year at all but I am going to simplify this.  No problem doing some spreads in Schwab where all of my IRA is headed soon.  Some is leaving tomorrow.  I did some major cleanup on the port the past week getting ready. I've had good results selling puts on some select SPACs and LOTs of other stuff I don't want to own much.  Pushed my luck long enough because you know I'd get bit eventually.  I cut 25 tickers the past 6 months.  I like it better when I know what I own is quality and could turn off the computer for a month if I desired.  The results were good and way too much attention required.  I'll find my happy place.