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Conservative option strategies, what did you buy or sell today?
#51
Ok, so selling covered calls on most of your port has a potential downside. What good are you guys if you don't warn me the market is going to run up for 10 weeks and counting? I thought Great Depression II was coming? Smile

Seriously though, I put myself in a tight spot the past few months. Sell a call for $200 and then buy it back a month later for $1000, then try to find an appropriate new future call to sell immediately at a strike price and date you like, and get your money back for now. I tap danced my way out of MO, BAC, HD with no harm done because they eventually took a breath. I am a jam with AAPL right now. I'm not losing money, but it's been a BIG hassle to keep my shares for sure. The put selling income game is working fine of course, because the market is up. A chimp could make income selling puts right now.
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#52
Guess it's time for a little update from me.
Sold a put that expired worthless last week. Super safe one with UBNT, I think I gained around $90.

Still holding those WBA shares, no calls sold on them currently since it just makes no sense. Once I start to get some premium on weekly / biweekly calls with a strike between $65 and $70 then it's time to start selling those and hoping that one day I get to exit with a profit. A great example of a decently priced company with a great history that just decides to go down over 15% in a couple of days right after I put my money in. This is definitely not an effective use of money. Big Grin

Covered call in AMAT expiring on the 22nd, strike of $39.50.
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#53
(03-16-2019, 12:59 AM)crimsonghost747 Wrote: Guess it's time for a little update from me.
Sold a put that expired worthless last week. Super safe one with UBNT, I think I gained around $90.

Still holding those WBA shares, no calls sold on them currently since it just makes no sense. Once I start to get some premium on weekly / biweekly calls with a strike between $65 and $70 then it's time to start selling those and hoping that one day I get to exit with a profit. A great example of a decently priced company with a great history that just decides to go down over 15% in a couple of days right after I put my money in. This is definitely not an effective use of money. Big Grin

Covered call in AMAT expiring on the 22nd, strike of $39.50.
The time of the covered call shall return!  Surely sometime soon lol.  Your WBA story is about the same as my new CVS position.  They have completely missed the bull run of late.  I won't say I won't ever sell a covered call with a strike under my cost basis, but I will be more wary.  It's better suited for stocks like KHC, or anything range bound with little chance of an upside explosion.  I'd try it on CVS if it climbed near my entry price.  CVS and WBA are too undervalued IMO to try it now.  I seriously may have to fight for six more months rolling calls forward to keep my AAPL shares.  If it runs another $20 fast I might as well let it go.  You can only get so much money back selling time. The market is acting like AAPL is about to blowout earnings.  I highly doubt that since the analysts were still downgrading them six about weeks ago.  The market is such a game in the short-term..... a game like roulette comes to mind. Smile

PFE has become one of my consistent easy income plays.  I end up selling a put several times a month and they have expired worthless every time. as long as you sell the put on a dip.  I still sell Ute puts but backed way off on that.  I'm not going to get stuck with 10 separate contracts of over priced Utes.  As much as I like them, they are no longer a bargain. I don't want to nullify all the income I've generated with a bad entry.

I would love to sell a BA put as the premiums are extremely good, but I think that would be a gamble considering the price of 100 shares.  That has to be the result of the big institutions buying insurance against their huge BA positions.  The put volume is crazy high.  I'll probably just buy some shares long and call it a day.  That would be MUCH more tempting under $350.  I don't like the risk-reward from right here.  The airline world is going to ask BA for compensation soon.  They'd be foolish not to.
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