Yeah - i tried to join the new one, but it started already. I assume I can't be added to either?
I decided I'm going to sell a lot more covered calls this year. I bought a bunch of XXII and JCP to do this and will try to make $300-$400 bucks per quarter selling these
JCP is not exactly your ideal covered call candidate. I did sell some covered ITM calls on AT&T but the chart got even weaker so I just sold after they expired. Usually want larger stable companies that pay some dividends or not real strong growth companies.
That's why JCP isn't your ideal covered call. The risks that it moves one way or the other are too high. If it moves up you don't get the upside and they are trying to scrape by and avoid bankruptcy. I suppose your option premiums will be higher with the volatility but still not a great covered call candidate.
Which month are you looking at selling?
I'm not because the premiums are too low. I have 40 contracts on XXII coming due in a week. Made $2000 on those because the volitility makes it almost a guess and I can lock in profits. It's a win/win. I don't sell calls on my core positions.
FTK up almost 100% today. Wish they would have told me they were selling part of their business when I bought more of their stock on Tuesday. Overall still in the red on this crap stock.
My bets with JCP. PCG, and MJ have paid off so far (on paper). My shorting of INO has cost money. Glad I sold $1,000 worth of covered calls of XXII because I'm down $1,000 on the stock - so broke even. Tomorrow I can sell anther bucket-worth of covered calls.
Sold DBD at $7 thus week, hindsight should have held but was happy with 60% gain in 6 months.
Bought MDR at $6.93 after a big drop in price this week. Remember kids trying to catch falling knives is dangerous. Will see if I get cut or not on this one.
Still holding FTK will be interesting to see what they do with the $175 million from the sale of 1 of their business. There is talk about a 1 time dividend.
Good luck investing everyone!!!!
Bought MDR at $6.93 after a big drop in price this week. Remember kids trying to catch falling knives is dangerous. Will see if I get cut or not on this one.
Still holding FTK will be interesting to see what they do with the $175 million from the sale of 1 of their business. There is talk about a 1 time dividend.
Good luck investing everyone!!!!
Wish I dumped in more than $3K. The stock is up 120%. Sales growth of 37%. Anyone jumping in or should I call it quits?
