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Started to do Covered Call writing because of you. Was more of a "day trader" and breaking somewhat even and wanted something in the background making money. Found your covered call and it just blew my mind how simple and effective it was. Now I've completely reverted to almost a PMCC, wheel strategy, Call writing strategy purely and only day trade when its just to simple to mess up! Thank you so much for your insight. Also love the spreadsheets!
Charlie, there's something that's been on my mind for a few weeks. Risk management, aka stop losses. It’s not a topic I’m seeing in the RUclips community regarding Options. As an example, I’m holding stock in Chargepoint, because I want to start positions in the EV space. The problem is that it’s falling like a rock - possibly due to a short attack. Had I simply been holding the stock, without selling an option, I’d have put in a stop and avoided the larger decline. Is trading options than fundamentally different in this regard than holding a stock and setting a stop? Thank you,
Thanks for the update Charlie. i like your strategy. i usually roll my covered calls when they get to about 50%, but im having mixed results. gonna try letting them expire like you do.
Hey Charlie, I understand most points of your covered call strategy but one question/observation. Let's say you start a cc in which the stock decreases the first week, lets say 5% -- week #2 you reup your short term call and then the stock rebounds back the 5%. Its quite possible your shares will be called away resulting in an overall 2 week loss. How do you account for this?
I did a quick estimation of an equivalent S&P 500 index portfolio (just as a sanity check, not necessarily because you should be comparing to that). It you would have invested in the S&P 500 index with the same numbers starting last December with 200 each week, you would have about 12400 now. That is about a 12.7% gain. So, you are handily beating the very strong S&P results. I am not clear on how taxes would affect that. And your performance is being affected negatively by picking some stocks that are going down in value. That might be an indication that the strategy will work in a slightly bearish to neutral market.
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📝 JOIN MY EMAIL NEWSLETTER FOR RTFF PORTFOLIO UPDATES
moremoneylessproblems.ck.page
📈 SPREADSHEETS, TRADING NOTIFICATIONS, AND MORE VIA PATREON
www.patreon.com/moremoneylessproblems
📈 GET UP TO 6 FREE STOCKS BY SIGNING UP FOR WEBULL USING MY REFERRAL LINK
a.webull.com/i/MoreMoneyLessProblems
(Stocks valued between $35 and $12,600. Promotion ends June 9, 2022)
Started to do Covered Call writing because of you. Was more of a "day trader" and breaking somewhat even and wanted something in the background making money. Found your covered call and it just blew my mind how simple and effective it was. Now I've completely reverted to almost a PMCC, wheel strategy, Call writing strategy purely and only day trade when its just to simple to mess up! Thank you so much for your insight. Also love the spreadsheets!
How are the returns for you Brother?
Charlie, there's something that's been on my mind for a few weeks. Risk management, aka stop losses. It’s not a topic I’m seeing in the RUclips community regarding Options.
As an example, I’m holding stock in Chargepoint, because I want to start positions in the EV space. The problem is that it’s falling like a rock - possibly due to a short attack. Had I simply been holding the stock, without selling an option, I’d have put in a stop and avoided the larger decline. Is trading options than fundamentally different in this regard than holding a stock and setting a stop?
Thank you,
Thanks for the update Charlie. i like your strategy. i usually roll my covered calls when they get to about 50%, but im having mixed results. gonna try letting them expire like you do.
Thanks for the update. I always look forward to these
Good to see you Charlie, keep up the great work
Awesome video!! I always look forward to these.
Hey Charlie, I understand most points of your covered call strategy but one question/observation. Let's say you start a cc in which the stock decreases the first week, lets say 5% -- week #2 you reup your short term call and then the stock rebounds back the 5%. Its quite possible your shares will be called away resulting in an overall 2 week loss. How do you account for this?
Thank you Charlie. Very good strategy 👍🏾
Great video man. I subbed
I did a quick estimation of an equivalent S&P 500 index portfolio (just as a sanity check, not necessarily because you should be comparing to that). It you would have invested in the S&P 500 index with the same numbers starting last December with 200 each week, you would have about 12400 now. That is about a 12.7% gain. So, you are handily beating the very strong S&P results. I am not clear on how taxes would affect that. And your performance is being affected negatively by picking some stocks that are going down in value. That might be an indication that the strategy will work in a slightly bearish to neutral market.
Could buy the SPY and sell calls on it once it gets over 40k in value >:)
Do you also sell puts (do the Wheel)?
He doesnt and He also Made a video about why not
@@marvingiehl thank you.