John, Nope, I never did it. The market started rising about the time I wrote that note and I kept expecting a retrace. Since I am nearly always too early, that wasn't an unreasonable expectation. But, this time, the market climbed a wall of worry and I was waiting on the ground with a safety net while it planted a bullish flag on Everest. <G>
The strategy is great, but, currently, option premiums suck. For a sale of these low, low premiums to work for me, I would need dirt cheap stocks. I now consider the general market, where I would be playing using Leaps for tax purposes, fairly valued, if not a bit pricey.
And, with option premiums cheaper than a pregnant hooker, I am just much more comfortable buying puts and calls than selling them. |
