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Strategies & Market Trends : Calls and Puts for Income

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From: Jim P.	6/22/2012 8:33:37 PM
	Read Replies (2) of 5891

Sold 200 SD 7 August covered calls in IRA. Deviation from plan on selling mostly 8's. Market has a rough summer in front of it IMO. 24 cents premium beats nothing waiting on better pricing on the 8's. Capital preservation more important then expecting price to increase to close to 8 by August. Glad I spread my options out all the way to September when I started selling. I certainly do not know where this market is headed over the next few months. Bottom line it is an emotional decision to deviate to the lower strike price. Still a good return. Maybe I should have been less aggressive to start with and aimed for 6 and 7 for trading options instead of 7 and 8 on SD. Price of oil dictated my change of plan. Jim

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