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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: PoetTrader who wrote (2145)	8/20/2001 4:54:53 PM
From: rydad	Read Replies (3) \| Respond to of 5205

"Hey those 52.99 premiums all add up in the end." I agree, I had writen calls on stocks that I have only 100 or 200 shares. The way I see it, if I can make $150 to $200 then subtract the commissions and taking into account taxes, I still make a little bit of money. At least now I have learned to write further out and at least I'll pay less commissions since I won't be writing each month. Do you think a person can make a living off of a simple covered call or selling puts strategy? I asked this question a few times before ( once on a different thread) and most of the people seemed to think it was highly unlikely. They said it was too risky. You seem to write calls often. Is it just a "hobby" to supplement your work income? I'm doing my research now, because it may be a possibility that I may have to rely on call and put writing for some income until I find a new job. So far I have done ok just writing CCs on a small part of my portfolio. I have been writing for more than a year and so far I have only gotten assigned once (my intention is to not get called on shares that I own) and only once did the stock run away from me and I made the mistake of buying the call back. I have learned so much lately. I feel if I write on a larger portion of my accounts and my IRA I should be able to survive. But I do heed the warning of our more experienced friends here on CC4D. I'm just getting worried that there just are no jobs available for me in my field.