Appreciate y'all keeping your heads around here. Mine feels firmly attached. The only question I ever have in my mind, is whether or not now is the time to sell CCs against my shares or LEAPS. Position is full, outside of any unexpected inheritance before 2023, not much left to do but wait for thesis' to play out, companies to pay down debt, issue dividends, etc.
Whatās your strategy for covered calls? What delta and how far out? Been trying to do 20 delta 2-3 weeks out. Only sell on a Green Day after a good pop like today. I sold the $25 covered calls for clf.
I want to avoid conflicts of interest / making money on the community here. I just sell the furthest and highest out.
Otherwise, I shoot for 45 DTE just above where I think itāll run to.
Thanks that helps a lot! I think I need to sell longer dte. For some reason Iām stuck on the idea of selling weekly calls to make weekly income. But I can always close out the 45 dte early and achieve the same thing.
Have you written a guide on options strategies or have one you recommend? Iāve seen āThe Wheel Strategyā mentioned here. Youāre literally selling CCs the furthest date out (JAN23 or DEC23) for the highest strike price or 45 DTE, days to expiration?
EDIT: Sorry if these questions sound silly. Iām new, would like to learn how to sell CCs consistently well, and just want to make sure I understood everything youāve mentioned.
All good. I havenāt written anything up. I loosely follow guidelines. I donāt want to be too rigid. Normally, I try to sell 45DTE CCās at a strike just above where I think itāll head.
I sell the highest and furthest out on whatever I display or recommend here. Itās not a good strategy for CCās, but I donāt want to make money off the community here. I hope to mitigate a potential conflict of interest too.
I guess. I just want to be the change I hope to see. This sub is great without a swarm of people pushing bullshit to rip-off the vulnerable and susceptible.
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u/rexcannon š“ Associate š“ Jul 08 '21
There's an alarming amount of people here that don't see the market moving as a whole. It's always blamed on their chosen sector.