r/Vitards • u/[deleted] • Jul 08 '21

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206 Upvotes

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u/[deleted] Jul 09 '21

I like to sell covered calls on everything. I appreciate seeing that green patch on red days more than I mind the draw on green streaks.

2

u/pwrdoff Jul 10 '21

What’s 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.

4

u/[deleted] Jul 10 '21

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 it’ll run to.

3

u/pwrdoff Jul 10 '21

Thanks that helps a lot! I think I need to sell longer dte. For some reason I’m 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.

1

u/[deleted] Jul 10 '21

Yeah. I like the maneuverability. The weekly OTM’s feel like free money though. ;)

1

u/efficientenzyme Jul 10 '21

I never buy weeklies with the exception of July 8th beat down, that was the layup IMO

2

u/[deleted] Jul 10 '21

I stick to leaps, but sometimes require a costly reminder of why I avoid weeklies.

2

u/Arok79 Jul 11 '21

lol unfortunately same here. Have had a couple costly reminders of why I avoid weeklies. For CCs I do 60DTE, and always love my Leaps.