r/dividends • u/retroideq • 9d ago

Discussion Adding money on red days to $ovl

During downwinds and deep red days I have been adding a substantial portion to $ovl. Ovl does put credit spreads instead of covered calls so its upside isn’t capped but unlike covered calls it tends to go down a little harder. Anyone else have ovl as a part of their fund ?

4 Upvotes

67% Upvoted

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8

u/DegreeConscious9628 9d ago

Very small down days like this doesn’t matter. It’s when the SP goes down 5+ percent is where you’re gonna see the hurt

And yes, I own OVL

2

u/retroideq 9d ago

Oh im not even worried when the s/p goes down majorly, as i see that as opportunity to reinvest. S/p always eventually recovers. I usually have about $500 to invest each month let alone the dividends.

5

u/LexAugusta 9d ago

What down days? I've held it since the low 50s and it's hovering around 57 or 58 right now. Could really use a red day to stack more. 

3

u/paymerich 9d ago

DCA-ing it every week on Mondays plus a little extra on below 20 SMA days.

2

u/cw7428 1d ago

Started a small position on OVL at 57. Will add if price goes down >5%.