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Tad***com

02/20/2021 06:56

$Churchill Capital Corp IV Hello. I bought in late at $54 per share. I have collected $2156 in covered call option premiums this week from this stock and i still own the underlying stock bringing down my price to $32.44 per share. I may buy back the option and close my position and sell another covered call or maybe not. Ive already collected $2156 in premiums - keep in mind i bought in at $54 and the stock closed at $54.40 after hours and this week i still made $2156 in premiums that i already collected. If I simply bought the 100 shares and did nothing, i would simply have my 100 shares and think well that’s nice it is up 40cents. instead i collected $2156 and still own the underlying stock and im thinking, wow three hours of work writing calls, buying back my calls at a lesser price, then writing another cover called and collecting hefty premium, and rinse and repeat. No wonder warren buffet makes money on options even if at the end of the week the price stayed the same as the beginning of the week.

Learn how to sell covered calls or learn to sell puts to get the stock at a discount. Im not a financial advisor . im just saying that some simple knowledge is power. Sending good vibes your way.
Disclaimer: The comments, opinions and analysis expressed herein are for informational and educational purposes only and shoulk not be considered as individual investment advice or recommendations. Webull is not responsible or liable in any way for comments posted by pur users.

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All Comments(3)

nat***com02/20/2021 07:45
I don't even know how to execute a cover call, or what it is really. I do have 70 shares at $33.70 though. A buddy at work was talking about cover calls. I really need to research that.

Tad***com02/20/2021 07:51

Youtube selling covered call option

Tad***com02/20/2021 07:50

Hello You meed to own 100 shares to write a covered call

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Noahk02/20/2021 07:08
What calls did you sell

Tad***com02/20/2021 07:27

Read the bottom post first

Tad***com02/20/2021 07:26

The option back for $35 to close the position . So my profit was now $616. Next i wrote a covered call for $55 Expire march 19 and sold it for $1540. Bringing my collected premium this week for this stock to $2156. This lowered my basis from $54 per share to $32.44 per share.

I dont mind of the stock gets called away as the strike price is $1 more than my purchase price. chances are i will see opportunities to buy back an option to close the position and open a position that will bring in more$

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Noahk02/20/2021 07:07
Covered calls are great on long holds forsure, well done brotha

Tad***com02/20/2021 07:31

Thank you

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