Anyone sell covered calls as a strategy? Looking into doing this with some cheap blue chip stock but don’t know if the risk/reward ratio is high or if it’s even a profitable strategy.

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Yes I do it quite often. When I have extra capital, I buy 100 shares and sell an ATM or just barely OTM call on weeklies, hoping to get called. If I don’t, sell another the next week. Can usually scalp a few % pretty easily especially in this volatile environment. Peanuts compared to my option plays but singles are better than strikeouts.

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D1- so you sell covered calls and then hope you can offload your shares if the buyer exercised?

Sometimes I buy the shares and sell an ITM or just OTM call to just scalp 3-5% for a couple days. Not usually shares I want to hold long term. For those that are in my portfolio already, I sell further OTM calls.

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There are ETNs that do this routinely. Look for a note with an underlying that has a comparable beta as your preferred underlying, and you can (theoretically) use the ETN’s performance as a rough proxy.

@MCK1: interesting - didn’t know that. Which ones? I’ll try searching today but figured I’ll ask

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