Covered Calls for Beginners:
Stop settling for ever-decreasing dividend yields and bank CDs which pay less than 1%... and start making your investments work for you again…
I rethought my whole approach to options
I had traded options before back in the '90s , but concluded then that I could never beat the professionals as by the time you found out information and picked up the phone you had already missed it or been smashed. I concluded I was gambling rather than investing. However until I read this book I hadn't really rethought my approach. These days I am a long term investor with many holdings. This book opened my eyes to leveraging traded options on these long positions. I do have a couple of reservations in Chapter 5 the author talks about asymmetric risk. Translated this is the known fact that stocks spend most of their time doing very little but with occasional big moves. In the book the author illustrates the profits to be made assuming you continually write calls 12x per year. However this means that you would eventually get caught out by one of these swings and lose your long position (pretty much 100%). The author does cover a number of techniques both technical and practical in the following chapter to avoid this, but it makes the projected return s over optimistic. This is a minor quibble really. This is not a passive investing strategy very far from it: however it is well written and thorough strategy.
What a great book!
Right after the turn of the century, I was laid off from a very large company and wasn’t able to find another job due to my age. I drank the cool aid and spent $10,000 learning to trade options. I used $10,000 to buy Call options and made $20,000 in three months. Then the market went flat. I lost it all trying to wish myself into trades that would go up. In all the training I had from two reputable companies, covered-calls were never addressed in any detail. Now I have a strategy for sideways markets. I’m back into trading again and loving it.
Easy read and clear information on maximizing your returns from your investments. This book is just a small investment in the skills required for something that can set you free financially. Kudos to Freeman publications to creating something comprehensible like this. I liked the authors writing because they have a fair deal of real experience and results to back it up. I recommend this read for anyone getting into options trading.
A Book Every Average Investor Should Read
Options are probably the most misunderstood aspect of the stock market to the average investor. This is because they can be quite complex. Most books, blogs, even tv shows like CNBC highlight some of these complicated trades that are are lost on a majority of people actively participating in the market. CNBC actually has a whole show dedicated to options once a week. Anyone who’s worked through the mechanics of complicated options strategies, trying to understand them has probably, at some point, wound up shaking their head in dismay. Although understanding some of the more complex approaches to options is achievable for most, implementing them effectively is difficult, if not almost impossible. Understanding the mechanics of these strategies and actually utilizing them in the real world of the market usually turns out to be a bad idea, better left for the pros who do it on a daily basis over and over. And that’s why this book is so refreshing. It’s a compact, easily understood guide to how the average person can effectively utilize options, specifically “ writing covered calls” to safely gain added returns. With 1-year bank CD rates at record lows due to quantitative easing, this is a very welcome tool that can help all investors increase their market returns. The authors walk through a very clear history of what options are, how they’ve been utilized throughout time, and why they believe a safe, uncomplicated options strategy will outperform a plan limited to only capital gains in stocks. For anyone with a basic understanding of how the market works, this concise guide will no doubt resonate.
Todd F Robbins
Great introduction to Covered Calls!
This was the first book that I read about covered calls and I am so glad that I did! I now feel confident in placing my covered calls and know many strategies to keep in mind. The book was an enjoyable read and very well-written. I HIGHLY recommend it!!
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Kudos to Freeman publications for creating something comprehensible like this. I liked the authors writing because they have a fair deal of real experience and results to back it up.Sean
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