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I am an advanced beginner to intermediate in options. Here is my strategy. I buy wide moat stocks selling at a discount. My goal is to maybe earn an extra 3% a year by selling weekly covered calls on them. I don’t sell the calls during the ex dividend week, or earnings announcement week. I...

This is a good book, but unless you have some background in options, this will be a difficult read. I guess for Tradergreg it would be a good fit, because he has a solid background. Definitely not a book for beginners.

Thank you all for your ideas.

In 2008, I had 3 well respected stocks go to zero, so I know it can happen.

Yes. I do dump it. I have taken small losses before on principal, but the income usually is more than the principle loss. Yes, I do agree that there is no such thing as zero risk. If I said that, I misspoke. I should say low risk. In terms of IG going to zero overnight, thankfully that is...

Thank you.

I only buy investment grade preferreds, and check the rating every month. I also only buy cumulative.

I recognize it perfectly. I can keep collecting my dividend if rates go up, and let my heirs deal with loss of value of the preferred stock. Also, preferreds don't go down that much in price usually.

There is nothing, because you would have to buy the 0 stock for 10,000.00. (I guess if you add commissions, it could go over 10,000.00)

Sure, with a naked put, someone will buy the stock at 35, and then you have to buy it from them at 40.00. With a covered call, you need to let some buy a 40 dollar stock from you at 35.00.

My other concern is that it will take too much time. I will need to learn the strategies. Then paper trade at Interactive brokers for probably 6 months so I know what I am doing. My friend said he made 35% on a few minutes a day of work. I think he did know options, but was also bragging...

Thanks. That is what I am leaning toward.

Well, I know this is a biased board, but given that I do very well in the bond, stock, and preferred stock markets, is it even worth my time to learn? Do people in options do much better than people in stocks, assuming they understand them?

to be honest, I have ways that I can make money in the market, that work, and options seem very complicated. With the exception of maybe buying a close end fund that sells covered calls, I may forgo them, and spend more time in the gym instead. The story of my interest came about because an...

For me, naked puts are more risky. Covered calls are safe, because if the stock goes down, you can buy back the call, and sell the stock. I don't think the people who buy the close end funds know a lot about options.

Not zero risk, but buying investment grade preferred stocks, or close end funds that buy bonds, can easily give you 6.5% with low risk. I have been doing this for many years, and never lost money doing this. Close end funds that buy bonds can give you 10%. Here are some close end funds that...

I don't know options, but I know the very basics about them. Selling puts, Buying puts, selling covered calls, buying calls, bull put spreads, and leaps. I just bearly know iron condors, and that is about all I know. What I do know is selling covered calls is a pretty safe strategy, and...

Thanks for all the good advise. I think the easiest strategy could be to buy a close end fund that sells covered calls. That way, an expert is doing the work.

Thanks. That is good advice.

Only the reviews I read of the book.