Exhale...Apple covered call

[ironchef]

Only about a quarter to one sixth of my stocks are covered calls. As I have said before, I pay little to no income tax. It has worked out good/fine for me. Yeah, good quality gets called away...That's a given.

I'll give two quick examples how I trade. I own 300 shares of BG...Very boring (watching paint dry). If I still see value in the company (BG), I will buy 100 more shares, then do a leap way OTM on one of the older 100 shares I own on that company. So I am just putting a very small amount (option money), on the table.

The other would be QQQ. I own 100 shares and at some point I am looking to buy another 100 shares. With that new 100 shares I'll do a leap way OTM.

Small skin in the game for income...Yeah, I know boring. So when I am heavy in one stock (or industry...Think oil), I'll options something for some income. Not rocket science...

Appreciate your answers. Question: In your example, why don't you long a way OTM LEAP call if you want to own more?

@newwurldmn actually made a good suggestion. Keeping a journal will let you/us keep a focus on your trades and watch them play out.

But this is a free country, you do what you feel is appropriate.

Take care.

 

[deaddog]

Unfortunately I will still see all the threads you create.

why don’t you create a journal called “cabin’s candid covered calls” and put all your stuff in 1 place?

I don't see any of the threads of posters I have on ignore.

 

[Nobert]

I don't see any of the threads of posters I have on ignore.

The title still remains in the main feed. (?)

 

[deaddog]

The title still remains in the main feed. (?)

Yes it does.
I very rarely look at the main feed.
I check my alerts and then new posts.
Threads started by an ignored poster don't show up in New Posts
If an ignored poster has posted to any thread it will show as such and I don't have to check that post.
One drawback is if someone quotes an ignored poster, the quote doesn't show and it tends to get a little confusing as to what is being replied to.

 

[newwurldmn]

I don't see any of the threads of posters I have on ignore.

I do once someone I don’t have on ignore posts to it.

 

[deaddog]

I do once someone I don’t have on ignore posts to it.

Must be someone you follow. I don't see any threads started by posters I have on ignore.

 

[Nobert]

Must be someone you follow. I don't see any threads started by posters I have on ignore.

I wish it was like that for me.

Then i see some Kremlin troll propaganda presented in WallSt News subforum, until it gets moved into politics subforum, even tho the user was ignored/blocked by me.

Maybe it happens with block function & ignore ,,works properly" (?). Would make no sense tho.

Meh, anyway (smiles)

 

[Cabin111]

Well, I bought another 100 shares this morning. I had my price in for a few days...Just waiting for a fill.

Bought at $176.67...Then did a covered call for the Jan 23 $200. I got $6.45 for that call. I believe I missed the X-dividend date, but that's OK.

I sold a large lot (1/3 of an acre), a few days ago...Was looking for different growth/defensive stocks.

People DO NOT want to give up their IPhones/watches!!

Just grabbed this off the net...

Apple (AAPL)
Buffett’s largest holding, by a wide margin, is the iPhone maker based in Cupertino, California. Apple represents 46.44% of the Berkshire Hathaway portfolio as of mid-2023. That’s partly because Buffett has been raising his stake in the company and partly because the stock is up by more than 50% year-to-date.

Buffett’s confidence in Apple is justified by the underlying financials. Apple has sustained a double-digit return on capital for several years and is currently operating at a ROIC of 32.5%.

The continued popularity of the iPhone, lucrative margins in the software business and new products like the Apple Vision Pro headset could sustain this pace of growth.

 

[maxinger]

Your timing is bad.
Time for you to top up your trading account.

 

[Cabin111]

Well, I bought another 100 shares this morning. I had my price in for a few days...Just waiting for a fill.

Bought at $176.67...Then did a covered call for the Jan 23 $200. I got $6.45 for that call. I believe I missed the X-dividend date, but that's OK.

I sold a large lot (1/3 of an acre), a few days ago...Was looking for different growth/defensive stocks.

People DO NOT want to give up their IPhones/watches!!

Just grabbed this off the net...

Apple (AAPL)
Buffett’s largest holding, by a wide margin, is the iPhone maker based in Cupertino, California. Apple represents 46.44% of the Berkshire Hathaway portfolio as of mid-2023. That’s partly because Buffett has been raising his stake in the company and partly because the stock is up by more than 50% year-to-date.

Buffett’s confidence in Apple is justified by the underlying financials. Apple has sustained a double-digit return on capital for several years and is currently operating at a ROIC of 32.5%.

The continued popularity of the iPhone, lucrative margins in the software business and new products like the Apple Vision Pro headset could sustain this pace of growth.

My bad...I meant 2024.