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Re: TonyJoe1957 post# 76301

Thursday, 01/30/2020 10:00:22 AM

Thursday, January 30, 2020 10:00:22 AM

Post# of 96905
Congrats. I passed on the Mary Jane stocks.

Yes, covered calls should work well in this market.

I like to buy (or already own) a stock I like with fair to mid-high valuation and/or P/E but want to hold long-term (especially dividend stocks).

At least 1000 shares so can "Sell to open" 10 contracts.

You may start with 100 shares and 1 contract to see how acts.

Roll over monthly and adjust strike price accordingly.

Be aware of max pain, short position % and overbought/oversold conditions.

Rinse and repeat. Good luck.

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