Dmceng4.......I have sold coop options on my portfolio at various strike prices at 30, 35, 40, 45, 50, and 55 out to january 2023.... at the same time, I sold put options at 45 (got real good premium about a month ago),in 2023 which will put me in at 28 dollars, if they call my 30 covered call options... I also sold some 35 puts out to jan 2023....so, I am all over coop with options to bring in premium... some time ago, I posted that I got over 5 dollars in premium to sell covered calls on the 55 strike price in 2023...those premiums have now shrunk back to about 1.85, or so before this mornings runup in coop stock price...so, to answer your question, you might want to sell some of those 40 calls, and use the premium money to buy coop stock, or sell a 40 put in jan in case they take the stock from you....your call here, I can't advise you, because I am not a broker, and know as much about the direction of coops stock price as you do........however,,,, this is my method:... if I sell a covered call on a stock that I like (say coop), at the same time I would sell a put at a lower strike price to get premium in case I was wrong about my first call position.... remember the technique....CASH TO ASSETS, THEN ASSETS TO CASH...you can always get back into a position if your stock is called away..... just sell
a put to re enter the position....the only problem is... you could miss a big price increase if the stock is called away... but generally, people that buy call options are never really successful, unless you are an insider... there is only a 33% chance on winning by buying a call option, but... 66% chance of winning by sell a call option... why? by buying a call you only have one way to be successful... the stock MUST GO UP BEYOND THE STRIKE PRICE....by selling a call option, you have a 66% chance of being successful, because if the stock does not exceed the strike, or is below the strike price at expiration.. you win....Lodas
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