I'm not missing anything, understand how it works and am making more money this year than last. If I am losing a point on a debt vehicle, I have to make it up elsewhere. The only place is equity. So if I am losing $3000 with USD300k(an example) on a lost point, I have to make it up with 5.5 points minimal. The only shot I had was with Pfizer..so I purchased @ 26 and added @ 21.5
I don't want to see a quick drop in yield and I don't want to get pushed into equity. Certainly not now.
And to put it bluntly, If anyone is selling stock currently-then they really fd' it up. Bad for them, good for me...but we need to close out the Month at the low of 4800 S&P with an ideal strike around 4600. There is always the chance for a freak show @ 4000/3500 as well coming down the pike :)