Call me if you want to discuss this. (705–441–4566)
On October 20, as soon as the NYSE opened at 9:30 AM, we wrote covered calls on the SPY shares we have in three portfolios, expiry date at the end of the same day. The strike price was $US 591. That earned $US 133.43 for every hundred shares for SPY. We own enough shares of SPY to be able to live comfortably on that income.
Rosi and I do this every day, Monday through Friday that is not a market holiday. In over 50 years of investing, I have found this to yield the best results.
The only way to do better is to do something illegal. Crime pays unless you get caught.
How risky is it?
The underlying security we use is SPY, an exchange rate fund that tracks the S&P 500, which is a good measure of the American economy as a whole. The American economy has been the strongest of any for over 100 years.
Empires have 100% failure rate. The failure of the American empire is over in sight yet
Confucius said: “Study the past if you would define the future.”
