- At that point the S&P 500 had bounced 40 points from the lows two days ago. I thought it prudent to take some profits while remaining long.
- In my opener I also discussed the possibility of a retest. I want to be in a position to be able to buy on a retest.
- I sold covered calls at prices where I would be willing to part with the stocks.
- I do things in steps. I generally buy slowly on the way down and sell slowly on the way up. This way if we chop around in a range I could make some money off of the volatility.
A Long Explanation
A reader asked me in the comment section why I sold covered calls if I thought the market was oversold? Here are a list of reasons:
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1 comment:
thanks for the response.
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