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RE: TIB: Today I Bought (and Sold) - An Investors Journal #504 - Oil ad Oil Services, US Banks, US Pharmaceuticals, South Africa, China, Steel, US Retail, Airlines.
I am finding that writing covered calls is a great way to look after those long term positions. Get 1% a month and if the market takes you out - that's OK.
The other tactic that is working well is writing naked puts on gold or silver. I use Van Eck Vectors Gold Mining ETF (GDX). Pick a strike price that gives a 1% return a month away and keep doing it. If you get assigned you will find you are 5% below the current market on your entry.
My next post will have a write up on the approach I use as it is the first week of new expiries.