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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.
Wow that is quite the portfolio of trades. The market has been doing some wacky things lately and I’ve been focusing my efforts on hedging my long-term income positions with some short-term bearish options. So far so good, we’ll see where these unpredictable times take us though 🤷🏽♂️
Posted via Steemleo
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.