A great deal of exciting happenings in the markets this week. SMH rocketed past $35 to hover around $37. If it holds, I’ll get called at $35 and make an additional $750 in profit. If it drops back down below $35, I’ll sell August calls. I’m hoping it holds so I can move on to energy ETFs (OIH & XLE). Meanwhile, my FXI buy-write at $98 is almost certainly to get called as expected and I’ll keep the premiums I’ve earned.
Here is a list of this week’s high yield ETF covered calls. Remember, the Fed will be meeting of May 9th and my bet is that they will RAISE rates so it may bolster the US Dollar and push gold down. This may negatively impact the market too so be careful out there!
Nothing good this week for May so what’s hot for June? FXI/PGJ(China), OIH (Energy), XHB (Home Builders)
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