I picked up 200 shares of UYG in my mini account for $7.95 and sold 2 contracts for November $8 strikes @ $1.40 to rake in about 18% ($260) today. I think UYG may drop further but I’m comfortable holding it from here but who knows, maybe all these banks will go bankrupt in the next 30 days…..
ETF Covered Calls website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.