Selling in-the-money calls on the SPY should be working rather well right now, and will continue to work as long as the market stays in this upward trend. The reason it is working is because the covered call is a bullish strategy that does not require much directional cooperation from the underlying security. So long as you do not see a significant sell-off your positions will be profitable.
Markets change, though. This rally will one day fade. When? No one can say. It will change, though. Your challenge is to educate yourself between now and then, so that you have a plan in place. If you can provide us with some background on your trading and where you want to take it, we will have a much better opportunity to help you choose a reasoned path for your studies.
Christopher Smith
TheOptionClub.
--- In OptionClub@yahoogro
>
> I have been doing covered calls on SPY,SELLING IN- MONEY CALLS ONE MONTH OUT.I know I have alot to learn.Could someone give me some advice?
>
> THANKS
>
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