A few weeks back we hosted an on-line seminar featuring Victor Grecco from Discover Options. Victor spoke to us about trading covered calls and shared some reasons why the strategy makes sense right now.
Victor also introduced Discover Options new "Discover Covered Calls" training product. I, and several other members, signed up and have been studying the materials.
If you missed the presentation, the video remains available here:
http://www.options4
Now that I have taken the course, I thought I would share my thoughts with you.
First, the covered call is a very straight forward strategy. It's often the first strategy we learn as new options traders. Yet, there is a fair amount to learn about HOW to trade them.
The training is delivered on-line and includes all of the software and scanning formulas you will need. Yes, that means you will be using OptionVue 6 with all of the "bells and whistles" that go along with it including a live data feed, OpScan, Backtrader, etc.
When you first log-in, I suggest downloading the training manual. It's a PDF file and just hit the "print" button, 3-hole punched it, and put it in a binder.
The rest of the course is delivered via video.
When you're done, you will have learned a modulated approach to trading covered calls. This approach allows for greater profit potential during bull markets while increasing protection during market consolidations and outright declines.
This isn't just "pie in the sky" stuff, either.
It's back tested. You will get to see and compare what your returns would have been during 2007 and 2009 by "buying and holding" the QQQQ, versus selling ATM covered calls each month, versus the modulated covered call plan.
That's important!
Why? It's important because when the market sold off in October of last year, most people forgot their investing and trading plans and began making panicked decisions.
By back-testing your strategies you will now exactly how it performs. That allows to you "stick to your guns" even when the rest of your trading buddies are tripping over each other trying to get to the exits.
I found this to be a truly excellent course, well worth the money. I've adopted it for use in my wife's IRA and it's already paying for itself there.
Here's some good news, too.
The course costs just $299.00, and this week I got in touch with Kevin Ritter and persuaded him to reactivate our discount code.
Discount Code ===> "club"
************
The discount code will take $50.00 off the price of the course, dropping it to just $249.00.
Of you have not taken this course, take some time this weekend and watch the video re-play again:
This is an excellent opportunity to learn how to responsibly trade covered calls as part of your portfolio without spending a whole lot of money.
Have a great weekend!
Christopher Smith
TheOptionClub.
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