Add BB at 14 if I am allowed (so far NO), selling covered calls
BB is a real company with no short squeeze issue and being banned to trade for a week perhaps even longer says a lot about this "cancel culture" for the powered class. At whims. and 2 different rule books.
However, as a little guy, I am delighted the situation created a great opportunity for weekly income. Sold ATM 15 BB call at $3 last week in bank acts (not RH, TOS, or TW obviously).
Week one: stock at 14 - premium colleted $3 = cost base 11
Week two: stock at 14 - premium collected $3 = cost based 11 - 3 = 8
Although it is likely the premium may be less in a few weeks but I believe it will be elevated for weeks to come.
A similar strategy can be applied to NOK at 4.6. For a low-priced stock with extreme high IVs, sell a COVERED call, is a godsend.
Safe trading and be kind to each other.
However, as a little guy, I am delighted the situation created a great opportunity for weekly income. Sold ATM 15 BB call at $3 last week in bank acts (not RH, TOS, or TW obviously).
Week one: stock at 14 - premium colleted $3 = cost base 11
Week two: stock at 14 - premium collected $3 = cost based 11 - 3 = 8
Although it is likely the premium may be less in a few weeks but I believe it will be elevated for weeks to come.
A similar strategy can be applied to NOK at 4.6. For a low-priced stock with extreme high IVs, sell a COVERED call, is a godsend.
Safe trading and be kind to each other.
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