Ready to Enhance Your Portfolio with Options?  

Online at Udemy.  Boost your portfolio and returns safely by learning to sell covered calls. Bring extra cash into your account and maximize your earnings when you sell stocks you own.

Course Overview:

First, we’ll cover essential options concepts and terminology. If you've completed the "Introduction to Options Trading" or my "Selling Cash Secured Puts" course, you'll find this information familiar but specifically focused on selling covered calls, highlighting the most crucial aspects.

Next, I'll teach you how to read an options chain and select strike prices and expiration dates aligned with your investing goals. You'll receive step-by-step guidance for selling your first call, understanding what to expect from the contract's opening until expiration. It's vital to have shares in your account as collateral in case you are assigned to sell your stock!

We'll explore scenarios where a call is "in the money" or "out of the money" at expiration. You'll learn to find your breakeven point, set trade goals, and evaluate if the outcomes align with your initial objectives.

Note: This course is the third part of the "Novice Options Traders" series but can also be taken independently.

Important Risk Information:

Beware of online self-proclaimed gurus promising oversized returns and attempting to manage your funds. Taking bad advice or entrusting your money to others can jeopardize your portfolio. Even a few bad trades can erase your gains.

I will always be upfront with you. I won’t make false promises or suggest you entrust me with your money. I am a teacher, not a financial manager. Trading options isn't inherently riskier than trading stocks and funds. In fact, options can be used to enhance returns and potentially reduce risk.

I want to be clear that I do not advocate for the high-risk strategies that promise massive gains. Such advice often entails taking on more risk than is prudent. However, using options can help you pay less for stocks you want to own and earn extra income on stocks you are willing to sell. Even a few extra percentage points on your earnings each year can compound significantly over time. During a bear market or a market correction, options can mitigate losses and set you up for a stronger recovery.

First Assignment: Are You Ready to Trade Options?

Use this checklist to determine if you’re prepared:

• I manage my own brokerage account.
• I know how to buy and sell shares of stock.
• I can select stocks I want to own.
• I use limit orders to set my buy and sell prices.
• I have the funds and risk tolerance to invest at least $5,000 in a single company.
• I am ready to actively manage my account.
• I can check my options positions weekly and place orders once or twice a month.
• I am patient and focused on safely growing my portfolio over time.
• I enjoy understanding how things work; I want to learn to fish, not just be given a fish.

If these statements don't yet apply to you, consider starting with my "Novice Investors: Introduction to The Stock Market" course to build foundational knowledge. 

Learn how the stock market operates and gain experience with buying and selling stocks and funds before diving into options. If you're eager to learn about options, you can still take this course, but consider using a paper trading account to practice before investing real money.