#CoveredCalls #IRA – Fuzzy, what the heck are you talking about? Good question!

In an IRA I’ve been carrying positions in CELG, GLD, and UAA that seems like it’s been forever. They’re all underwater with very little call premium available to sell. With this pullback I’m selling the dogs and putting an equal amount of cash into some tickers that do have nice premium and that have been beat down pretty hard.

I won’t bore you with the details but I’m hoping these are long term positions that I can sell against for many months. Nothing fancy with weeklies…just doing the monthlies as more of a set it and forget it. I’ll roll the losses of the dead money stocks into the cost basis of the new positions and go from there. I feel I’ll make a lot more progress with these than sitting and waiting on the dogs to come back.

Here’s the covered call sales of the new positions:

Sold TNA NOV 16 2018 65.0 Calls @ 2.00
Sold TQQQ NOV 16 2018 58.0 Calls @ 1.60
Sold SOXL NOV 16 2018 100.0 Calls @ 5.10