#CoveredCalls #ShortPuts – As usual my covered calls got absolutely smoked. Letting stock go at a loss and replacing with short puts to get back to even. Last time I tried this I went full position with my put sales right before the last implosion. I’ll be more careful this time going with about one third size and hoping to add.

I’m going this route instead of rolling the calls to get cash back into the sweep earning 5 percent.

XBI Stock called away @ 75.00 (basis 76.90 and 78.25)

Sold XBI Dec 22 2023 84.0 Puts @ .86