The Covered Call Panacea Redux

wayneL said:

It's whack a mole. Covered call spruikers keep popping us with the same farking BS...

My FaceAche feed is being spammed with the latest iteration of the "earn 3-4-5-WHATEVER% per month"

Time for another thread on this topic, especially as we seem to have some well educated optionistas here now.

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cynic said:

May I start a thread on naked written puts?

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wayneL said:

Of course

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cynic said:

You won't mind if I borrow the profit graphs from here then?

It's just that I'm not very good at drawing them and they should be nearly the same.

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wayneL said:

They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!
They're not the same!

.... are they?

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cynic said:

That's okay! I'm willing to take my chances. The newbs that I'm intent on marketing my $5,000+ webinars and weekend workshops to won't notice the difference!

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wayneL said:

OK

How many % per month is your offer? I have to do my cost benefit analysis

The FaceAche guy is offering 3% per month for $10k.... reduced to $4995 if I get in quick. :

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cynic said:

At the moment I can get you 300-400% returns over 6 months*

I was going to charge a special rate of $6k for the first 100 takers, but since you're a mate, I'm willing to offer you a VIP ticket at the bargain basement wholesale discount price of only $10,995 in two easy to pay instalments.(Please don't tell anyone else though - I don't want them to think that I'm getting soft!)

*contingent on the DAX not dropping below it's current all time record high prior to September expiry

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wayneL said:

That seems a bit low. I wanna get rich quick! :

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wayneL said:

Can you you turn my $795 ( all my worldly wealth after I've piad fro your course) into a million in a year?

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galumay said:

I knew if I hung around ASF long enough some of the knowledge would rub off, sign me up please!

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cynic said:

I can see that you are a most discerning and intelligent investor. Step right this way!

Take note everybody! Only 99 places left! So you'd better be quick! They're filling up fast!!

P.S. All major credit cards accepted. 2-5% surcharges apply.

P.P.S. Audited broker statements?!! Why on earth would you want to see those?!!!

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DeepState said:

Chart Breakout! Get me set. I'm in.
What's a broker statement? I'm not interested in going broke, let alone, broker.

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hhse said:

With just $1,000, you can be a millionaire in just 2.5 years. Sell call options on CFDs and you can make 30% per month. That's 2300% return per year!!! Sign up right now.

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wayneL said:

Seriously folks....

Ever since I've been back to sweating for a living, I've been using covered calls over my bottom drawer stuff as an "extract some cash from the blinkin' dogs" strategy.

Good for a few percent per year... a bit more if I'm in the zone.

But 3% (or more) cash per month? => View attachment 62269

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cynic said:

Does your bottom's drawers get called away often?

(Whilst I'm sure that those horsey clients of yours keep you fit, I'd still hate to see you naked!)

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