Frankly. I am surprised the SEC hadn't shut down the grandma scammer marketer. Some of the claims are just outrageous. Pretty funny that Brandon f is marketing for her supposedly.
She's on this thread under a Brandon pseudonym. Someone should forward this shit to the SEC. Perhaps they can fit in an investigation between porn surfing marathons.
She must have a time machine! The CBOE opened 1973-74, I won't mention a certain french mathematician from a century ago.
I just don't understand why people pay good money for bad advice. Save the subscription costs and lose the 30% yourself!
It's more than just covered calls. It's a specific technique for managing positions to generate monthly income using mostly CCs with some put selling. The program is geared towards newbs and retired folks who want steady income. And, it did as advertised for the majority of those who followed the rules from 2002-2009. Then, as is the case for many cookbook systems, the bottom fell out during the 2009 crash. In her system, you NEVER close a position for a loss. You end up with a lot of positions that are so far under water - unable to generate income - your overall account value goes in the toilet, and the net monthly income goes with it. She has morphed her business to be more of an overall financial planer, mostly for retirement. I can't speak for her financial planning skills, but I would not recommend her CC method.
So her specific technique must have been: Sell Covered Calls until stock is called away, then sell Naked Puts until the stock is put to you, then back to CCs. Nothing special about that.
...from the september 2008 issue of STOCKS, FUTURES AND OPTIONS Climb to Profits with an Options Ladder September 2008 By Kim Snider & Jesse Anderson ...i have provided some quotes to get the flavor....you have to register to read it, but it is free and they have a lot of other info... "Covered calls are widely considered one of the most conservative options strategies out there. You can employ this strategy when you own underlying shares of stock and write calls against them. If the shares are called away [the elimination of a contract due to the obligation of delivery], you are back to cash and profit from the option premium. If the options expire worthless, you still own the stock." "You will start the process like you would most covered-call strategies, but with one small twist. In the first month, you buy a stock, sell a covered call one strike above the price and sell a cash-secured put at the strike immediately below the price. Why the put? Because by selling the put, you collect additional income for the month. If the price increases above the call strike on expiration, your shares are called away and you keep the premium. If the price falls below the put strike, you automatically buy additional shares. The whole idea is to buy additional shares the next month anyway (if the initial purchase isnât called away), so this merely automates the process and generates extra income. In subsequent months, if your position isnât called away, you will continue to buy shares and attempt to sell calls one strike above your average cost, but you usually wonât sell a put (exceptions will be discussed later)."
It's been pointed out here a gazillion times that the synthetic is better so let's make it a gazillion and one: Selling a naked put is equivalent to doing a covered call. So this rocket scientist of an advisor has clients incur 4 commissions (plus B/A loss) when it can be done in as few as one opening position that expires. Jeez, what a deal!