I'm long ETFC. My sentiment is short term neutral but long term bullish. I want to get paid to hold it by doing CC but I'm concerned that it may break out on news like the BAC / CFC rumor. What's the best way to play this? Sell DOTM leaps or keep selling front month OTM CC every month? Thanks!
i did wait until after this month to sell covered calls. 1/24 is earning report and a few days later fed rate meeting. The money you make from 1 month cc isnt enough in my opinion to miss the chance of a pop. After this month, things should stabilize somewhat, then you can look a good entry to sell.
didnt you say that you bough them for 3.44? For you the time to sell is now since you had a terribly timed entry and luckily get your money back now. Take the small profit and consider the lesson. Hold only if you would also buy right now and I doubt you would.
You're right I was at 3.44 and I wouldn't buy now, but I did buy my average down to 3.12 a share...I'm in ETFC for the long. I see them hitting at least 4.25, I see a recovery on the rise...anyone else?
long term bullish short term unclear, largely depends on the fed rate cut next week. If you are a short term trader, should sold when it was at 4 AH, If you are a long term investor, i would hold for a while.
agreed. I missed the AH...this is not my full time job as my past posts obviously reflect. I'm learning, so I appreciate all the help. I've been trading about 2-3 months, so far I've done really well. It's definately a psychological workout! Especially ETFC!!! DO I take the money??? DEAL or no DEAL??? thanks