Martian

If I remember correctly, we all used to donate to Parsad during Christmas. He did not use that money for himself or to run this site but donated everything to a foundation (I think it was related to Crohn's, not sure). But after that, when he made truck load of money with his market timing calls "Value based leveraged enhanced opportunistic buying and selling", that tradition kind of went away.

Selling ITM calls will suspend the holding period that will affect the long-term capital gain status. Let’s say you bought a stock in January and in March you wrote an ITM call 6 months out. Let’s also say that the call expired worthless and you kept the shares. By next January your shares will not get the long-term status even though you held them for a year. The 6-month ITM call period will be suspended. If you sold the calls too deep ITM, then the LTCG status will be totally eliminated and you have to start afresh. So, from the tax perspective, selling OTM covered calls is better than selling ITM "qualified" covered calls.

I mentioned wheel in the original comment just to say that there are some strategies (like WEEL ETF) that capture the premium in both directions (selling CSPs and CCs) and if the stock tanks that cycle will be broken. Your strategy of selling puts to get into a long term position is different from that. Even though selling puts is common in both, they are two different strategies with different goals.

Writing puts to get into a position for buy and hold is not a problem. So when that stock goes down, it will be the same as if you had bought it outright. But when it’s part of the “wheel”, you can not write covered calls anymore as your assigned price will be far below the current stock price. If you want to write a CC above your assigned price, the premium will be very low even if you go months out. Then it becomes an involuntary long term position unless you want to sell and take the loss.

This covered call trick mainly relies on theta decay. So, you don’t sell the calls one year out. You usually sell them under two months. For ex BRK.B 43 DTE 530 call is $2.50 (0.18 Delta). You can pick the strike depending on how aggressive you are. In a taxable account, you can be aggressive as you don’t have to worry about taxes. You can let it expire if it is OTM or you can close it earlier for a pre-determined profit. Say you made 30% /50% much earlier (like a week). And you open another on the day when the stock goes up. If it is ITM, you roll it. Of course, you lose it in the first transaction. But you are betting that the stock will not go crazy again. It is like losing the battle, but winning the war. Another way to recover is to sell only few options as an initial position and increase it when you roll. Say if you have 1000 BRK/B shares, you sell 3 options first and when you roll, you sell 6. The underlying stock selection is very important. If you choose SPY or BRK/B most of the days they won’t move much, but the premiums will be lower. If you do it on a meme stock, the premiums will be higher. All of the above options are when you don’t want to lose the underlying. But there are few reddit groups (thetagang/optionswheel) who sell CCs aggressively for more premium. When they get called they turn around and sell cash secured puts. Once assigned with the puts they sell covered calls again. They call it “The Wheel”. But selling puts come with it’s own risks as the stock might crater and you are left holding the bag and can not sell CC above your assigned price. If you do, you will get low premium and give up the upside. You sell CCs on the stocks you want to own (SPY/BRK) so that you will be in the market and have some upside and don’t mind if it goes down. There are few ETFs like QYLD/JEPI who do covered calls. That said, with all the above monkey business, in all of the back testing, buy and hold beats selling CCs long term. At best one can expect to make low single digits. It may be worthwhile for somebody with a large portfolio and some time on their hands. It is similar to picking stocks to beat the index (buy low, sell high). Some people manage to pull it off. Otherwise we won’t be here discussing stocks. The same can be applied to selling CCs (Sell high, buy low).

Yes. The youngsters who are into weed drink less. Specifically they drink less beer. But when they "grow up", they drink whiskey like gentlemen!

This yearly poll is usually for the brokerage returns. Here is a simple example of how to calculate the returns. You can add or subtract the taxes and other things you want.

From the SBUX board member's interview this morning on CNBC, it looks like the CEO change was in the works months before Elliot took a position and they are not aware of it. Regardless I sold all of my SBUX today.

and his name is not "Ben Dover", it's actually "Bend Over"

Just a note. IBKR will not pay any interest for the first $10,000.

You don’t need individual trade details. You just need the balance of the portfolio on the start date, balance on the end date and the dates and amounts for the deposits and withdrawals. Then you can just use XIRR to find the return.

Proposed. "If the bill is passed, existing buildings with 10 or more apartments would have until Jan. 1, 2026 to comply." “Every New York City apartment comes with heat, hot water, electricity, and a phone line. It’s time to add Internet, so it is there and just works when a tenant moves in,” Kallos said in a statement. https://therealdeal.com/2021/10/11/proposed-bill-would-require-landlords-to-pay-for-tenants-internet/?fbclid=IwAR0SRldi2J8YRS56t9LU1iC6AE9hItYqIRU_jZyqJPLd16m3uryOm390Vec

I think it's down more than 5% is because of this. "Morgan Stanley resumed coverage of Madison Square Garden Entertainment Corp. with a recommendation of underweight."

+40%. Did not buy or sell anything this year.

up 9.53 %. So voted fro 0-9%. From the graph it looks like 10% + is an elite club. Anyway, learned a lot this year..especially not to put money in retail ::)