Intermediate
Covered calls on shares you already own
A covered call exchanges some future upside for a premium today. It remains a stock position with substantial downside exposure.
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Options Trading Guide
Understand calls and puts, analyse option prices and build strategies for direction, income and protection. Follow ten stages from contract basics to advanced structures and disciplined trade management.
Start with Calls and puts from both sides of the contract, then follow the next lesson links. Explore 40 lessons with worked examples, exercises and further reading.
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Income with Shares and Cash · All lessons
Income with Shares and Cash
Evaluate covered calls, cash secured puts and income cycles through total returns.
Intermediate
Cash secured puts and the obligation to buy shares
A cash secured put reserves money for a possible stock purchase. The premium lowers the economic entry cost but does not prevent buying after a severe...
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Intermediate
The wheel strategy measured by total return
The wheel links cash secured puts with covered calls after assignment. Evaluate the entire sequence, including the value of shares still held.
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Intermediate
Covered strangles and concentrated income risk
A covered strangle combines a covered call with a cash secured put. It can increase exposure precisely when the stock is falling.
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