Here is what we are doing in the stock market. Due to our work schedule, we have not been able to continue our Day Trading. We have shifted to writing short term Covered Calls.
We have been doing pretty well on this so far.
This week we focused on Pfizer (PFE) as it touched the 50 day moving average. We picked up 100 shares and wrote the 9/17 $45 strike calls for $0.43. We collected the $43 premium and if we get called out we should make a $60 profit for a couple days work.
Our strategy for picking stocks to write covered calls on are to pick stocks that have recent positive earnings upside, pay dividends, and are trading at support.
The other criteria is that the 50 day moving average is on an upward trend.
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