Luckily, I am not too much in the margin and my covered call strategy during this time is paying off. I wasn’t so sure last week as the market kept climbing 4 days in a row. NU calls expire this week and, unless it hits 5.5, I think I’ll still be holding the stock. Though I’m not too happy about the bleeding market right now, this is my ideal situation as I think NU is a good long-term hold and now it doesn’t look like I’ll have to sell.
Most technology stocks are down hard and I’m tempted to sell puts, but recalling Federal Reserve’s Jerome Powell’s statement that we’re in for some “pain” along with Michael Burry’s statement, “Watch for failure then look for a bottom,” I think I’ll hold off at least until end of October. My account is currently at $9,415 and I am grateful 😊
