Selling covered calls is almost a “no-brainer” way for you to collect income from the low dividend or “non-dividend” paying stocks sitting in your own portfolio right now.
I give seminars and ask questions, the first one always the same. “Who here owns some stocks for the long haul?” Even in an options trading session almost everyone raises their hands.
Then I ask “who sells calls against these stocks to generate cash and income from these positions?” Most of the hands disappear and the sheepish looks come out.
The covered call strategy isn’t for every stock in your portfolio, but it can work wonders for your “core” holdings…stocks you don’t want to let go of because you are still bullish and expect these “great companies” to continue to grow.
If his sounds like you, then sell calls, now. All you can lose is foregone profit if the stocks you own are not under water.
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On the following pages are 5 widely held names that are great stocks to sell calls and create your own cash dividend machine.