Hey all,
I opened one leap for spy $600 strike Jan 27 for 102.46 and currently up 56% considering selling it and taking the gain as I can always open up another in the future.
I opened the position to start a pmcc selling calls agianst the position. Question is do I hold it as the marlet can continue increasing? Or sell to secure gains?
If spy did pullback 10-20% I would feel guilty that I didn't sell sooner.
My theory for opening the position is to sell calls agianst it and use it as income for funding other stocks/ETFs. The strategy has worked so far very well on the market and I can forsee us continue riding higher
Thinking about this I can see some options:
Sell take the gain
Close the current and use that money to open another
Continue holding
https://i.redd.it/uthx0hw5ue0h1.jpeg
Posted by 2FLYFISH0
4 Comments
Just hold, maybe sell a month out covered call if you think we are due for a pullback.
Spys been cooking. I would sell, re-position on a dip. Unless you think this runs another 10% before we see a drawdown. Bears might be going extinct, though.
Sell. I say this because you’ve got too much emotion in play already. When you enter a trade, keep emotions out. Let it hit the target or stop loss. For this trade, sell and reset.
u bought it to sell pmccs on. this is almost ideal. keep on your plan, if it does drop? buy it back if it’s worth it