Account Net-Liq: $5,202.02
SPX value: 3,224.73
I decided to write a diary about trading and building my wealth. And keep it private for now. And I want to force myself to write every day if the conditions allow. I want to write about my trading and my feelings during the market days or weeks, make sure I record what I was thinking about what trades I took and why.
Finally, two or three days ago I could save $2,200 BP, pretty much by refinancing my house. I deposited this cash to my trading account and immediately before I could waste the money, I bought 3 years IWM LEAPS and sold calls to collect cash on this trade.
I kept reading (listening to an audiobook) Lifecycle Investing and realizing how much underfunded and underinvested I am for retirement. My only chance is dividend income and leverage as described in the book. That is the reason for taking this trade to expose me to the market more than ever to make up the lost years. I lost so much money, pretty much got myself nowhere and feel frustration and desperation. But I am positive!
I still believe, that by applying conservative investing/trading strategy, I still can end up well ahead of the market and my needs to retire comfortably.
I will strictly be buying high yield good quality dividend shares, collect dividends, and sell options (covered calls) against those stocks.
I will also be buying LEAPS against IWM, SPY, and possibly other indexes and sell covered calls against those LEAPS. However, it is quite frustrating lately with the market behavior and its relentless run-up which endangers any call selling strategy. I just hope I will be able to manage the strategy well.
Here is a table of the stocks I want to be accumulating:
Here is today’s market:
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