While our long portfolio got hammered a bit during the recent pullback, we've made good money selling call spreads above the market. We use Chaikin sell signals to enter bearish, highly liquid stock option spread positions that profit from down moves and collect credit. We buy back the spreads once they're worth about half the initial credit received. It's a great strategy, especially when markets turn neutral like they are now, with high implied volatility. It smooths out the volatility of our portfolio, and unlike covered calls, doesn't put our long holding at risk of being called away. We'll see if today's market bounce changes market conditions, but for now now we'll continue to play both sides of the market. Today we added one long position, Very Bullish rated small cap CHSP on an Oversold Buy signal.
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