Dividends strategy selling covered calls

This is a continuation of one of my previous posts where I talked about losing $3000 in one trade. I have figured out what market strategy im going to use going forward.

I'm changing strategy, I'm now converting to a dividend strategy with 90% of my account I'm going to accumulate dividend paying companies and accumulate dividends.
I'm getting killed with the option strategies I'm trying. Can't take the losses. Just an fyi.

The only gain I have managed to make over the past two years have been on some small accounts where I have purchased small amounts of dividend stocks. I'm up on those accounts by roughly 20-30%.

Imaging if I took the money the I was investing in options over that time and just collected dividend stocks and used a strategy called selling covered calls on one in particular bac.

Selling covered calls is a strategy you use when your bullish on a stock and believe that it will continue to go up in value. It also gives you some downside protection.

1. Buy 100 shares of the company stock.

2. Sell a call against the stock you purchased.

3. Take note of the strike price of the call you sell. lets say it was microsoft stock you bought 100 shares at $90 a share. If you sell a call that expires in two months at. the $92 strike you would collect $150 in premium for selling the call plus whatever the stock appreciates to by expiration.

4. If the stock goes past the strike price of $92 the stock can get called away, but you would make the full premium $350. Thats 175 a month.

I will update you on my progress, stock picks, and gains or losses going forward.

Im still investing in crypto currencies like bitcoin, eos, etherium, ripple stemmit and some others.

Please upvote , resteem, and follow. I will do the same in return.