Ordinary Investors Sit and Wait... Get Paid Instead

As happens when selling puts, today is the time to adjust a recent trade and start selling 1 covered call for every 100 shares of common stock owned.

If you have been following my recommendations, on May 31, we sold the June 15, $69 puts on Schlumberger. You earned $1.63 per share (or 2.4%) right away. At expiration the stock traded below the $69 strike price and assigned 100 shares of SLB for every put sold.
https://steemit.com/money/@slider2990/oil-is-still-bullish-trade-for-profits

Now is a great time to earn more cash by selling covered calls.

Sell the August 17, $70 calls on your Schlumberger shares for no less than $1.30 (use a limit order). That's a 1.9% payout on your cost basis.

At expiration if above $70: Shares will be called at $70 each. A 5.8% total return in 11 weeks is 27.3% annualized... amazing.

At expiration if below $70: You'll keep your shares, the income you earned and potentially the upcoming dividend. Also another opportunity to sell covered calls may present itself.

The business is strong, oil is rising and the share price should follow. However with trading for income we do not care as long as the share price does not fall to far.

Steady cash payouts are one of the biggest advantages to trading for income. And they make it one of the best ways to trade in a choppy market.

If you are not using options to your advantage you are missing out. Try to trade for income today.

Disclosure: I wrote this article myself, and it expresses my own opinions. I have no business relationship with any company whose stock is mentioned in this article.