It's still in a long-term uptrend and climbing out of deep, about 30%, pullback. I am looking for a reversion to the mean trade targeting $145 area. For Wheel / Covered calls lovers, it offers about 3% ATM. Among its holdings are REGN and AMGN that I still hold (purchased not long ago) and ILMN. I sold ILMN, both shares and calendars and am looking to re-enter if it pulls back toward $85.

Markus Heitkoetter from Rockwell Trading explains the potential benefits and risks of trading "The Wheel" strategy to generate income. Webinar on Jun 26 https://www.td.com/ca/en/investing/direct-investing/webinars

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I meant to post long ago and am finally doing prompted by Eric's post "Fully recovered". Cutting to the chase: it takes only 3.5-4% to bullet-proof a covered call program. Do not take my word for that, check the numbers yourself. Here is how it is done. Hedge your account with 2 years out SPY puts 50 delta. Calculate the number of contracts as SPY beta weighted. I hedge 50% with 50 delta, so the cost is about 8-10% but time decay on the puts is slow and you roll out a year in, so they lose about 1/3 assuming VIX at selling is the same as VIX at buying. The reason I do 50% is that when market drops like it did in the first half of this year, VIX goes up and puts go in the money, so from a certain point you are virtually 100% hedged.

Yesterday I started a position in both PFE and HSY. When I start a new position I am planning for 2-3 more buys to reach my full position. Did anybody else have these stocks in their portfolio?