Getting Started with Options (Week 4 of 12)

good morning everyone welcome to getting

started with options my name is Barbara

Armstrong I'm a coach with Schwab and

delighted that you are all joining me

this morning to talk about options today

we're going to talk about a strategy

called a covered call and some of you

may say oh snooza paloa I have a smaller

account this might not be appropriate

for me but I encourage you to stick

around because covered calls might just

be more interesting than you first

thought they were at least um that was

my relationship with covered calls next

week we're going to talk about something

called a byright covered call where

we're both buying the stock and selling

a covered call at the same time so I

hope you'll you'll join us for that but

I'd like to start by greeting um those

that are here live you know we have over

you know around  over  people and

more are still pouring in but you know

there's tons of new people I'd like to

welcome all of you I'm going to cover a

couple of things that I don't normally

cover because we have so many new people

and then we have a lot of you know and I

love you guys I call you The Usual

Suspects Chad and AP  and beloo and

Austin and Doug and and Matthew and AJ

and and Godless granny some of the names

are fantastic and John and and the rest

of the gang thank you all for being here

we also have the privilege of having

Mike Fairbourn with us in the chat he

knows this strategy inside and out and

in fact he teaches a webcast on Mondays

that if you like this strategy all he

talks about in that webcast are covered

calls byright covered calls and and

short puts and so it's a way if you want

to spend more time on this strategy you

know he'll take a whole class and just

talk covered calls um and you may want

to take advantage of that okay and so if

you are new here I applaud you for being

here and I hope you keep coming back at

the beginning it may be a little bit

like drinking out of of a fire hose and

so don't think like I'm not cut out for

this it's a bit like drinking out of a

fire hose join the crowd that's all I

can say about that because I went

through the course probably two or three

times and then I'm actually a student of

this education so I created a webcast

series that I would have wanted to

attend okay so um if you've got

questions please don't hesitate to type

them in you know there are lots of

people in this class and they'll be

grateful that you asked if you have a

question and you're watching this in the

archives as the majority of people do

you can type your question into the

comment section down below if you liked

it you can type that in but I do look at

those on a daily basis and I'll get back

to you quickly one way or the other the

third way that I can communicate with

you and you with me is through the land

of Twitter I'll be posting several

things today um it's another free

resource that you can take advantage of

and I hope you choose to do that um my

handle Barb Armstrong Cs and Mike's is

Mike Fairbourn CS for Charles Schwab um

and you know we're we're just posting

helpful information okay so let's get um

through our important information so we

can get right down to the topic at hand

today know that options do carry a high

level of risk and they aren't

necessarily suitable for all investors

certain requirements have to be met in

order to trade options with Schwab you

have to apply for option trading

privileges not all will necessarily

qualify there are also commissions when

we trade options or transaction fees

they're small but you know we need to be

aware of those um we use the paper money

platform on thinker swim um and it is a

brilliant place to learn and to grow and

to become comfortable with different

trading strategies and make sure that

you understand what you're doing before

you consider placing a trade in your

Live account um it it's also a great way

to become familiar with the platform

because it looks like smells like feels

like real money um but it's not and

there are some nuances and differences

and I'll I'll discuss those as we go

through

okay and you know one of the the

comments in there is that you know we

don't recommend that you just use

technical analysis which is trador speak

for looking at a chart in order to make

a decision on on buying a stock or

buying or selling an option um you might

want to look at the news at the

fundamentals you know just on what's

going on in the market in general um so

but we will be looking at at a chart

today so this class I designed to be

taught in about a -week rotation and

and because we have so many new people

here the goal isn't for you to kind of

go through this  weeks and then say

okay now I can go out and trade all of

of these strategies the idea here is

that at the end of this you can say you

know I'm you know starting out and I'm

working on growing my account and

building my giant Heap and these um

debit spreads here that we talked about

they look really interesting um or these

credit spreads um these look really

interesting something where I've got

defined risk and defined return now

someone with a large account may say

like the market has gone up so much I'm

kind of thinking it may pull back a

little bit and and I own lot of stock

positions this covered call thing looks

really interesting to me and so

depending on what your goals are how

much money you have in your account how

much time you want to spend managing

your account um you know we're going to

go through this and then we'll we'll

just go right back to the beginning and

go through it again and some people have

gone through this series three four five

six times and you know what every time

they go through it they're picking up

something new so today we're talking

about covered calls now you may may say

oh I'm coming in on week four am I going

to understand I'm not assuming you know

anything about options but I will put a

link in at the end of this um to the the

very first class in the series um but I

you don't have to have done that in

order to participate and get something

out of this one just a sec I just need a

quick

drink okay so covered calls our topic

dour

and specifically what are we going to do

well we're going to take a look at

covered calls and we're going to look at

just what a covered call is if you're

not familiar with that um and what it is

and then why some Traders might consider

using this strategy and there are many

reasons and some of them I hadn't really

thought of until someone mentioned them

and then it was like wow that's kind of

brilliant so we're going to cover some

of those we're going to go over the

basics of of doing a covered call trade

we're going to go out and we're going to

look at three or four different stocks

and we're going to place up a couple of

um covered call trades and then we're

going to look at hey if you're

interested in this what might you want

to do

next okay

so what does it mean to sell a covered

call when we are selling a covered call

um first of all it typically means that

we own a  shares of the stock that

we're considering selling the call on

for each contract that we want to sell

and you'll see in you know uh one of the

example trades we maybe own  shares

so we can't sell two covered calls we

could sell one unless we wanted to buy

 more shares of the stock to round us

up to  but it generally indicates

that you know we're going to sell a call

to cover the hundred shares that we have

and when we do that what are we doing

well we're creating an obligation to

sell the stock at that strike at any

time up until expiration and it doesn't

even have to be in the money to be

called out what do I mean by that um

well let's kind of draw something out

here which you know always helps me out

so you have a stock that's been going up

and let's say all of a sudden it kind of

starts going sideways

and so what we might do is say when it

comes up and then starts to pull back

again we might say I'm going to sell a

covered call right here at say this $

Mark and let's say you get paid $ for

this call and then when it comes back

down here if it starts to bounce again

maybe it's now worth you know

s then you might buy back your covered

call you've made a $ a share or

$ and then when it comes back up here

you could sell another one you know we

call that wash rinse repeat you know so

something that is coming up and we call

this line here a resistance line it's

kind of like you're coming up and

bonking your head on a ceiling and so

but but if it goes through our strike

and we're more likely to have to sell

our stock if it goes through the strike

if it goes through we can be

called out and what does that mean well

we're agreeing to sell our stock for $

a

share and and if somebody says okay I'll

buy it from you from for  bucks a

share you don't get to say like just

kidding I didn't really mean it um

you're in it you're you're committed

okay but it's a way to generate

income um you know by selling this call

and sometimes the person that's selling

the call they don't really want to sell

the stock they just want to make some

money while it's going sideways but you

know but you have to know that that that

could happen and you know it can provide

an exit strategy for the stock position

you know like let's say you bought this

stock at  bucks a share and now it's

trading at  and let's say you own 

shares and it's too big a position size

so you might say you know what like I

actually should sell some of

this because I it's now % of my total

account value or % and I don't want

anyone's stock to be more than % or %

and so you could use it as a way to sell

a stock you wanted to sell anyway and

that thought had never occurred to me

and I thought think that's a you know

can be a great way we call that

rebalancing your portfolio and so

typically you're bullish which means

you're expecting the stock to continue

to go up or neutral so you may be

long-term bullish and then short to

intermediate term neutral because if you

were really bearish which is Traders

speak for saying you're thinking the

Stock's going to go down in value well

then you know why would you continue to

own

it you know some might argue that that

might not be in your best interest okay

so we want to maximize you know to ma

our potential reward we're putting a cap

on it right at this strike price because

if we're called out then we have to sell

and that can trigger a tax event yeah

you know so we have to be aware of that

and I am not going to give you any tax

advice but um if you start doing a lot

of this if you don't have an accountant

you may want to consider um you know

either buying a book on the subject or

um or getting or or seeking their

services so what's the benefit well we

can generate some income you know and

and the most we can ever generate is you

know that option premium right like the

amount that we paid when we got we sorry

I'm not very good about erasing my ET a

sketch there you know we can create some

income but the most income is going to

be the credit that was sold plus if

we're called out like let's say this has

gone

up and we sell our our thing up here and

it let's say it's trading at  Well

we'd get this $ a share so we get that

benefit plus the $ for the credit that

we

sold you know so if we're called out

it's not always bad news um and it does

create some limited protection so if I

sell this at  and it goes down by $

well as long as the stock doesn't go

below

 then I'm still kind of ahead of the

game

okay um and you you know what are we

risking well what if it went up to 

well if it went up to  especially if

you're close to expiration you know you

could be called out and how much are you

going to receive  because that's the

strike you sold so you're putting a cap

potentially on your gains and when we go

in and when we look at this in the um

example in the market uh we're going to

look at several examples it it it you

know kind of I Can See Clearly Now um

you know that's it all kind of makes

sense to me and it's one of the things I

love about these webcasts is that we go

live in the market and we place real

example trades and then we're going to

follow up on those and and and talk

about how we manage them and and it they

can be assigned in other words you can

have to sell your shares you may say I

have an April th expiration

date um but I just got called out how

did that happen well it is somebody

wanted to buy them and they picked

yours um yeah and and what about the

downside protection now we can put an

exit in and I'm going to show you how to

do that but this is that this idea that

if you got paid $ if the stock drops

less than $ you were still ahead okay

so

let's move on are there any

questions we're not going to talk about

hedging today um I have to stick really

to the topic at hand but just let me

look at the chat because sometimes there

are questions that it's easier for me to

answer with a

screen so the stock can yes it can be

sold prior to

expiration somebody saying my

mother-in-law is my resistance

level yeah that's

funny

okay yes so you have to have a hundred

shares and if you don't have  shares

we're going to go out and look at

something in just a minute but I want to

talk for just a sec about

um you know one some additional

considerations but then two I want to

talk about a trading plan or a recipe if

you will so you've got to be prepared to

sell the stock at any time and and you

know do you is it often that people got

get called out well it may not happen

all the time but it can happen so I

don't want you to be surprised if it

does happen um and then upcoming events

like dividends or earnings announcements

can impact the price of the stock you

know and the price of of this call that

you've sold now some people prefer

selling calls when volatility volatility

is a little higher and volatility in the

market in general is up % today because

your premiums tend to be higher so you

get paid a little more and we all like

to get paid a little more don't we um

and and you know like I said there can

be you know it can become a taxable

event depending on what kind of account

you're in and etc etc um and you know

for that you have to seek you know

somebody else's opinion our Max gain

we've already talked about um a Max loss

is if the stock goes to zero you know it

it would now the probability of a stock

going to zero in  to  days may not

be high it can happen but we can put in

a loss to kind of um manage the damage

so so to speak and loss stop loss

doesn't guarantee we're going to get out

at a specific price um you know but it

it often we get out somewhere in that

neighborhood um and our break even is

the original stock purchase price minus

the call Premium okay yes and we get to

choose you know the call now when we're

looking you know and and I'm a big fan

of having a trading plan for every type

of strategy that I teach and I used to

or or I trade and I used to create these

checklists and I'd go through and and

literally check off everything on that

list and and you know it's what to buy

when to buy how much to buy and then

when to exit the position or you know

when to sell you know when to sell a

covered call how much um you know it

position sizing and so we're generally

looking for stocks that are in a neutral

or sideways Trend or maybe starting to

pull back we're looking for stocks

approaching a resistance remember when I

do that ceiling or bouncing off a

resistance or if we have a stock that's

uptrending we call this a some will call

it a Cod you know a close below the low

of the high day and it's just kind of

Trader Trader speak um but if we have

something that's going up like this and

we're going to look at a stock like this

that's hit a new high and it's starting

to pull back and so you know we might it

might pull back for a few days and and

typically we're looking for stocks that

have high trading volumes why do we care

about that because we want the options

to have high trading volumes and a high

trading volume on the option you know

that on on The Thinker swim platform on

the option chain that's expressed as

open interest that's the number of

contracts that were on the books when

the market opened today

volume is how many contracts traded

today and what we want to do is pay the

market maker as little as possible for

teaming up a buyer for the call that we

want to sell so we want what we call a

tight bid ask spread and what they get

the market maker gets is the difference

between the bid and the ask and so your

your deal here you might say well I want

to look at stocks that trade a million

shares a day or more I want options that

have at least  times the number of

contracts I'm planning to trade and

these are just examples you may not want

to have that as one of your guidelines

at all as long as your bid ask spread

isn't too wide you might say well I want

that to be less than

% and so this would be our what to

sell a call

on and this would be are when to sell a

call and then the next thing is how many

calls to

sell right so that's our position size

and then the last thing is you know and

then when do we exit whether it goes

according to plan or it doesn't Okay so

let's get out and have a look at the

platform so we're bringing up the

Thinker swim paper money

platform sorry here

and you know the market has been

uptrending and so when we kind of look

at the market today we're seeing you

know a a little bit of a pullback now is

it still an uptrending Market absolutely

um but if we're seeing this pattern on

the S&P  might we see that on some

other

stocks

okay so if we come here to I have two

accounts one is a small account that we

started with

$, in and we're less likely to have

hundred shares of something in that and

then the other one we started with a

, back at the beginning of

November so if we come to the monitor

Tab and today we're just looking at

we're going to look at my Trend trading

growth stock

group and we can see here with let's say

AMD we have  shares so we have two

choices one we could just sell one call

or we could buy  more shares and then

we could sell two calls we bought this

stock a while ago well sometime since

November st and we are up

% on this investment so we've made

$, on it if we were to sell our 

shares today you know it would be worth

, now this is a paper money account

these are paper money gains and you know

if we don't sell it today you know those

gains could evaporate if there were a

major Market pullback couldn't they yeah

so if we come but if we come to the

chart and we look at

AMD and we say man it has had such a run

since the end of October as has the rest

of the market this is a one-year chart

it's gone from  to

$

that it just recently had earnings and

it was kind of consolidating and going

sideways and then it broke out but this

Candlestick here is a pattern that

indicates we may pull back for a couple

of days so could we come out it hit a

new high of $

yesterday could we come out

and and look at this

 and maybe sell the  it's sitting

at  it would have to go up another

$ for us to get that um yeah

somebody's asking where to get these

high and lows if you come to your

sprocket and it says here on the first

page show high low

Bubbles and then show a last price

bubble so I have have clicked those to

be

on yeah there are several classes too

that are dedicated and I'm going to go

over how to find that um so if we look

at this and we say gee that's a long way

from where it's currently trading um

let's come to our trade tab now if we're

following our rules and we look at this

and we look at AMD has it traded a

million shares well it's traded 

million so

check if we come out and we're looking

out say  to  days if we look at

March th that's  days and what was

the second question well does it trade a

million shares a day or more check let

me CH change my so we can see it if

we're looking at that  strike are

there lots of contracts well we had

 contracts on the books when we open

today we've sold another  so check

that means that requirement

our bid ask spread is  cents

apart and we're saying we want it to be

less than  so that's a

check and then you might say well you

know is is that worth it no well we we

could make $ now we could be called

out now what does Delta tell us Delta is

technically it tells us the amount if if

AMD goes up by $ the value of this

option will go up by  cents but what

we're doing is we're selling this option

and and our

expectation we want it to go down in

value and then we want to buy it back

for less or have it expire worthless and

so you know if we look at this another

way that people look at Delta is they

say this gives us an estimate of of the

probability of this being in the money

come March th and it's saying you've

got about a

% chance of this being in the money at

you know

on uh March th and being called out

which means you've got a % chance of

this expiring worthless now I added and

Mike I applaud you for being so

observant I went in and added this

probability of touching because what

this is saying is there's a % chance

that at some point during this next 

days it could come up to that level and

maybe go above it and then it could pull

back excuse me but this probability is

higher the probability of it coming up

and touching and then falling back below

and if you want to add that to your

option chain because it it isn't

typically

there it you just click on this oh just

sec I have to close my drawing tool you

click on this and then come down to

customize and then just start typing in

probability and it says you know

probability and we can put in here

what's the probability it will be in the

money and so when we look at this

 it's it's in that same neighborhood

isn't it  it's now saying our Delta on

this is is

 okay so if we decided to do this how

would we do this on AMD well we are

going to

rightclick on it was

 yeah here's

 we're going to right click and we

are going to buy a single or sorry we

want a

cell right click and you can right click

anywhere on this line it will give you

in small

letters um you know the buy versus the

sell but we want to sell one call for

$ expiring on March  and and could

we go out further and get more premium

we could but the longer you're in it if

this uptrend continues um you know

there's a higher probability that it

could come up and and go through

 but that isn't to say that AMD

couldn't end up going through  and

you don't necessarily have to be in the

money uh to be called out

although the odds of being called out

are are the probability of being called

out is much higher if you if it is in

the money so if we come here we're going

to come

to um our covered call

group and we're we're going to add this

to

that so we have sold a covered call on

AMD and then we're going to come to our

monitor Tab and we're going to say

okay we have  shares we're going to

move this now to our covered call group

just so that we it's a reminder to

ourselves that we have sold a covered

call on

AMD and we can now see this in here now

could we do the same thing for Fang so

let's go and look at

Fang now

Fang um was going up and it pulled back

and now it's rising again today so what

we might rather do is wait until it

comes up and then starts to pull back so

there are those that would argue that

this is more bouncing off

support rather than falling down from

resistance and so we might say yeah

maybe that one isn't such a good

candidate because if we wait until it

comes up and and then starts to pull

back um we might get more premium and be

able to sell something higher where the

probability of being called out as lower

lower does that make sense let's also

look at T-Mobile because we've got

shares of

T-Mobile

oh now

T-Mobile we can see you know this went

sideways for a long time didn't it yeah

and then it went on a tear and came up

and went sideways again but what's it

doing today

is it you know remember when we said we

want to look at something that is you

know bouncing down from

resistance so you know we might have

looked at uh a selling a covered call

here and then buying it back here or

maybe selling a covered call here and

buying it you know buying it back if and

if we had that covered call if we hadn't

bought it back when it came down here

you know it could be in the money now if

we sold it at say you know  or

something like

that um sorry these lines are still here

from my last drawing but today it's

breaking out it's not you know bouncing

down this

way and so we might say well let's wait

and see how this plays out now this

could turn out to be a fake out not a

breakout and if it comes back in and

then starts you know coming back down

then we might you know we can change our

mind we could look at this every day but

for today we might say yeah maybe not

the best day to sell a covered call and

and others might say I think this is the

perfect day you know it's it's it's your

you know shares of T-Mobile you can do

do what you like um but this is I'm just

trying to kind of give you some ideas

some food for thought here so here's

T-Mobile now what about Costco what's

the problem with Costco go ahead and

type that into the chat when we look at

our position on

Costco if we look at the chart well one

it's hitting a new all-time high

today and so we might say well if the

Market's pulling back you know that

could happen with Costco also but our

bigger problem with Costco is that we

only have  shares and if we sell a

covered call you know without buying

another you know enough shares to bring

us to a hundred you know so we'd have to

buy another  shares um and then that

would be too big a position a

$, position um in a half million

doll account our guideline here is that

we don't want anyone position to be more

than  to % and Allan you got it you

win the prize like yes we don't have

enough

shares but how about Amazon we have 

shares of Amazon on you know we've got

uh you know we're up almost % here and

it's pulling back today you know how do

I know that well because this number the

profit and loss on the day is negative

and so let's go look at Amazon and say

might we have an opportunity to sell a

covered call now if you were in a

position and and I'm just saying let's

pretend you might say well I actually

own too much Amazon and I wouldn't mind

selling  shares anyway that you know

I sure wish I'd got out at  then you

might say well for one of the calls I'm

going to sell a call at  because I'd

like to only own  shares not 

shares um or if you're saying okay it

it's pulling back here but you know it

obviously it's been

uptrending um I'm okay with selling a

call but I'd rather sell it a little

higher at like maybe

 but could I get enough premium for

that to be worth my

while yeah and you know the ATR here

this ATR stands for average true range

which is about the stock moves how much

the stock moves from top to bottom

within a day over the last  days it

moves on average about $. uh cents a

share so certainly in  some days could

it come up past  or  it sure

could so but let's come out and look and

say say okay at this

 I'd get paid you know only

a you know and that's not even % of

this

price you know and so you might say well

you know maybe then I'd have to do maybe

I'd consider doing this  strike we

have  million shares traded we have

lots of volume here what's our our

probability of being in the money at

that  it's only

% when I go to  it's now

%

% um and and so but you you could say

well if it pulls back for a couple of

days um and and you know Keith if it

goes

sideways you may if you're saying I

under no circumstances would want to

sell my shares on Amazon then don't sell

a covered call because if you sell a

covered call and you're called out you

can buy your shares another  shares

you can buy more shares but you don't

get to chitchat with the person that's

buying the shares from you and say I

didn't really mean it I'd just like to

give you this $ and you know  cents

back yeah it doesn't work that way so

let's just sell one covered call um or

you know or if you wanted to sell the

two and say you know I wouldn't mind

selling a covered just to practice but

I'm going to watch it pretty closely and

and then what let's talk about what your

options might be or your choices are if

you sell this call okay so we're going

to come here to

sell we're going to sell a

single and if we want we can sell two we

can sell one we can decide not to do

this trade at all but we're going to put

this in our covered call group just to

show you as an example and then the one

thing that I said that I would do that

we haven't done yet and let's do this on

on AMD let's say we're going to come to

the monitor tab or let's look at the

chart first and say with uh

AMD this has had quite a run but if we

say Well it kind of broke

out we come in up close it broke out

here

and I'll get rid of these extra

lines so it kind of broke out you know

it was in a bit of a sideways range and

then it broke out and you could say well

if it comes back to this  if it goes

% below that or you could pick your

-day moving average if it goes %

below that um I would like to exit my

position and so if we say okay here's

here's this you know if we want to be

give it more room to move

 I'm going to multiply that times

 and that would give us

 so we're going to come to our trade

tab um or sorry come to our monitor tab

we're going to look at this position on

AMD we paid

$ for this stock when we bought it

but we're GNA

highlight this position we are going to

rightclick and we are going to create a

closing order to sell the position that

we um to to buy back the covered call

and to sell our 

shares now it's not going to sell the

other  it's just going to sell the 

but if you see this hit your account you

might then want to go in and and exit on

the  as

well but this is saying we want to buy

back this call that we sold um on the

 call expiring March  and we want

to sell the stock when well we want to

close out this position if and only if

and we click that little sprocket if and

only if AMD fall Falls below

 and then that way we've got um we're

defining our risk now does this

guarantee that we would sell the call

and we don't know exactly what that call

would be worth or sorry that we would

buy that call back so there isn't a

guarantee on you know that we get out at

exactly that price but what it will do

is trigger a market order that says hey

if AMD goes below  exit this

position okay and you always want to

read the notes at the bottom you know

with stop orders there is no guarantee

that you're going to get out at exactly

that price if the stock stop were to um

gap down then you you could be out at a

lower price and you might put a note in

here um you know sell the other 

shares as well

and this is just a note from you to

you okay so that's my condition didn't

take it did take and how do I know that

because it says here sell this position

to close and then there's a second line

and the second line says if amd's Mark

goes out below

 so it will only trigger this order

to exit if it goes below

 but thank you for asking me to

double check and to point that out okay

so we're going to put this in our

system and then you'll know that you

have an exit on that position if you

come back and you can see that there's a

little chicklet here and it also tells

us that we don't have one on Amazon so

we could choose to exit you know put in

an exit on this one and what we're going

to do is move our  shares over to the

covered call

group

okay okay so that's that so that's just

a little bit about trading covered calls

I want to do two things before we wrap

up one when we come back here

um to

our to our

position I and I'm sorry for the dog in

the background if you can hear that I'm

watching my son's dogs and they never

bark so someone must need to go out

shortly okay

so um I want to show you two things so

what I want to show you is you know

about subscribing to this channel you

want to make sure you subscribe it is

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if you're saying like how did she make

her chart look like that here's a

-minute thing on customizing a chart

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list or on like she's moving stuff from

groups I don't have any groups on my

monitor tab how did she set those up you

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like to learn more about options there's

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come here we started you know here was

our our week one week two we talked

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you know instead of Netflix and binge

binge watching you can be binge learning

the other thing that you may want to

do is come to the Schwab coaching live

and I put a link into that and pinned it

to the top of the chat it will also be

in the show notes if you're watching in

the archives so if you're a beginner to

the world of investing you can say you

know what I just like to see what

beginner classes you offer and it will

oh I only teach one beginner class so if

you you isolate by coach so here's all

the beginner classes there's one on

getting started with Stock Investing

there's getting started with thinker

swim there's getting started with

technical analysis so we've got a lot of

getting started classing or classes or

if you're saying you know I like the way

uh Barb teaches what classes is she

teaching you can see here that I teach

every day except

Thursday yeah so yes you can look at

historical closes this is just an

introduction to the concept my friends

it isn't you know all things about

covered calls for that you want to go to

Mike Fairbourn class on

Mondays you know so if we bring up

Mike you know he has a class on Mondays

trading covered calls and short puts so

you'll want to check that out so I want

to thank you for joining me today and

here's my ask if you could do do not

only me a favor but if you could do some

random stranger you may never fe uh meet

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subscribe to this channel there's no

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then last but not least you are going to

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formerly known as Twitter Barb Armstrong

CS Mike Fairbourn CS um there is

something else I was I know that we're

creating a new link link for this but if

you're new to thinker swim in addition

to the intro to thinker swim classes

offered here you can also book a

one-on-one appointment with a thinker

swim specialist they can answer answer

your questions help you get oriented you

can call our   number and get that I

will post it on Twitter as soon as I

have a direct link but you can actually

do that every six months so guys thank

you for showing up for your future self

by checking this out huge thank you to

Mike you guys kept him very very busy

and I hope you keep coming back because

you are worth it and your future self

will thank you for it so thanks for

joining us today know that all the

examples we looked at were for example

purposes only none of it to be construed

as a recommendation to trade any

particular strategy in any particular

way so uh with that I will let you go um

have a great week everyone and up next

is trading flag patterns with Ben Watson

I hope you'll stick around for that Ben

is

awesome