Dec 182008
FAZ is a 3x bear fund on financials.
It moves fast and hard (t.w.s.s.) but I still think the options on it are way overpriced.
This month I did a covered call on FAZ.
Bought 1500 shares and sold 5 options at 3 difference strikes.
At the moment, I’m up on all 4 legs of the trade–I’m telling you, this stock was MADE for covered calls.
Here’s my screenshot from the thinkorswim software:
