Basically. So if I buy 100 shares for $4500 I can sell a contract where I make $1200 up front but have to sell my shares at $45 at any time within a week.
More importantly I’ll make some profit if it doesn’t go below $33 by the end of the week (45-12). And even if it goes below $33 I’ll keep selling covered calls to lower my cost basis
And bruh I got about 260k locked and loaded so I’m looking to make up to 70k on this covered call
