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jimmycooper · 03-25-2015, 08:56 AM

Writing covered calls on highly traded, moderately volatile stocks or ETFs. Preferably ETFs and preferably by writing the calls on LEAPs so as you get more leverage. The trade is actually called a 'diagonal spread' but it's pretty much the same as a covered call. Very simple. Other than that, I just like keeping my eyes open for opportunities.

I have the same dilemma when it comes to owning vs. renting. I live in Manhattan so the barrier to entry for owning is pretty steep. With my relatively unstable work history over the past five or so years, buying a co-op and having to go through a board approval process is not even close to being an option. Even a majority of condo boards in the city have a stringent approval process. That's on top of being able to put down at least 20% and have 12-24 months of carrying charges liquid. Not easy to do when most condos are in full-service buildings with high monthly maintenance charges. And if you want to own in a decent neighborhood, it's AT LEAST $600K for a studio. At least that was the case 4-5 years ago which was when I last looking into buying. So, yeah I rent too. $1600 for a studio way the fuck up on the UWS near Colombia. Before that I was paying $2500 for a 1BR in Hell's Kitchen but had to downgrade my expenses while dealing with health issues and not being able to work at all for the past 1.5 years. Sure, I guess moving to and possibly buying something in one of the outer boroughs or, god forbid, New Jersey would be a more practical thing to do but fuck that! I also like the flexibility of renting.

Investing in art is something I'd like to do at some point but need to start bringing in more money first. I made some good money from investing in wine back in the early 2000s and really, really enjoyed the process of doing so because I learned so much about wine. Knowledge is something that sticks with you long after the money is gone. So I guess that's pretty much the same reason as to why I'd like to start investing in art. I believe they call it 'passion investing' or something like that.

03-25-2015, 08:56 AM
jimmycooper Confirmed User Industry Role: Join Date: May 2010 Location: Manhattan Posts: 4,016	Writing covered calls on highly traded, moderately volatile stocks or ETFs. Preferably ETFs and preferably by writing the calls on LEAPs so as you get more leverage. The trade is actually called a 'diagonal spread' but it's pretty much the same as a covered call. Very simple. Other than that, I just like keeping my eyes open for opportunities. I have the same dilemma when it comes to owning vs. renting. I live in Manhattan so the barrier to entry for owning is pretty steep. With my relatively unstable work history over the past five or so years, buying a co-op and having to go through a board approval process is not even close to being an option. Even a majority of condo boards in the city have a stringent approval process. That's on top of being able to put down at least 20% and have 12-24 months of carrying charges liquid. Not easy to do when most condos are in full-service buildings with high monthly maintenance charges. And if you want to own in a decent neighborhood, it's AT LEAST $600K for a studio. At least that was the case 4-5 years ago which was when I last looking into buying. So, yeah I rent too. $1600 for a studio way the fuck up on the UWS near Colombia. Before that I was paying $2500 for a 1BR in Hell's Kitchen but had to downgrade my expenses while dealing with health issues and not being able to work at all for the past 1.5 years. Sure, I guess moving to and possibly buying something in one of the outer boroughs or, god forbid, New Jersey would be a more practical thing to do but fuck that! I also like the flexibility of renting. Investing in art is something I'd like to do at some point but need to start bringing in more money first. I made some good money from investing in wine back in the early 2000s and really, really enjoyed the process of doing so because I learned so much about wine. Knowledge is something that sticks with you long after the money is gone. So I guess that's pretty much the same reason as to why I'd like to start investing in art. I believe they call it 'passion investing' or something like that. __________________