原帖由 ALLANLIN 於 2012-8-26 16:24 發表
最近有ㄧ本書介紹以美股選擇權做賣方，先以 sell put，若拿到股票
再以 covered call
號稱月月收權利金 2--3%
請教，有買美股同學，有這麼好康嗎？

原帖由 ALLANLIN 於 2012-8-26 16:24 發表
最近有ㄧ本書介紹以美股選擇權做賣方，先以 sell put，若拿到股票
再以 covered call
號稱月月收權利金 2--3%
請教，有買美股同學，有這麼好康嗎？

You don't have to be a billionaire guru to benefit from this strategy -- you just have to act like one. You say you wouldn't touch them with a ten-foot pole? You're not alone.


In a 2011 survey, securities broker TD Ameritrade (NYSE: AMTD) found that more than three-quarters of "buy and hold" investors have never bought or sold stock options.


The reasons? "Too risky," according to a third of the respondents. Twenty-five percent said they "don't need them," and another 23% admitted they "don't know how they work."


Yes, stock options can be risky, but so is investing in Apple (Nasdaq: AAPL). And, no, stock options are not necessarily "needed" by everyone -- only those investors who want to reduce exposure to market volatility, preserve capital and, yes, generate income.


Take Warren Buffett, for example.


The King of Buy and Hold first bought stock in Coca-Cola (NYSE: KO) in 1988. At the time, Buffett said he expected to hang on to the shares of this "outstanding business" for "a long time." Today, Coke is Buffett's largest holding. As of September 30, the Oracle owned 400 million shares of Coke, valued at $15.2 billion -- a fifth of his equity portfolio.




We'll show you how to turn $1k to $10k - 100% free!  



But Buffett is not the type of investor who'll buy shares of a favored company at just any price -- not even Coca-Cola.


The world's greatest investor is a bargain hunter. If Buffett likes the company but believes its share price is too high, he'll wait until the market "cooperates" by correcting lower before he'll buy shares.


And that's where options come into play.


In April 1993, Buffett's beloved KO was trading at about $39 a share (before two splits) -- a price he regarded as too expensive at the time. But did the self-made billionaire let his cash sit idle while waiting for a downturn? Not a chance.


Buffett employed an options strategy that in this case earned him income of $7.5 million -- all without buying or selling a single share. Here's how he did it...


After determining that $35 would be a reasonable entry point for KO, Buffett wrote 5 million put options with a $35 strike price. A put is an option contract that gives the owner the right, but not the obligation, to sell 100 shares of the underlying stock at a specified price (which is known as the "strike price" -- in this case $35). In exchange for writing the puts, Buffett in this instance received a premium of $1.50 a share from the buyers of the puts. (In options, the premium, or cost, is determined by such factors as the stock price, strike price and time remaining until expiration.)


If KO were to fall below $35 the buyers of the options that Buffett wrote would exercise those options and sell their shares to him. In other words, Buffett would be obligated to buy KO at $35, which is precisely what he wanted to do in the first place.


If KO instead were to rise during the life of the contract, the owners of the options wouldn't exercise them. They'd let them expire and Buffett would simply pocket the $7.5 million premium ($1.50 X 5 million shares). And that's just what happened -- Buffett received $7.5 million in instant income for the opportunity to buy shares of KO at $35 each.


The best part: You don't have to actually be a billionaire guru to benefit from this strategy -- you just have to act like one.




Action to Take --> My friend Amber Hestla, an options strategist at ProfitableTrading.com, a StreetAuthority sister site, is putting the finishing touches on a report that details who should (and shouldn't) try these strategies and answers nine other commonly asked questions about boosting income with options. If you'd like learn more about generating income using options, then simply click here and tell us where to send the report.


And be sure to check StreetAuthority.com tomorrow, where we'll republish my exclusive interview with Amber from StreetAuthority Insider, a free publication that all paid-up StreetAuthority newsletter subscribers receive at absolutely no additional cost.

原帖由 shyang1620 於 2013-2-28 07:58 發表
Buffett's KO put selling is quite well known. I think I read it in one of Timothy Vick's book about Buffett years ago.

However, I have not heard that Buffett writes covered call. In the KO ca ...

原帖由 King818 於 2013-2-28 08:08 發表


Yang-san:

1. Buffett wrote put contracts (while he actually owns nothing of KO, correct?) based on the story I posted.

2. I have tried only buy/sell call or put option, but never actual ...

原帖由 shyang1620 於 2013-2-28 07:37 發表

沒看過這書，所以只能從自己的經驗回答，我的作法是找預期報酬率高，但尚未跌到購入價位的股票來研究要不要賣put，賣put的gain對我是short term capital gain，稅率會比較高，而且要一兩個月搞一次，有些煩瑣 ...

原帖由 shyang1620 於 2013-2-28 08:29 發表


King-san

Right, it is just a way for him to buy KO.

Let's say we want to buy CIG at 10 and not at 12.
If we write 1 put contract, at $10 for $0.3. We will have to put up $10*100=$ ...

原帖由 mikeon88 於 2013-2-28 17:21 發表
要幫別人的課程打廣告之前，
請先到對方的部落格打巴菲特班的廣告再回來，
禮尚往來才算規矩 !!

原帖由 ALLANLIN 於 2012-8-26 16:24 發表
最近有ㄧ本書介紹以美股選擇權做賣方，先以 sell put，若拿到股票
再以 covered call
號稱月月收權利金 2--3%
請教，有買美股同學，有這麼好康嗎？