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I missed the update last month because of the holidays. For those of you who haven't read my prior posts, here is a quick synopsis of what this is about.

I read the Captains post about covered calls last summer and decided to see if I could create a steady income flow using his methodology. Starting on September 1, I've been tracking my progress against a set of goals. My main goal is to create an income selling covered calls of 2% per week. I follow the Captains lead of selling covered calls on Monday of each week with an expiration date of Friday of the same week. I don't need the income at this point so the goal is to increase the portfolio by 2% compounded weekly. This translates to 9% compounded per month.

Here is the summary of where I'm at presently. As of the end of January, the port is up 42.5% which is 7.3% per month. Not quite the 9% I'm looking for, but not bad. I've created some rules as I've gone along and I'm doing better the more I go forward.

I'm also going to track the YTD increase. The port was up 19.4% in January.

My current open trades are BLNK, QS, PLTR, and AMC. Before everyone goes crazy about AMC it's only ~5% of the port.

I consider a trade closed once the stock has been assigned. Until then I consider it open and continue to sell options. I closed 8 trades the last 2 months and 7 of them were profitable. The one trade that was a loser only lost 0.7%.

Captain, if you happen to read this, I've really enjoyed the Beat Kathie thread. I always thought that the power distribution was a law of nature, I never had anyone else call it that until I saw your post. You are 100% correct. It applies to almost everything. The last couple of months have been crazy busy. I hope to have more time coming up to devote to reading more on the Ark.

I didn't get very detailed this month, but I don't have a lot of time, and didn't want to miss posting 2 months in a row.

Thanks for reading,

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