Hello Investors,
Today we explored more deeply our market outlook. We think a 10% decline minimum is very likely. We worry and frankly expect that an even deeper 30% type market decline is not too far away. All investors should think about what a market decline of -30% and many stock being down -50% would mean for them.
As such, we have made the always difficult decision to unload some stock holdings. We much much prefer buying to selling.
In that same mode, we sold an extra covered call on CVS. This cc is “naked” because we already sold April ccs against our shares. We discussed our plan today in class.
Sold to open: CVS March 15th (monthly) 76.00 strike call
Credit: 0.56
Have a great week!