I hope you are having a profitable week of trading.
I am making moves in my long term porftolio, which I rarely do.
If you’re interested in following along for free, you can find it on Savvy Trader here: ETF Profit Producing Portfolio.
I’m shifting away from a focus on generating yield and more towards opportunities for capturing growth.
I will likely be adding QQQ as well as XLC to this ETF portfolio in the near term.
Below are the stocks in my other, much more active swing trading portfolio.
The Growth Stock Covered Call Strategy Portfolio only holds a handful of stocks at any given time. It is actively traded to capture momentum in the right sectors at the right time.
Now getting right into each stock and what's next.
CPNG has been a great performer and provided many covered call opportunities as well as nice growth along the way.
CPNG rejected at $17.65 which could prove to be tough resistance. I do like considering selling covered calls at the $18 strike, expiring November 10th.
Selling these calls brings in roughly $72 per contract. This equates to about 4.1% in just 30 days.
ET is a name in the energy sector that I really like and it is making a move back towards $14 aftter retesting $13.30.
I am holding on for the ride and the 9% dividend yield.
You could consider selling the 14 strike call options expiring Nov 10th to collect about $25 per contract.
This is not as juicy as the CPNG premiums, but a respectable 1.8%.
RIG is another energy name. This one is testing my patience and now has the 50-day moving average above it providing resistance right at $8.
RIG needs to power through, otherwise I might cut my losses and move on. If it flirts with $7.60 I am out.
I am not selling covered calls here at the moment but the Nov 10th, 8.50 strike price does bring in about 3.2% so it isn't a bad idea. I'm just not sure I want to be in the trade that long though.
NVT is an electrical components company and is the last holding in the portfolio. It has been a bit of a letdown so far but did move up nicely off of $51 which as been support.
It now needs to power through a volume shelf here at $53 as well as take out the 50-day SMA at $54.
Tough to do so I'll be watching closely. If it stalls, I will exit early. Targeting $55.52 to the upside.
I won’t get a chance to trade the open today. Best of luck if you get after it!
Thanks for tuning in! I appreciate your support of A Trader’s Education and hope you have a great day!
If you enjoy the podcast, be sure to watch live every Sunday on YouTube where I host The Trading Triangle with friends Shaun and Kaye.
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This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.
Swinging Energy Names & Others