Today is the 3rd Friday of the month which means it is one of my favorite days in the stock market. That is because it is options expiration day which means I can move on to September to possibly bring in some additional alternative income. This type of income is very close to passive income, but still involves some time spent, so I am calling it “alternative income” for the time being.
I have options contracts for GE(1), HTE (1), and WB (5) ready for expiration today as long as the shares do not hit the strike price. For those of you who follow my blog, I lost out on my BAC shares last month so I have started to alter my strategy a little to prevent losing out on shares that I purchase and want to retain. I ended up making $261.97 in less than one month from the BAC transaction and was able to pick up the shares again on a dip. While I did make some income, this is not my desired plan as I would like to take a longer range approach. The only stock that could be in jeopardy for being called today would be the GE shares.
During the month of August, I brought in a total of $239.96 by selling Covered Call options contracts. I hope to continue to push forward with this strategy for the upcoming months.
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Hope you did well!
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