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He previously served as president and portfolio manager of the Kelmoore Covered Option Writing Funds while also overseeing both equity and option trading at the firm.
Also, the fund will increase the maximum part of its portfolio that may be invested in preferred equity securities from 25% to 40%; the amount of leverage it may use for investment purposes from 25% to 33 1/3% of its managed assets, the maximum permitted; and suspend its strategy of writing (selling) covered options on broad-based indices of securities.
Today, The Sidewinder Report covered options trading in the following securities:
He also covered options for going around the West's sanctions on Iran for boosting bilateral trade.
This strategy combines the purchase of high quality stocks with the concurrent sale of Covered Options against these stocks to generate an option premium income.