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The Poor Man’s Covered Call (PMCC) is a covered call writing-like strategy where short calls are sold against LEAPS options. There are pros and cons to this trading approach but the main advantage is that these trades can be executed at a lower cost than traditional covered call writing. Options (LEAPS, in this case) are cheaper than the shares themselves. This article will highlight two of the main factors we must consider before executing a PMCC trade.

Critical structuring factors for successful PMCC trades

  • Since covered call writing is a strategy where generating cash flow is our main goal, we want to be sure that the initial time value returns meet our (monthly) goal 
  • We also want to structure the initial trade such that, if share price rises substantially forcing closing of the trade (short call deep in-the-money), early closure will result in a profit

Real-life example with The Coca-Cola Company (NASDAQ: KO)

On 11/21/2018, KO was trading at $48.81. The option chains were examined for deep in-the-money LEAPS and slightly out-of-the-money 1-month expiration options. We want to confirm that the initial short call premium divided by the cost of the LEAPS option falls within our 1-month time value return goal (2% – 4%, in my case). We also want to calculate that early closure of the trade will result in a profit. This means that the difference between the strikes (LEAPS and short call strikes) plus the premium generated from the short call sale is greater than the cost of the LEAPS option.

The BCI PMCC Calculator results for KO

PMCC Calculations for KO

The cells highlighted in yellow, show that, based on a cost-basis of $14.05 (cost to purchase the $35.00 LEAPS option), there is a 3.20% 1-month initial time-value return with 4.91% upside potential (if share price moves up to the $49.50 strike) with a total 1-month potential return of 8.11%. This is a very reasonable initial return setup.

The pink-highlighted cell shows that if the trade is closed as a result of substantial share appreciation, there will be a credit of $90.00 per-contract. This is calculated by taking the difference between the 2 strikes and adding the short call premium and then subtracting the cost of the LEAPS:

[($49.50 – $35.00) + $0.45] – $14.05 = $0.90 per-share

Both factors meet our reasonable criteria for entering a PMCC trade.

Discussion

Before entering a PMCC trade, we must confirm that the initial time value returns meet our (monthly) goals as well as verifying that, if the trade is closed early, it is closed at a profit. 

For more information on the PMCC strategy

Covered Call Writing Alternative Strategies

The BCI PMCC Calculator or Calculator package

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Alan,

Thank you for generously sharing your knowledge and resources. I purchased your Complete Encyclopedia for Covered Call Writing last year. You have an easy-to-understand teaching style.

Regards from North Bellmore!

Best,

Lori

Upcoming event

July 22: Chicago Traders Expo

All Stars of Options

1:30 – 2:15

Hyatt Regency McCormick Place

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One of our favorite option-selling strategies is selling cash-secured puts. This involves selling (usually out-of-the-money) put options and securing the possible future contract assignment with the appropriate amount of cash. What about cash-secured call options also referred to as cash covered call options? This latter strategy is quite different from traditional covered call writing in both trade execution and goal. Although this is not one of our go-to option-selling strategies, some of our members have inquired about it so I decided to publish this article to explain how and why it is considered by some investors.

What are cash-secured call options?

  • Call options are purchased, giving the option holder the right, but not the obligation, to buy the shares at the strike price by the expiration date
  • Cash is set aside in an interest-bearing account to purchase the shares should the option-buyer decide to exercise the option

Goals of the strategy

  • Setting a maximum price for a stock we are interested in holding for the long-term (lower price of the stock or strike price at expiration)
  • Create an opportunity to reconsider stock purchase during the life of the contract

Breakeven and maximum loss and gain

  • The breakeven price is the strike price + option premium cost
  • The maximum loss is the price paid for the call option
  • The maximum gain is unlimited

Hypothetical example

  • Stock BCI is trading at $61.00
  • Buy the $60.00 call option for $3.00
  • Bullish long-term on the stock
  • Breakeven (BE) = $$60.00 + $3.00 = $63.00
  • Maximum loss = $3.00

Various outcomes at contract expiration

Outcomes for Cash-Secured Call Options

Stock price is $65.00 at expiration

We have a $2.00 benefit over our BE. Had we purchased at $61.00, our benefit would have been $4.00, $2.00 better.

Stock price is $63.00 at expiration

This is our BE price so no benefit is realized. Had we purchased at $61.00, our benefit would have been $2.00, $2.00 better.

Stock price is $60.00 at expiration

This is $3.00 below our BE and represents our maximum loss (blue cells highlight maximum loss possibilities). Had we purchased at $61.00, our loss would have been $1.00, $2.00 better.

Stock price is $55.00 at expiration

This is $8.00 below our BE but we would allow the option to expire worthless rather than exercise the option. After expiration, the stock can be purchased at $55.00, if still bullish on the security or we can re-assess our evaluation of the stock and move to a new one. This also represents our maximum loss. Had we purchased the stock at $61.00, our loss would have been $6.00, $3.00 worse than using the cash-secured call strategy.

Discussion

The cash-secured call strategy is used to purchase a stock at the lower of the call strike or current market value, thereby guaranteeing a maximum price while also giving the investor a chance to re-assess the bullish assumption during the life of the contract.

Recent Money Show interview

Click to listen

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Alan,

I thought I knew about covered call writing but you have opened up a whole new world for me.

Thanks,

Louis

Upcoming event

July 22: Chicago Traders Expo

All Stars of Options

1:30 – 2:15

Hyatt Regency McCormick Place

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Market tone data is now located on page 1 of our premium member stock reports.

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Ask Alan #159 Rolling Down When Share Price Moves Up: A Valid Strategy? - YouTube

Alan answers a question posed by Ed, who asks:

Alan,
I recently sold an in-the-money (ITM) strike and share price shot up way past the sum of the ITM option and the strike price of the option. I then bought back the ITM option and sold another ITM option one increment less in strike price than the one I just bought back.
This does 2 things:
1. I do not lose money on the option
2. The total stock price + option premiums will be closer to the current market value of the stock and therefore I will make more money than not acting.
What is your opinion of this strategy?
Thank you,
Ed

———

It’s the 2nd Wednesday of the month. Time for another original episode of Ask Alan. AA#159, “ Rolling Down When Share Price Moves Up: A Valid Strategy?”

If you want more “Ask Alan” videos, you can! Become a premium member today, and tune in to the educational power of the complete library!

More Video:

To enter your questions to “Ask Alan”, fill out the form on the contact page. Be sure to begin your message with “ASK ALAN”

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Stock options is a category found in required examinations for certified financial planners. In May 2019, Richard contacted me because he was “miffed” at one of the answers provided for one of the questions in the CFP financial planner test question databank. I thought it would be a fun and productive exercise for the BCI community to analyze on the question as well.

Screenshot of the question presented by Richard

Question from CFP Test Question Databank

Now don’t peak at the answer below. First, take your time to examine the question and potential responses before giving your answer. 

Start your thinking

This is a Tough One

The Correct Answer

CFP Test Question Answer

Richard was seeking an explanation as to why selling a naked call (no stock was purchased first) was considered a short position.

Will we benefit from a declining stock in each of the 4 scenarios presented?

I. Sorting the stock: Yes. Selling at a higher price and buying at a future lower price will result in a realized profit.

II. Buying a $50.00 call option: No. Call options will decline in value if the underlying stock declines in value.

III. Writing (selling) a $55.00 call: Yes. Option buyers will not choose to exercise this option if shares can be purchased well below the $55.00 strike price. The option will expire worthless and a profit (option premium) will be realized.

IV: Buying a $45.00 put: Yes. Put value is inversely related to stock price. If share value declines, put value accelerates, creating opportunities for realized profits.

Discussion

All choices but II (buying a call option) will benefit from a declining stock price. So “D” is the correct choice. Writing a call is a short position in much the same way as is shorting a stock. When we sell a security that we don’t first own it is considered a short position. Did you get the correct answer? Be honest! Right or wrong, I hope this has been either a learning experience or a confirmation of what we have already mastered.

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Hi Alan,

I find BCI really great. So pragmatic and full of common sense. I will start managing a relatively large capital full-time in August and the BCI system will be used for a good part of the portfolio.

Best,

Didier

Upcoming events

June 11: Plainview New York

Long Island Stock Traders Meetup

Plainview-Old Bethpage Public Library

7 PM – 9 PM 

Free presentation

July 22: Chicago Traders Expo

All Stars of Options

1:30 – 2:15

Hyatt Regency McCormick Place

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Market tone data is now located on page 1 of our premium member stock reports.

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Call options can be used to reduce losses on long stock positions. Depending on the degree our share value has declined, our target can be to lower our breakeven point or to lock-in but reduce losses. In December 2018, Sunny shared a stock repair trade he was considering involving FedEx Corp. (NYSE: FDX). At the time, FDX was trading at $201.39 after being purchased at $235.00 (ouch!). This article will highlight the stock repair strategy that Sunny was considering and whether a lower breakeven was achievable and the degree of loss-reduction that was possible. 

Sunny’s trade and proposed stock repair strategy with FDX

Buy FDX at $235.00

  • 12/7/2018: FDX trading at $201.39
  • Buy 1 x $200.00 call at $10.90
  • Sell 2 x $210.00 calls at $5.45

The long ($200.00) call allows us to buy 100 shares at $200.00, reducing our average cost-per-share to $217.50. The cost to accomplish this is zero (trading commissions aside) because we are paying $10.90 for the long call and receiving $10.90 for the 2 short calls. Both short calls are “covered”… one by the original 100 shares owned and the second by the long $200.00 call.

Strategy overview: What is our realistic objective?

The way this stock repair trade is structured, a loss is locked in but is dramatically reduced if share price moves to $210.00 or higher by expiration. When the trade was entered (before stock repair), the loss on the stock value was $33.61 $235.00 – $201.39).

When we sell the two $210.00 calls, our original shares plus the potential shares if the long call is exercised, can be worth no more than $210.00, our contract obligation. Let’s break down the value of these two positions at expiration given the share price closes at $210.00 or higher (given no additional position management trades):

  •  The original shares are sold for a loss of $25.00 (buy at $235.00 and sell at $210.00)
  • The $200.00 long call is worth $10.00, reducing the net loss to $15.00
  •  The net cost of the option trades was $0.00 (less commissions)
  • Share loss was reduced from $33.61 (14.3% loss) to $15.00 (6.38% loss) by executing the stock repair strategy (assuming a share price of $210.00 or higher)

The screenshot below of the BCI Stock Repair Calculator reflects these calculations:

FDX Stock Repair Calculations: The BCI Stock Repair Calculator

The red arrows highlight the (unrealized) losses at the time the stock repair strategy was initiated and the blue arrows reflect the results if share price moves to $210.00 or higher. Since the maximum value our shares can be worth is $210.00 (our contract obligations), breakeven ($217.50) cannot be achieved but significant reduction in capital losses is possible. 

Discussion

The stock repair strategy is an excellent way to reduce losses for our long stock positions. When the decline in price is significant, breakeven may not be a reasonable goal but substantial reduction in the amount of loss can be a reasonable target. In other scenarios where initial share price loss isn’t as large as this one, breakeven or even turning a profit is absolutely possible. It is also important to realize that the stock repair strategy does not protect against additional share loss if the stock price continues to decline so closing the long stock position should also be a consideration.

Upcoming events

June 11: Plainview New York

Long Island Stock Traders Meetup

Plainview-Old Bethpage Public Library

7 PM – 9 PM

Free presentation

July 22: Chicago Traders Expo

All Stars of Options

1:30 – 2:15

Hyatt Regency McCormick Place

***********************************************************************************************************************

Market tone data is now located on page 1 of our premium member stock reports.

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Mastering exit strategies is the 3rd required skill for successful covered call writing and put-selling. On November 28, 2018, Nirav wrote to me regarding a series of trades he executed and wanted to know how to categorize the position management aspect of these trades. This article will highlight the differences between “hitting a double” and mid-contract unwind” exit strategies as they relate to Nirav’s trades.

Nirav’s trades with Bio Telemetry, Inc. (NASDAQ: BEAT)

  • 11/12/2018: Buy 100 x BEAT at $62.25
  • 11/12/2018: Sell-to-open the 12/21/2018 $60.00 call at $5.00
  • 11/28/2018: BEAT trading at $68.85
  • 11/28/2018: Buy-to-close the $60.00 call at $9.50
  • 11/28/2018: Sell-to-open the 12/21/2018 $70.00 call at $2.50

Initial calculations with the Ellman Calculator (multiple tab)

BEAT: Initial Time Value Returns with Downside Protection

The initial time value 5-week return was an impressive 4.6% (yellow cell) with 3.6% downside protection (brown cell) of that time value profit.

Position management overview

Since share value moved rapidly from $62.25 to $68.85, we look to the “mid-contract unwind” exit strategy to determine if the time value cost-to-close (CTC) is approaching zero, such that a new trade will generate more than this CTC. “Hitting a Double” would apply if the share value declined such that the option premium would approach our 20%/10% guidelines leading us to close the short call and evaluating the next step (rolling down, waiting to “hit a double” or selling the underlying stock). In these trades with BEAT, we are in “mid-contract unwind territory”. The twist here is that Nirav closed to short call at a cost of 1.08% early in the contract and then generated an additional 3.6% for a second income stream net gain of 2.5% with the same stock. We usually turn to a different underlying to avoid profit-taking after a large price movement upward.

Calculating the time value cost-to-close using the “unwind now” tab of the Elite version of the Ellman Calculator

BEAT: Time Value Cost-To-Close: The brown cells highlight the time value cost-to-close (1.08%), incorporating share appreciation from the original strike price of $60.00 to current market value of $68.85.                                   

Discussion

It is important to take advantage of situations when share prices rises significantly causing the time value component of the option premium to approach zero, especially early in a contract month. This strategy is known, in the BCI community, as the “mid-contract unwind exit strategy” and usually involves using a different stock in the second income stream but can be used, in rare circumstances, with the original stock if there is extreme confidence in continued share appreciation.

Exit strategy resources

https://www.thebluecollarinvestor.com/alan-ellmans-complete-encyclopedia-for-covered-call-writing-scover/

 https://www.thebluecollarinvestor.com/alan-ellmans-complete-encyclopedia-for-covered-call-writing-volume-2/

 Elite Calculator for Covered Call Writing

Honored to meet so many BCI members at my recent Las Vegas presentations

All Stars of Options at Bally’s Hotel, Las Vegas

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Hello Alan,

I just wanted to tell you that since last year when I was divorced and had to handle my own investments for the first time, I Have been trying to find someone in the industry to teach me. After trying many avenues and finding NO one who had the ability to teach, I found you.

You are the BEST. I am working my way through your videos, learning and enjoying every minute. You have given me the confidence I need to start managing and growing my investments. Thank you so much!

Mariann

Upcoming events

June 11: Plainview New York

Long Island Stock Traders Meetup

Plainview-Old Bethpage Public Library

7 PM – 9 PM 

Free presentation

July 22: Chicago Traders Expo

All Stars of Options

1:30 – 2:15

Hyatt Regency McCormick Place

***********************************************************************************************************************

Market tone data is now located on page 1 of our premium member stock reports.

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Portfolio overwriting is a covered call writing alternative strategy where out-of-the-money call options are sold against long-term buy-and-hold positions. Generally, these stocks are of a low cost-basis and generate dividend income. We want to avoid assignment to prevent the negative tax consequences of selling stocks that will result in significant capital gains.

Basis of strike price selection

Since share retention is a priority goal, we will select only out-of-the-money strikes with Deltas between 0 and .50, the closer to “0” the better. Next, we must determine what our annualized return goal is over-and-above typical share appreciation and dividend income. Let’s say our portfolio is appreciating 6% per year plus an additional 2% per year from dividend distributions. We may set a goal of an additional 6% per year for a total average annualized return goal of 14%. If we are using Monthly options, that would compute to 0.50% per-month. If we are using Weeklys, it would result in a 0.12% weekly initial time value return goal.

Weeklys versus Monthlys

My personal preference is Monthlys but both will work. However, Weeklys play an important role, when available, to circumnavigate around earnings reports and ex-dividend dates. In both cases, if a stock has Weeklys associated with them, we can sell options on these securities and just avoid the 8 weeks when earnings and ex-dividend dates occur.

Real-life example with Lockheed Martin Corporation (NYSE: LMT)

On 11/9/2018, LMT was trading at $308.56. An annualized covered call writing initial time value return goal of 6% was created. This established our weekly return goal at 0.12%. Since the ex-dividend date for LMT is on 11/30/2018, we will turn to Weeklys at least in the near-term. The option chain was analyzed showing out-of-the-money strikes at $322.50 and $325.00 came the closest to our target goal of 0.12% after entering the premiums into the BCI Portfolio Overwriting Calculator as shown in the screenshot below:

LMT: Portfolio Overwriting Initial Calculations

The brown cells highlight that the $322.50 strike returns a higher return (0.18%) than our target and the $325.00 strike returns a lower return (0.08%) than our goal of 0.12%. By selling an equal number of contracts of each, we will approximate (0.13%) our target initial return goal (0.12%).

Discussion

Weekly options can be particularly useful when selling options against shares in a long-term buy-and-hold portfolio. Only out-of-the-money strikes are used as our initial time value return goals are used to establish how far out-of-the-money we go. The BCI Portfolio Overwriting Calculator can be used to determine which strikes are best-suited for our portfolios based on these goals. Not addressed in this article is the importance of having mastered the position management skill which (as with all forms of option trading) is critical to successful results. All aspects of Portfolio Overwriting are detailed in BCI’s latest book, Covered Call Writing Alternative Strategies.

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Alan,

Thank you so much for all the work you have done to make sense of writing covered calls as an additional income stream.

Wishing you much success,

Tim J

Upcoming events

June 11: Plainview New York

Long Island Stock Traders Meetup

Plainview-Old Bethpage Public Library

7 PM – 9 PM 

Free presentation

July 22: Chicago Traders Expo

All Stars of Options

1:30 – 2:15

Hyatt Regency McCormick Place

***********************************************************************************************************************

Market tone data is now located on page 1 of our premium member stock reports.

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Selling cash-secured puts can be used to generate monthly cash flow and to buy a stock at a discount. It can also be used to lower the cost-basis of shares already owned. In November 2018, John shared with me a trade he was in with Halliburton Company (NYSE: HAL) using precisely this strategy. This article will highlight John’s trades and how he incorporated the information into the BCI Put Calculator.

John’s trades with HAL as of 10/31/2018

  • John’s portfolio currently has 100 shares of HAL at a cost-basis of $46.02
  • Current price of HAL is $35.31
  • 10/31/2018: Sell 1 out-of-the-money cash-secured $33.50 put for $0.64

Calculations with BCI Put Calculator

HAL Put Calculations with Cost-Basis Data

Additional data added to calculator

John added the following data:

  • F6 (Yellow cell at top): Portfolio account number
  • F35 (Yellow cell on bottom): Total cost-basis of 100 shares currently owned
  • F36 (Pink cell): Cost of 100 shares if put is exercised (also cell F22)
  • F37 (Green cell): Average cost-per-share for 200 shares if put is exercised

Strategy benefit

By selling out-of-the-money cash-secured puts, the cost-basis per-share is lowered from $46.02 to $39.44, if exercised. If the put remains out-of-the-money and expires worthless, a 1.95%, 30-day return has been generated.

***The stock repair strategy is another approach to lowering cost-basis when share value declines in a stock-only portfolio.

Discussion

Selling cash-secured puts has many applications including generating monthly cash flow, buying stocks at a discount and the strategy highlighted in this article, lowering cost-basis per share.

Colleges using my book, Stock Investing for Students as required reading for their finance/investing courses

  • University of Maryland
  • Ramapo College
  • Florida State College at Jacksonville
  • University of Maine

I will provide a complimentary copy of a Q&A test book I created based on all chapters in this book to all instructors using this book. Please send the request on school letterhead or with a school email address.

Alan highlighted in Spain’s Traders’ Magazine

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Alan,

First of all, I want to thank you for your wonderful, simple and clear videos on covered calls and cash-secured puts on your YouTube channel. Your slow-paced, clearly-explained videos were God sent to me to understand the mechanics.

Thank you sincerely for these videos.

Haltore

Upcoming events

-May 13th

All Stars of Options

Bally’s Hotel, Las Vegas

10 AM – 10:45 AM

How to Select the Best Options in Bull and Bear Markets

Free event

-May 14th

Las Vegas Money Show

Bally’s/ Paris Hotel

12:15 – 3:15

Master class encompassing covered call writing, put-selling and the stock repair strategy

This is a paid event hosted by The Money Show

***Alan will also be doing book-signing event at The Las Vegas Money Show

***********************************************************************************************************************

Market tone data is now located on page 1 of our premium member stock reports.

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Ask Alan #158 - Profit-Taking Versus Rolling In-The-Money Options Early in a Contract - YouTube

Alan answers a question posed by Jim M, who asks:

Alan,
When our strike price moves deep in-the-money as stock price increases early in the contract how do we decide if we should close the entire position and take profits or roll the option out-and-up? As an example, I bought CRM at $133.31 on January 3, 2019, and sold the February 15, 2019, $130.00 call option for $9.35. On January 9th the stock price was $146.36, and the option was priced at $18.20. What would you do?
Thanks for all you do,
Jim M

———

It’s the 2nd Wednesday of the month. Time for another original episode of Ask Alan. AA#158, “ Profit-Taking Versus Rolling In-The-Money Options Early in a Contract”

If you want more “Ask Alan” videos, you can! Become a premium member today, and tune in to the educational power of the complete library!

More Video:

To enter your questions to “Ask Alan”, fill out the form on the contact page. Be sure to begin your message with “ASK ALAN”

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The screening process for option-selling watchlists includes fundamental analysis, technical analysis and common-sense screens. The BCI team recently added a new screen, the mean analyst rating (MAR), to replace the Scouter Rating (risk/reward) which we had been using for years. This will add an “institutional” component to our analysis.

What is MAR?

An investment analyst is a financial professional with expertise in evaluating financial and investment information, typically for making buy, sell and hold recommendations for securities. In order to reach an opinion and communicate the value and risk of a covered security, analysts research financial statements, listen in on conference-calls and talk to managers and the customers of a company, in an attempt to determine findings for a research report. Ultimately, the analyst decides whether the stock is a buy, sell or hold.

The Scale of Ratings

The analyst ratings scale is more involved than the traditional classifications of buy, hold and sell. There are now various categories that include multiple terms for each of the ratings (sell is also known as strong sell, buy can be labeled as strong buy), as well as a couple of new terms: underperform and outperform.

 

 

Stock recommendation Range

 

Additionally, not every firm adheres to the same ratings terminology: an outperform for one firm may be a buy for another and a sell for one may be a market perform for another. Thus, when using ratings, it is advisable to use a consensus figure like mean analyst rating.

The basics

Let’s review the traditional ratings of sell, underperform, hold, outperform and buy.

  • Buy: Also known as strong buy and on the recommended list. This is a recommendation to purchase a specific security.
  • Sell: Also known as strong sell, it’s a recommendation to sell a security
  • Hold: A hold recommendation is expected to perform at the same pace as comparable companies or in-line with the market moving forward.
  • Underperform: A recommendation that means a stock is expected to do slightly worse than the overall stock market return. Underperform can also be expressed as moderate sell, weak hold and underweight.
  • Outperform: Also known as moderate buy, accumulate and overweight. Outperform is an analyst recommendation meaning a stock is expected to do slightly better than the market return.

It is best to view these recommendations as a consensus stat with at least 3 analyst reviews. These consensus stats should then be used in conjunction with other fundamental, technical and common-sense parameters when making our investment decisions.

Sample free site with MAR stats: finviz.com

 Locating MAR from Finviz.com

 Sample free site with MAR stats: finance.yahoo.com

 

 Location of MAR stats in our Premium Stock reports

 

MAR Stats in Premium Stock report

 

The BCI team will eliminate all stocks with MAR Ratings higher than “3” For those securities remaining, we will publish the precise stats to assist our members in making the best investment decisions possible.

Discussion

Analysts’ recommendations are the culmination of analyzing equity research reports and should be used in conjunction with thorough investment methodologies to make investment decisions. Additionally, buy, hold and sell recommendation meanings are not as cut-and-dry as they first appear; a series of terms and differences in meanings exist behind the basic terminology.

Your generous testimonials 

Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to share some of these testimonials in our blog articles. We will never use a last name unless given permission:

Alan,

I’m very excited to come out to The Money Show in Las Vegas next month to meet you and attend your covered call speaking engagement. You are the real deal and I very much admire what you have created with BCI. I believe in it fully and can’t wait to complete my education and employ the BCI system.

Thanks for all you do to foster financial education.

Kind regards,

Patrick M

Upcoming events

FREE WEBINAR THIS WEEK

-May 8th 

Alan will be hosting a free webinar for the Options Industry Council (OIC) on generating income from selling options. Those who register will have access to the webinar after the live event. Click here to register for free.

-May 13th

All Stars of Options

Bally’s Hotel, Las Vegas

10 AM – 10:45 AM

How to Select the Best Options in Bull and Bear Markets

Free event

-May 14th

Las Vegas Money Show

Bally’s/ Paris Hotel

12:15 – 3:15

Master class encompassing covered call writing, put-selling and the stock repair strategy

This is a paid event hosted by The Money Show

***Alan will also be doing book-signing event at The Las Vegas Money Show

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Market tone data is now located on page 1 of our premium member stock reports.

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