The US economy just finished its worst quarterly drop on record!
Many of our members just finished their best quarterly rise ever!
Did they do it by selling short? Short selling has a proven record of providing gains during market drops. In 2007, for example, John Paulson earned almost $4 billion by betting against the US subprime mortgage lending market.
Nevertheless, the Monday Morning Millionaire Program recommends against short-selling; the losses can be unlimited. Short sellers can lose more than 100% of the money they put in.
They did it by writing (selling) just out-of-the-money covered calls on Novavax (symbol NVAX) on Mondays, expiry date, Fridays of the same week. Our members were able to earn more than 2% per week! The last example, C 31JUL20 140.00, was placed was sold on Monday, July 27.
On Friday, July 31, NVAX closed above the strike price, Our members were assigned and are now fully in cash. An old Wall Street saw: “You can’t go broke taking a profit.”
Our members are now in a position to write cash-covered puts on NVAX or any other security, for that matter.