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Dr. Alan Ellman started trading options in the 1990s. He began with buying and selling stock. When reading an article about IRAs, he learned some allowed you to trade options. He had always heard that options were risky. But he decided to look into it, and covered calls attracted his attention. He taught himself that strategy and the rest is history. Now, Alan is the President of The Blue Collar Investor Corp. His goal is to teach other traders how to sell options the right way. He talks about his covered call strategy in this episode of How To Trade It!

You’ll want to hear this episode if you are interested in...

• [1:18] How Alan got started in options trading
• [2:11] Controlling the risk levels in options trading
• [4:58] How to sell options to make money
• [10:33] The mid-contract unwind exit strategy
• [12:31] How you’d lose money on the stock side
• [14:52] The three required skills for option selling
• [17:21] How Alan screens for stock + options selection
• [28:15] What to do if the stock price keeps dropping
• [31:25] Two factors Alan uses to decide when to sell the stock
• [32:36] How Alan’s strategy works in a bear market
• [36:50] How to learn more about Alan’s strategies 

Resources & People Mentioned

• Get access to Alan’s eight-part video tutorial: https://www.thebluecollarinvestor.com/bci-beginners-corner/

Connect with Dr. Alan Ellman

• The Blue Collar Investor: https://www.thebluecollarinvestor.com/
• Follow on Twitter: https://twitter.com/thebcinvestor
• Connect on LinkedIn: https://www.linkedin.com/company/the-blue-collar-investor
• Watch on YouTube:

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