**Lowering My Cost of QYLD by Selling Call Options ๐**
Investing in QYLD has been a strategy of mine to generate consistent income through its high dividends. However, I also found a way to lower my cost basis by selling call options. By writing covered calls, I'm able to collect premiums regularly, which in turn reduces the overall cost of my shares. Selling these calls provides me with an extra layer of income, on top of the already generous dividends that QYLD offers. While there's a risk of the shares being called away, Iโm comfortable with it because I've set my strike price at a level where Iโd be happy to sell, and the premiums help cushion any downside.
**Monthly Income Boost from QYLD ๐ฐ**
One of the main reasons Iโve stuck with QYLD is its reliable monthly dividends. It consistently pays out around $0.17 per share every month, which, when compounded over time, can provide a substantial income stream. But the real advantage comes from adding options trading into the mix. By selling puts and calls, Iโve managed to earn an additional $0.10 to $0.13 per share every 30 to 50 days. This strategy helps me maximize returns while maintaining the steady income I rely on.
**Paying the Bills with Dividends and Premiums ๐งพ**
This approach has been especially effective in helping me cover recurring expenses, like my monthly phone bill. With the dividend from QYLD alone, Iโm already earning a reliable $0.17 per share each month. But when I add the premiums from selling puts and calls, that number climbs by another $0.06 to $0.15, depending on the market. It might seem small, but these amounts add up over time and provide the financial flexibility I need to cover my bills without dipping into my principal investment.
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