Slugger926
Well-known member
I have a fund setup with the State's ran 529 plan for both kids, and my mom does too.
I plan on starting up an additional one for each of them through ING with Covered Call trading allowed. In this one, I plan on buying strictly solid, and fairly cheap stocks like DOLE, and then start selling covered calls a couple of months out at a strike price where there is a profit. This will be like getting extra dividends with little chance of getting called out. This approach will bring some stability to dips, and generate extra cash to buy more stocks without the headache of tracking the transactions for tax purposes.
I plan on starting up an additional one for each of them through ING with Covered Call trading allowed. In this one, I plan on buying strictly solid, and fairly cheap stocks like DOLE, and then start selling covered calls a couple of months out at a strike price where there is a profit. This will be like getting extra dividends with little chance of getting called out. This approach will bring some stability to dips, and generate extra cash to buy more stocks without the headache of tracking the transactions for tax purposes.
