Whether you are an experienced call trader or simply starting out, covered call investing can be a safe and lucrative way to make money off your shares. If you are serious about making money this way though, you will need some help in the form of portfolio management – not only can it be time consuming without assistance, but you might also miss out on more lucrative deals.
Think of it this way – if you have one house, managing it is not such a problem. Now imagine you are managing an apartment complex with 30 or 40 apartments. You would need some form of assistance, wouldn’t you?
In the same way, only having one block of shares to manage is relatively simple. It becomes more complicated when you start to write and sell call options. To get a truly diverse portfolio, you need to have more blocks of shares. With every block of shares that you add, and all the possible call options that could be issued against these, portfolio management tools become a necessity.
That is where Born to Sell comes in. For a simple monthly subscription, you are given access to a powerful suite of tools to help save you time and money.
You will receive full support in the form of written and video training to help you make the best of tools and so that you fully understand what call trading entails.
The site itself is intuitive to use and, with the free training offered, even a newbie could start to turn a profit when it comes to call option writing.
Here is a breakdown of a few of the top tools:
If you are not sure how to proceed, the Top 10 tool with show you the most popular calls over the entire network, in an anonymous aggregated format. You get to see what options are most popular in terms of stocks and expiration dates and can formulate your own strategy accordingly.
Alternatively, you can use the Income Goal tool to get the system to filter through the results for one that will match your specific needs in terms of income goals.
There are several other search options available as well – the idea being to ensure that you can maximize the amount of time to spend on making money, rather than wasting too much time with research – it is like having your own research assistant on call.
Portfolio Management Tools
Once you have a portfolio set up, you need to manage it and this is where the powerful portfolio management tools come into play. Born to Sell is unmatched anywhere in the industry for the range of quality tools available.
You can get an overview of all your positions on the Summary screen. For a more in-depth look, go through to your Dashboard.
The personal calendar highlights the dates that your shares are paying out release or dividend earnings.
Of particular interest to the serious investor is the Cover Me tool – this will allow you to play out different scenarios as regarding the options you want to sell so that you can select the scenario that will be most profitable in terms of your goals.
The Roll Me tool is unlike anything else available on the market. It allows you to see what would happen if you were to repurchase any option sold and resell it with a different expiration date. This tool allows an in-depth look at 15 different options and how a change in date would affect return, profitability, etc.
The Diversify Me tool allows you to see whether or not you have too much invested in one particular industry and what the S&P 500 norms are. This report is broken down by industry.
You also have access to your complete history at the click of a button.
As mentioned before there are extensive tutorials on the site explaining call option trading. The support does not stop there though. You can opt in for email notifications as well – options such as Dividend Alert or Watchlist Alert help you keep a finger on the pulse of your investments and also positions that may interest you. You can also subscribe to the company newsletter in order to receive the latest industry tips and tricks.