Easy to use. Clean interface. Free trial.Cons
You have to own 100 shares of stock before you can write a covered call against it.Verdict
Best of breed covered call screener that anyone can use to generate recurring monthly income from stocks they own.
Born To Sell's Covered Call Investment Tools Are Easy To Use
Born To Sell solves this problem and shows you how to make recurring monthly income from stocks and ETFs (exchange traded funds) you already own. It is a covered call screener and portfolio management tool for investors.
The first part, the covered call screener, is an elegant way to search and sort 240,000 possible covered call investments to find a handful that you actually want to invest in for the next option cycle. Then, after you've made your trades (which you do at your broker, not Born To Sell), the portfolio management tools help you track the time premium remaining in each position so that you can maximize your monthly income. By visually showing you the time decay in each of your positions you can quickly see which ones need to modified prior to option expiration day and which ones you should allow to expire.
Additional features include:
Dividend Search -- for those implementing a dividend capture strategy. All the results on this page have an ex-dividend date prior to the option expiration date.
Income Goal Search -- you tell it how much capital you have and what your income goal is; the site will then create a list of candidate investments that help you reach your goal.
Top 10 -- The top 10 list of covered calls across all Born To Sell members. If you're not sure which investments to make then take a look at this crowd sourced list and you'll see the most popular trades.
Rolling Calculator -- a tool to help you plan modifications to any existing covered call trades you are currently in. It will instantly compare your current position to 14 alternatives, making the act of 'rolling' (position modification) much easier.
Filters -- allows you to instantly remove high-risk trades from the results. For example, you can remove all options that have an earnings announcement before expiration, or all options on stocks with high P/E multiples, or ones that have an ex-dividend date before the option expiration date, etc. There are over 20 different filters to help you massage the results into something that you're looking for and meets your risk/reward criteria.
Cover Me -- this planning tool looks at all of your uncovered positions and shows you what kind of income you could make over the next 3 months. It allows you to change you personal bullishness or bearishness on each individual position and see the results on your monthly income.
Diversify Me -- this tool compares your stock positions by industry sector against the S&P 500. It will show you if you if you are over or under weighted in any sector and, if you are, help you balance your portfolio.
Selling call options against stocks you own is not new; it has been around since 1973. Hedge funds do it. Professional investors do it. But now, for the first time, the process is easy enough that anyone can understand it and take advantage of the strategy.
How much can you make? A good rule of thumb is 1-2% per month (12% to 24% per year). Some people successfully report 3%/month (36%/year) using the strategy. In any event, it pays more than cash (which is near 0% right now) or highly rated bonds (about 2-3%/year right now).
For it's intuitive interface, easy of use, and successful investment strategy, we give Born To Sell full marks. They offer a two week free trial so there is no risk to check it out. There is also a free covered call newsletter, blog, and tutorial.
Visit the official site for Covered call investment tools
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