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Free Covered Call Trades for September 2011

Stock futures pointed to a higher open this morning after an optimistic speech by Fed chief Ben Bernanke last week extended investors’ hopes for further stimulus measures by the Fed. Hurricane Irene hit the east coast but largely spared New York City. Major U.S. exchanges will all be open as normal for trading. Since workers from the outlying regions of New York are expected to face challenges commuting into the city, however, trading volume may be thinner than usual. Most Asian stock markets rose Monday for a positive start to the week as Friday’s Wall Street advance after Federal Reserve Chairman Ben Bernanke’s speech encouraged buyers. Chinese stocks were sold down, however, as concerns about monetary tightening returned. Reports said the People’s Bank of China has announced new measures that would in effect increase the amount banks must set aside as reserves. The Shanghai Composite Index declined , following media reports that China has asked banks to include their margin deposits in the reserves required at the central bank. The move will drain liquidity from the financial system. European stock markets traded sharply higher Monday, with investors buying shares amid optimism after a speech from Federal Reserve Chairman Ben Bernanke last week, while a merger for two Greek banks rallied shares in Athens. Markets in Europe and Asia were encouraged by Friday’s gains on Wall Street, driven by Bernanke’s comments that the Federal Open Market Committee would weigh options on monetary policy at the next meeting in September. Bernanke spoke at a conference in Jackson Hole, Wyo. The aftermath of Hurricane Irene and several U.S. economic indicators will also be a focus for Monday trading.

The VIX is still around 40 which is higher than we would like it to be in the market.  With high volatility comes higher option premium.  If things stay positive we could see a volatility collaspe which will decrease premiums so be on the outlook to buyback sold calls if the prices decreases significantly.  Here is a list of free covered call trades for September 2011:

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