Learn covered calls, one lesson at a time.

Twenty short lessons that take you from "what is a covered call" to "I know exactly what I'm doing." Read in order, or jump to any topic you want.

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Time & Decay

Every Day That Passes, You're Getting Paid

Most investing requires something to happen. Prices rise, dividends get paid, earnings beat estimates. Covered call sellers have a different relationship with time: they collect money when nothing happens at all. Every day that ticks by, the option they sold loses a little more value — and that e...