Alan answers a question posed by Sid, who asks:
Alan, Please help. I wrongly speculated that Westmoreland Coal (WLB) would flourish with Trump in office. I bought it for $18.14/share in December and it has tanked to $9.71 today (early May). Can I sell covered calls to get my money back? I will need downside protection in case it bombs further. I need to make something on this investment. Am I on the right track?
I appreciate any advice.
It’s the 2nd Wednesday of the month. Time for another original episode of Ask Alan. AA#137, “Can I Use Covered Call Writing to recover Losses on a Dog of a Stock?”
If you want more “Ask Alan” videos, you can! Become a premium member today, and tune in to the educational power of the complete library!
- For those new to Alan’s system of Covered Call Writing, be sure to take the
Free Beginners Corner Series
- Free Training Videos Archive
- Ask Alan Video Q & A Archive
- Subscribe to our YouTube Channel
To enter your questions to “Ask Alan”, fill out the form on the contact page. Be sure to begin your message with “ASK ALAN”