beginners corner

Free Resources For The Options Trader

documentBasic Ellman Calculator

This amazing tool will make your covered call calculations a non-issue even if you are mathematically challenged.

Simply access an “options chain” and enter a few figures (in the “blue cells”) and you will learn (in the “white cells”):

  • Option return (our initial profit)
  • Upside potential (possible additional profit)
  • Comparison results of using the different strike price choices
  • Downside protection (how much your premium protects your initial profit)
  • The profit and protection if rolling your option to the next month

Print out the spreadsheet and take it to your computer as a reference while entering your covered call positions.

document Basic Ellman Calculator User Guide

This 8-page document will explain each of the tabs of the Basic Ellman Calculator with examples. Print it out and keep it handy until this tool becomes second nature to you.

documentBasic Calculator Device Cheat Sheet

This single-page cheat sheet shares specifics about which devices the Basic Ellman Calculator operates under and the recommended software to use for best results.  Handy reference for all Blue Collar Investors.

User Guide For Put Calculator

The BCI Put-Selling Calculator is designed to show both unexercised and exercised results when selling cash-secured puts.

BCI System Put-Selling Calculator

BCI System Put-Selling Calculator. This system is designed for selling cash-secured puts.

Ellman System Options Calculator (ESOC)

Highly searched for tool yours free of charge.

Watch a video about the Basic Ellman Calculator For more info about the calculator, read the following blog article: Covered Call Writing- Using the Multiple Tab of the Ellman Calculator

List of companies that report risky Monthly sales          reports or “Banned Stocks”

This file contains over 20 stocks that are banned from use in the BCI methodology for covered call writing and put-selling. The reason is that they report either same store retail sales or airline capacity reports on a MONTHLY basis and this represents similar risk as do earnings reports.

documentProfit & Loss Spreadsheet

This tool (created by BCI member Martin) can be used to calculate monthly and annualized gains or losses after a trade has been finalized.

documentOnline Discount Brokerages-what to look for

This is a list of online discount brokers that have been used and recommend by BCI members and available to research by members who are looking for their first broker or looking to change from the current service they are using.  

documentSample Premium Stock Report

This is a list of stocks that have passed the BCI screens and eligible for covered call writing. These lists are available to premium members on a weekly basis and are to be used as a time-saver as opposed to a list of “stock picks”. “We report, you decide”. These are companies that have “survived” the very strict screening requirements inherent in the BCI methodology. Our team works many hours each week to provide this outstanding service to our premium members.

documentSample ETF Report

This report provides a list of exchange-traded funds that have outperformed the market over the past 3 months. They have also minimum trading requirements and, of course, have options associated with them. All have relative strength ratings of 65 or higher. All entries on this list are eligible for covered call writing based on your return goals and risk tolerance.

documentSample High Dividend Yield Stocks with LEAPS Report

This report is produced on a quarterly basis and provides a list of high dividend yielding stocks (between 4% – 8% annual yield) which also have LEAPS options available. These securities are used for those looking to enhance dividend yield by writing long-term call options on the underlying security

documentFAQs for Website

Covered call writing is a low-risk option-selling strategy that generates an income stream by purchasing stocks and selling options on these securities.


DISCLAIMER The Blue Collar Investor Corp., publisher of the Blue Collar Investor Premium Report, is strictly a research publishing firm and falls within the publisher’s exemption of the definition of an “investment advisor” and is of general and regular circulation. The information co Read More ntained herein should not be construed as personalized investment advice, and should not be considered a solicitation to buy or sell any security or engage in a particular investment strategy. There is no guarantee that the views and opinions expressed in this newsletter will be profitable or come to pass. Investing in the stock market involves gains and losses and may not be suitable for all investors. The information we provide and publish is based on our opinions plus our statistical and financial data and independent research. They do not reflect the views or opinions of any registered corporate affiliate. Past performance is not indicative of future results, as all trading involves risk. For all investment advice please seek the help of a licensed professional to determine if option and or equity trading is suitable for you. Please do not e-mail Alan Ellman, the Blue Collar Investor Corp., or any of its affiliates seeking personalized investment advice. This is not something that we can provide. Neither Alan Ellman, The Blue Collar Investor Corp., nor any of its affiliates shall be liable for any errors, omissions, or delays in the content herein, or for any actions taken in reliance thereon. Data is deemed accurate but is not warranted or guaranteed. Prior to buying or selling an option, investors must read a copy of the “Characteristics & Risks of Standardized Options,” also known as the options disclosure document (ODD), which is located at: Written and published by The Options Clearing Corporation, this booklet explains the purposes and risks of options transactions, as well as the characteristics and risks of exchange-traded options.

Additional Resources

The Beginners Corner

The Following 8 Lessons on How To Invest Will Be Covered In The Beginners Corner:

  • What is Covered Call Writing?
  • Option Basics
  • Stock Selection Using Fundamental And Technical Analysis
  • Stock Selection: Common Sense Considerations
  • Calculations: Stock and Option Selection
  • Executing Covered Call Trades
  • Exit Strategies: Monitoring Your Stock and Options Positions
  • Step-By-Step Process for Mastering Covered Call Writing

Browse the Store

Alan’s best selling books and additional resources can be found in the store. You will also find the Elite version of the ESOC (including Unwind Now Tab + Schedule D for tax organization).

Our Premium Membership

We’ll spend hours per week screening stocks so you won’t have to. Try it out for $19.95 for the first month and take advantage of this One-Of-A-Kind service.

How To Use the BCI System on an Ipad