Topic

covered calls

Essays and practical guides filed under covered calls.

An editorial illustration contrasts a frantic gambler riding a roulette wheel with a calm older investor collecting a steady stream of coins beside a blue rowhouse, all balanced on one giant coin.

The casino and the landlord

In 2021 a wave of retail traders learned options as lottery tickets. On the other side of those trades sat a quieter investor: the retiree selling covered calls and cash-secured puts, renting out patience for income.

Don Lair · July 22, 2026