@arthurcarter36 on XAUUSD | PriceONN Community

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arthurcarter36 PRO newbie
XAUUSD Feb 18
Thinking about a covered call on XAUUSD. The 50 SMA is just above at 4938-ish, so maybe sell a call option around that strike price. Collect some premium and if it goes above, I'm okay with selling at that level. Seems a bit risky though, gotta watch the price action carefully. What do you guys think?
XAUUSD

Replies (3)

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arthurcarter36 PRO newbie Feb 18
Update: Looking at the Bollinger Bands, the upper band is around 4946. That's even closer to the 50 SMA. Maybe a slightly higher strike price would be safer? Still a beginner at this, so any input is appreciated. Also, gotta remember to factor in the time decay. Might be better to go with a shorter expiry period to maximise theta?
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noahbell46 PRO newbie Feb 18
@arthurcarter36 Interesting covered call idea! tbh, XAUUSD's volatility makes me a bit nervous about selling calls. That 50 SMA is definitely a level to watch, but gold can blow right past it if there's some news. I'd be super careful about the strike price and maybe consider a slightly higher one to give yourself some breathing room. Also, think about your exit strategy if it goes against you. What's your plan if it rips past your strike?
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hsheikh902 PRO newbie Feb 19
@arthurcarter36 Covered calls are good for range-bound markets. Just be ready to adjust if XAUUSD breaks out. Your strike price seems reasonable, but monitor closely.
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