Writing covered call options is an investment strategy that bridges the gap
between equity and fixed-income investments. It offers much of the upside
potential of equities — but with less volatility. Thus, you canachieve
long-term returns commensurate with stock market returns but with lower
volatility and less downside risk.
The trick is to combine stocks with writing call options against a stock you
already own. Professional investment managers have been using this strategy for
years. Now, U.S. options experts Richard Lehman and Lawrence McMillan unlock for
you the secrets of writing covered call options in this groundbreaking,
The book comprehensively covers everything you need to know, from the mechanics
of implementation to option strategies that are best suited to your investment
goals, complete with caveats that investors must understand before writing
covered call options.
Covered call writing can be used by any stock owner and does not require huge
minimums, margin accounts, or advanced theoretical analysis. New Insights on
Writing Covered Call Options shows how to use this powerful and accessible
investment technique — giving you the edge to enhance your returns and lower
Writing covered call options is right for you if
You want the higher long-term return stocks offer
but don’t like the volatility that comes with it
You like the security of income from bonds and
debt funds, but the yields are too low
You wish there was a way that provides the
attractive returns offered by shares but with less risk.
“The most complete and comprehensive coverage of covered call investing that I have seen” —Ernie Zerenner, President, Power Financial Group, Inc, USA
“A definite eye-opener, and one of the soundest approaches to stock investing I’ve seen” —Brian R.Workman, Senior Vice President, Citi Cards, Citigroup, USA
“This book makes a great case for . . . writing covered calls” —John Murphy, President, Murphy Morris Money Management
Richard Lehman is the principal of Lehman Investment Advisors, USA, an advisory firm specializing in option writing strategies. The firm offers money management and an online advisory service at www.coveredwriter.com. Mr. Lehman has more than twenty-five years experience as a Wall Street derivatives specialist, having held executive positions involving options marketing and sales activities at EF Hutton, Thomson McKinnon Securities, and the boutique investment firm, First Saxonia Securities. While at Hutton, he marketed options to 1,000 sales reps in the Atlantic region along with managing retail investment accounts for option clients, and was named “top broker” in an independent national option trading championship. As a marketing executive for the New York Stock Exchange in the early 1980s, he explored plans for trading of options and futures on the NYSE and edited and produced a 200-page market research study on public attitudes toward investing. Mr Lehman holds a B.S. degree in management engineering from Rensselaer Polytechnic Institute and an M.B.A. in marketing from the State University of New York at Albany. He lives in the San Francisco Bay Area.