Markets in "covered call" territory
![Image](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg9SknpOAnwz1OU6EOd8ph-9CYiWQeUJQgpnLlK5DrR01iBYuP31NEhnudiOoIetk6iUlFRzH0HSVymSEYRz5smo1G7vapRPOtHwbT8ug91u9zbCc-2VjPVTGvEKMbSz86XzKZOLFmLM6Q3kM_NS4t5Nl1uGlVe5i_milZHnFo7FW9WYrZL0AcY/s1600/compq_nov30c.png)
Bulls have managed to retain control of their powerful rally off October lows. Shorts looked ready to attack with yesterday's bearish 'cloud cover' candestick in the Nasdaq and S&P, but today's action has managed to counter that without really changing the larger picture. If you held index ETFs then current action would be a decent opportunity to sell covered calls against your position. There may be some pullback, but it's hard to see any selling going all the way back to those October lows.