Wartime Option Strategies: We Can Still Make Money
Covered call writing and cash-secured puts are low-risk option-selling strategies that can be implemented even in challenging market environments. In the 1st quarter of 2026, the US has been experiencing uncertainty and volatility exacerbated by a war with Iran. This article will analyze a $100k defensive cash-secured put portfolio of mine where I used 4 elite-performing securities that resulted in a 22% annualized return.
4 Selected Stocks for the $100k Portfolio
- EQT Corp. (NYSE: EQT): $65.12 on 3/13/2026 (Friday)
- Vita Coco Company Inc. (Nasdaq: COCO): $59.12 on 3/13/2026 (Friday)
- Vista Energy SAB (NYSE: VIST): $66.43 on 3/16/2026 (Monday)
- Marvell Technology Inc. (Nasdaq: MRVL): $91.98 on 3/16/2026 (Monday)
Initial Cash-Secured Put Trade Calculations: BCI Trade Management Calculator (TMC)
- Red circle# days in trade
- Yellow cell: Breakeven price is $58.75
- Brown cells: Initial 5-8 day & annualized returns
- Blue cell: $ amount of premium collected
- Purple cell: % discount on initial price, if exercised
Initial Portfolio Total Returns
- 22.36% annualized
- $4906.00 cash reserve for exit strategies
Trade Status as of 3/20/2026 After 4 PM ET: All strikes expire OTM and worthless
All strikes expired out-of-the-money and worthless. There was no exercise and the initial return of 22% annualized was realized.
Discussion
Our covered call writing and cash-secured put trades can generate significant annualized returns, while still offering substantial protection to the downside. This article analyzed a 4-stock, $100k portfolio which resulted in a 22% annualized return during a volatile and down-market (down > 5% year-to-date) environment.
Stock Investing for Students
A Plan to Get Rich Slowly and Retire Young
Self-investing starting at a young age can ensure a successful financial future and an early and comfortable retirement. So why is nobody doing this? The answer includes such factors as the social pressures facing our youth, certain pre-conceived ideas regarding our ability to successfully self-invest and the education or lack thereof needed to motivate our youth to undertake such a long-term project. The purpose of this book is to change that way of thinking and create a goal and a user-friendly methodology that will facilitate a plan which will allow you to retire financially securely at a relatively young age.
Free training resources
Your generous testimonials
Over the years, the BCI community has been incredibly gracious by sending our BCI team email testimonials sharing stories as to what our educational content has meant to their families. Moving forward, we have decided to publish several of these testimonials in our blog articles. We will never use a last name unless given permission:
Alan,
I must tell you that you are an amazing teacher who knows how to simplify things. I have watched maybe 90% of your YouTube channel, all the course videos and about 60% of your main books.
Thank you!
Roy
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Upcoming events
1. Hollywood Florida Money Show
April 8: Trading Panel
April 9: 2-hour Master Class
3:30 – 5:30
The Put-Call-Put (PCP) or Wheel Strategy
Using Both Covered Call Writing and Put-Selling to Generate Monthly Cash Flow
Selling stock options is a proven way to lower our cost-basis and beat the market on a consistent basis. Two such low-risk strategies are covered call writing and selling cash-secured puts. This presentation will detail how to incorporate both strategies into one multi-tiered option-selling strategy where we either generate cash-flow or buy shares of stock at a discount. I refer to this as the Put-Call-Put (PCP) Strategy, also referred to as the wheel strategy.
The basics and pros and cons of low-risk option-selling strategies will be discussed as well as an analysis of a real-life example and introduction into the BCI Trade Management Calculator (TMC). This seminar is appropriate for those who look to generate modest, but consistent, returns which will enable us to potentially beat the market on a consistent basis while focusing on capital preservation.
April 10: Portfolio Overwriting
11:40 – 12:25
2. Sarasota Investment Group
Portfolio Overwriting: A Form of Covered Call Writing
Wednesday April 22, 2026
Details to follow.
3. BCI Educational Webinar #10: The Put-Call-Put (PCP) or “Wheel Strategy”
Thursday May 14, 2026, at 8 PM ET
Using both covered call writing & cash-secured puts in a multi-tiered option selling strategy. A 68-day real-life example taken from one of Alan’s portfolios will be analyzed.
BONUS: Barry will share a real-life credit spread trade using our BCI Conservative Credit Spread Management System.
Discount coupons and a live Q&A session will follow the presentation.
4. American Association of Individual Investors: NYC Chapter
June 10, 2026, at 6 PM – 8 PM ET
More information to come.
5. MoneyShow Masters Symposium Las Vegas
July 20 – 22, 2026
Caesra’s Hotel
Las Vegas
Details to follow.
6. Toronto Money Show
September 24 – 25, 2026
MaRS Center, Toronto Canada
7. Orlando Money Show
October 5 – 7, 2026
Details to follow.
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