Doing the VOO and chill, have accumulated enough to write a covered call, are there any real downsides?
Have finally accumulated 100 shares of VOO.
Wouldn’t mind accumulating a bit of extra income writing a way out of the money covered call every month but as with anything, am worried about any little-known risks I may be opening myself up to.
I am aware the price could spike and the shares could get called away and I could miss out on some gains. My plan there would just be to rebuy as many shares as I could and continue accumulating until I could write another covered call.
But is there anything else I should worry about or do many of you do this and is it worth the extra dollars in the long run?