A Covered Call Strategy to Avoid Greed in a Stretched Market
Value investors should consider this strategy as sound stocks become harder to find.
Things I Did Yesterday (And This Week)
* Most importantly, after three down days in a row, I covered my medium-sized SPY short yesterday afternoon …
* I covered my short $SPY into the teeth of yesterday’s decline.
From The Comments Section:
Dougie
With s and p cash -50 handles i am shorting october monthly puts against my short calls.
I also covered some of my short spy calls.
Essentially on the short oct puts i am taking in premium and locking in some profits from the drop in the indices over the last week.
I plan to reshort strength/rally…
* I added to my $MSOS common and calls.
* I reshorted Coreweave ($CRWV) at $99.34 (New)
* I shorted $ARKK at $86.12. (New)
* I added to $CVNA short.
* I covered most of my $GRNY and $JOET shorts.
* Bought back $GLD at $397.01
Position: Long MSOS common (VL) and calls (M), GLD (S); Short SPY calls and puts (M), CVNA common (VS) and puts (VS), CRWV (S), GRNY (VS), JOET (VS)
Semiconductors Have Rallied for Four Days. Can They Make it Five in a Row?
Not much changed in the market today, with the broadening out trade petering out. But can semis save the day?
Covering Some CoreWeave
I am covering some of my CoreWeave ($CRWV) short trading rental at $79.94.
From a week ago:
Back Short CoreWeave
I am back short CoreWeave (CRWV) at $85.58.
Position: Short CRWV (VS)
BY Doug Kass · Aug 24, 2026, 12:14 PM EDT
Position: Short CRWV (VS)
Things I Did Yesterday
Here are Monday’s things:
* I reshorted the indices after the market closed last night — $SPY at $767.32 and $QQQ at $717.13.
* I added to my $MSOS common at $4.94 and call long positions (slightly out of the money for September and October).
* I added to $VRNO at $6.12.
* I initiated a very small $GLD long at $405.42 (which I added to overnight at $401.28).
* I added to my $CRM short at $260.24.
* I reshorted the private equity space — $APO at $137.61, $BX at $142.94 and $KKR at $110.63.
* I reshorted $CRWV at $85.02.
* I reshorted $JPM at $356.14.
Long MSOS common VL calls S VRNO S GLD VS
Position: Short SPY (S), QQQ (S), CRM (S), CRWV (VS), APO (VS), BX (VS), KKR (VS), JPM (S)
Things I Did Yesterday
Here are Thursday’s things:
*I shorted $CRWV at $92.32 and covered at $87.98.
* I added to $GRNY short at $28.03.
* I shorted more $JPM at $456.76 and covered my entire position at $362.82.
* New short $CRM at $252.54.
* Shorted $NVDA $226.08 and covered NVDA at $224.04.
* Added to $VRNO at $5.87, to $MSOS long at $4.79 and initiated short-dated call options in MSOS.
* Covered $QQQ short at $715.98.
* Shorted more $SPY $771.22
Position: Long VRNO (M), MSOS (VL), MSOS calls (S); Short SPY (M), NVDA (VS), GRNY (M), CRM (S)
CoreWeave Covered
I covered the balance of my $CRWV short at $87.22.
Earlier today I added to this short over $92.
Position: None
Adding to Nvidia Short, Covering Some CoreWeave
I added to my Nvidia ($NVDA) short at $225.29 and covered some of my CoreWeave ($CRWV) short at $87.26
Position: Short NVDA (VS), CRWV (VS)
Things I Did Today
Here are today’s things:
* I added to my $SPY short at $767.18.
* I added to ETF shorts $GRNY at $27.89 and $JOET at $46.10.
* I shorted $JPM at $353.71.
* I shorted more $CRWV at $89.06 and $NVDA at $212.04.
Position: Short SPY (VS), GRNY (M), JOET (S), JPM (VS), CRWV (VS), NVDA (S)
Back Short CoreWeave
I am back short CoreWeave ($CRWV) at $85.58.
Position: Short CRWV (VS)