Criticize my strategy:
I financed a car and I had planned on paying it off with QQQ proceeds right away. Instead, I wondered, what if I just sell covered calls and use the proceeds to pay down the principal? If the call gets executed, I'll just use the proceeds to pay it off like I had originally planned. I'll set a sell limit so I don't end up holding the bag if there were any obscene market drops (let's say greater than 5%).
Where could my plan go wrong? I'm sure I'm not thinking of something (I thought of taxes).
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