Hey Samoth

You said you were thinking of BUYING long covered calls on financials. I think you meant you are thinking of SELLING covered calls on shares of financials you own, am I correct?

If so, selling covered calls is the most conservative option strategy that you can employ, so it's a fine one for you.

Financials are the most volatile thing in the market now = more risk = higher option premiums, so you are likely to get high premiums.

The only downside is that financials are so risky right now, but that's also the reason you can get the high option premiums.

I sold calls on UYG for a few months last year and I did really well with it, but it was risky. UYG is a financial index levered up 2x.

Let me know if you have any questions or anything!