Blue Collar Investor Review

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by Gavin in Blog
January 5, 2023 0 comments

Blue Collar Investor Review: Alan Ellman is the Blue Collar Investor at

He has been The Blue Collar Investor for over 16 years, starting in January 2006.

His materials may be referred to as “BCI” for short.



Alan has been in the media numerous times.

Here is just one where MoneyShow interviewed him.

Noticed how the host addressed him as Dr. Alan Ellman.

Some viewers may wonder, doctor of what?

Does he have a Ph.D. in finance? Medical doctor?

While he does not talk about it, he is a doctor of dentistry, having gotten his DDS from New York University.

But we are not here to talk about teeth.

We are here to talk about him as an investor, for which he is more commonly known.

I would suggest that you start by reading his blog

Commodities HQ has listed it as among the top 100 options trading blogs.

He is a prolific YouTuber with numerous videos on his channel, including his “BCI Podcast.”

Perhaps after going through all those materials, you might agree when I say that he is the guru of covered calls.

He does cover (pun intended) other related strategies, such as collars, cash-secured puts, and the put-call-put (PCP) strategy.

Collars are covered calls with protection.

Selling cash-secured puts is the mirror twin of selling covered calls.

And what he calls the PCP strategy is what is more commonly known as the wheel strategy.

If those strategies perk your interest, you may sign up for his free newsletters.

His audience is targeted to the average person who wants to take control of their own investment.

As noted on his site, he wants you to be the “CEO of your own money.”

This may start out as buying and owning stocks.

Blue Collar Investor Review: Selling Calls To Generate Income

He educates the investor on using covered calls to generate supplemental income from those stocks.

A covered call strategy consists of two components, the stock, and the option.

Not only does he have a methodology for picking the strike price of the option, but he also has a methodology for picking the underlying asset as well.

You can certainly learn his methodology from his free material as well as his numerous books:

  • Complete Encyclopedia for Covered Call Writing
  • Selling Cash-Secured Puts: Investing to Generate Monthly Cash Flow
  • Covered Call Writing Alternative Strategies
  • Stock Investing for Students

And his latest book was published in June 2022, which is titled:

  • Exit Strategies for Covered Call Writing and Selling Cash-Secured Puts

BCI Premium Membership

Picking the underlying stock (or ETF) requires some research.

This is where his BCI Premium Membership comes in.

It is not an alert service.

He is not going to tell you which stock to buy.

However, he does tell you what stocks not to buy in his list of “banned” stocks.

I mean, of stocks that he would not buy himself.

You, on the other hand, can do whatever you want.

After all, he is not your financial advisor.

What the Premium Membership provides are various reports:

Monthly Blue Chip Portfolio Reports This is a report on the performance of the thirty Dow Jones stocks.

Many investors like doing covered calls on these Blue Chip stocks because they are large stable companies with a low risk of going bankrupt.

Quarterly High Dividend Yield Stocks with LEAPS Reports This is for investors who are doing the dividend capture strategy.

Weekly Stock Reports Because the covered call is a bullish strategy; you want to be able to pick out the best performer at the current time, rotating them in and out as needed.

Weekly Exchange-Traded Funds Reports ETFs can be great for covered calls because they eliminate the stock-specific risk and do not make large moves caused by earnings announcements.

You can see some of what is inside these reports in his video.

BCI Trade Management System And Calculator

He also has the BCI Trade Management System and Calculator, which took him and his team 1.5 years to develop.

The two main spreadsheets of the system are for covered call writing and selling cash-secured puts.

If you study his materials, Alan Ellman always recommends picking trades that will give a 2% to 4% per month return on the time value of that option.

This is what he calls ROO (return on option).

The trade entry section of the spreadsheet will provide this calculation.

The spreadsheets will also provide traders with exit guidelines and enable them to track the P&L of their trades.

BCI Package

If you want the comprehensive package, the BCI package includes the premium membership, video courses, some of his books in eBook format, and calculators and spreadsheets.


There are many experts in the investment field that are experts at different things.

Alan Ellman, the Blue Collar Investor, is the covered calls (CC) expert.

If you ever wonder when to do ITM, ATM, or OTM for CCs, look to the BCI.

One of the best answers I’ve ever heard for this question is the explanation Alan Ellman gave in the video I linked to at the top of the article.

Oh, you didn’t have time to watch it. No problem.

Bookmark this article so that you can come back to watch it later.

We hope you enjoyed this Blue Collar Investor review.

If you have any questions, please leave a comment or send an email.

Trade safe!

Disclaimer: The information above is for educational purposes only and should not be treated as investment advice. The strategy presented would not be suitable for investors who are not familiar with exchange traded options. Any readers interested in this strategy should do their own research and seek advice from a licensed financial adviser.


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Options Trading 101 - The Ultimate Beginners Guide To Options

Download The 12,000 Word Guide

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