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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (4997)7/8/2009 10:57:42 AM
From: CrackheadBob  Read Replies (1) of 5205
 
Hi UF:

I'm still rolling up and out on this position. Here are the next two moves:

I bought back the June 41's at $4.73;
Sold the July 42.5's at $3.77
Bought back the July 42.5's at $1.71
Sold the August 44's at $2.18

Here are the first parts of the trade:

Sold the April 37.5 for a $1.50, and bought them back for $3.75.
Sold the May 40 for $2.60, and bought them back for $.75
Sold the June 41 for $1.55

My final tally right now is that I am up $0.66 total and my new strike is at $44. The stock was originally trading right around $37 when I opened the position with the April $37.5's. I've been able to participate in the roughly 20% move in the stock, still get the dividend payout in June, and am slightly up on the cashflow side. I have not been able to generate as much cash from these shares as I would like since they have been tied up in this trade. My hope is that my strike price is finally where it needs to be to get called out on this next month. If not, I will most likely keep rolling this out.
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