Originally, I was going to sell a January 09 call, but after some advice from a fellow TK blogger, I decided to sell a July call instead due to the fact the amount of aggregated premiums I can gain selling multiple short term calls will most likely exceed the premium I could gain from selling a longer term call ( due to the shorter time decay ). I was thinking of selling at the 72.50 strike, but decided to take a smaller premium and set the strike at $75.00. If the option is exercised, I'll get to keep the premium and make a tidy profit on the stock sale ( around $400 ). If the option is underwater at expiration, that's fine too. I like this stock and don't my holding on to it for a while - especially in this macro economic environment ( which is why I set the strike at $75 instead of $72.50 ), I'll just sell another covered call with an August expiration.
UPod > Trade Notes
Member since: Dec 07 
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UPod: Trade Notes
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