June Expiration
Today is the expiration of our two June Covered Calls. Here is where we stand with each …
Let’s begin with our Pan American Silver (PAAS) covered call. Initially, we bought the stock for 18.75 and sold the June 19 call for $1.10.
Today the stock is trading at 20.45. My plan is to simply let this position play itself out. If PAAS closes above 19 today (very likely), we will walk away with our profit of $135 per covered call, or a yield of 7.64%.
Moving on to Robinhood (HOOD). Last month we bought the stock at 20.85 and sold the June 20.5 call for $1.60.
Today the stock is trading at 21.5. My plan is to simply let this position play itself out. If HOOD closes above 20.5 today (today) we will walk away with our profit of $135 per covered call, or a yield of 7.01%.
Good month of trades.
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