For several weeks now, NVAX has dropped by more than the premium income she received for an overall loss in her “fun” portfolio.
As we frequently state, with the habits of the Monday Morning Program, luck hardly matters. Writing covered calls does require luck. Last week, she was lucky! NVAX rose to $40.24 and she collected $US8,050.00 ($US3.50 times 2,300) from NVAX growth in addition to the $US2,309.03 in premium income for a total of $US10,359.03 ($US8,050.00 plus $US2,309.03).
When she was in practice, she would have considered that to be an exceptionally good week’s income. Writing the 23 covered call contract on NVAX, she earned that before breakfast last Monday morning, June 13.
Of course, she was assigned having written the 23 covered call contract at a strike price of $US.40.00.
So, what are her plans for today when the market opens at 9:30 AM?
What is the worst that can happen?
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