Hello Investors,
Yesterday was an eventful day. We saw a huge swing in the Volatility Index (VIX). It appears to us to be a bearish reversal and we should see it trend lower for a few weeks. That still suggests a little more upside in stocks through to early-mid January. From there, things could turn more choppy/bearish in our view.
We continued our theme of selling covered calls for income. We got filled on the following this morning:
Sold to open: CVX Feb 19th (monthly) 100.00 strike calls for +1.02 credit
Sold to open: EEM Feb 19th (monthly) 55.00 strike calls for +0.21 credit
Sold to open: GM Feb 19th (monthly) 50.00 strike calls for +0.50 credit
Sold to open: BAC Feb 19th (monthly) 34.00 strike calls for +0.29 credit
We also sold one (1) January covered call as follows:
Sold to open: DELL Jan 15th (monthly) 80.00 strike calls for +0.50 credit
Happy Holidays!