We got put shares of Disney (DIS) over the weekend. We sold a covered call against those 100 shares today as follows:
Sold to open: DIS Oct 20th (monthly) 85.00 strike call
Credit: 0.70
We also sold another covered call against our OXY shares. We already have a covered call but it is way OTM at the 72.50 strike. So, this adjustment does make that covered call “naked” for the next couple of weeks. If uncomfortable or unable to be naked calls, then one could simply “buy to close” that covered call as needed.
Sold to open: OXY Oct 20th (monthly) 65.00 strike call
Credit: 0.84