We converted our EQT covered call into a 1×2 call spread previously. We did this through buying the 45-50 call spread. We are going to take off that entire position today for a big profit.
Sell to close: EQT Jan 17th (monthly) 45.00 strike call (ratio of 1)
Buy to close: EQT Jan 17th (monthly) 50.00 strike call (ratio of 2)
Credit: 3.48
Profit of $3.05 or +$305.00 per spreadSince we have removed the 1×2 call spread in January we are free to sell another covered call against our 100 shares and have done that today as follows:
Sell to open: EQT Mar 21st (monthly) 60.00 strike call
Credit: 0.52