Hello Investors,
Today we had a long discussion of what companies are “worthy” of your money. An example of companies that are NOT like Chesapeake Energy and those that may be like Gilead! With that along with a nice setup, we sold a “naked put” to be willing to buy shares of GILD at 70/share. We also went back to the well to sell calls for income on SPY. The trades are as follows:
Sold a GILD June 19th (monthly) 70.00 strike put for +2.40 (only reasonable for those willing to buy 100 shares of stock)
Sold an SPY May 8th (weekly) 293.00 strike calls for +1.04 (only reasonable for those with a portfolio of stocks that are willing to “cap” some upside in the very short-term)
Have a great week!