Hello Investors,
Options expiration for May has been a very good one. The covered call positions will all expire for a profit of the credit received. We did place a couple of orders as follows:
Sold to open: BAC May 29th (weekly) 24.00 strike calls
Credit: 0.17
We also placed an order to “roll-out” the short BAC puts from May 15th to May 29th expiration. It appears unlikely that will execute today so likely more covered calls will be coming next week.
Finally, if SPY is above 285/share then it will get us “short” the stock this weekend. We will probably only maintain a -50 share short position but will send updates early next week!
Have a great weekend!