Hello Investors,
First, an announcement. We are moving our live classes going forward to Mondays at 10:00 a.m. ET. We have included a new link to the gotomeeting platform for this meeting below:
We have now passed July monthly options expiration this past weekend. In doing so, it is time for us to renew some income positions. We made the following covered call trades.
Sold a covered call against 100 shares of WBA as follows:
Sold to open: WBA Sep 15th (monthly) 32.50 strike call
Credit: 0.31
Sold a covered call against 100 shares of CVS as follows:
Sold to open: CVS Sep 15th (monthly) 80.00 strike call
Credit: 1.10
Sold a covered call against 100 shares of NEM as follows:
Sold to open: NEM Oct 20th (monthly) 52.50 strike call
Credit: 0.38
We also bought a call spread in Snowflake (SNOW). This is somewhat a hedge against an upside move. Where a downside move would create a lot of profit currently. The details are as follows:
Bought to open: SNOW Aug 18th (monthly) 180.00 strike call
Sold to open: SNOW Aug 18th (monthly) 197.50 strike call
Debit: 5.75
Max risk = 5.75 or $575.00 per spread
Max reward = 11.75 or $1,175.00 per spread
Have a great week!