Option Iceman 9:58 am on Monday, May 23, 2016
Tags: CoveredCalls ( 2,200 ), IRA ( 431 )

$SVXY #CoveredCalls #IRA – Sold…

$SVXY #CoveredCalls #IRA – Sold SVXY May 27 2016 58.0 Calls @ 0.75. These expire Friday

Ian 10:38 am on Monday, May 23, 2016

I sold some SVXY as well. Though Im double guessing myself.
Sold June 3 $59.50 call at $90.

I been holding SVXY for so long. It was put to me at $59 a while back. Finally getting to sell some premium.

My thoughts were to get rid of SVXY as soon as I was above water but now I’m thinking I might miss out on good cover call opportunities. The whole reason I got in the first place.

Iceman What’s a good price level to get into sell calls? I like your style but I seem to get in the wrong level.
- Option Iceman 11:58 am on Monday, May 23, 2016
  
  $SVXY – don’t double guess yourself on this covered call. Your strike price is above the high of the year on the stock. If you need to, you can always roll up your option for an additional credit on Friday afternoon just before it expires.
  If you let your stock get called away, I believe that you could re-enter the long position below 53 pretty easily.

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