#SyntheticStock #LongCalls – With my margin hog AMZN position out of the way now it’s time to start looking for new opportunities. I’d like to stay involved in the banks so this seems like a good way to do it. Wasn’t having much luck out in 2020 with the market makers for a 2 strike wide synthetic. Instead, just going to Jan 2019 and buying the straight calls. (only 5 wide strikes in 2019 anyway). As @hcgdavis pointed out, the weekly premium is really nice in this ticker.

Bought to Open FAS JAN 18 2019 65.0 Calls @ 10.50

Max loss of 10.50 with 42 weeks to run so need 25 cents per week to cover.

So: (premiums are so good that this is a freebie. 42 weeks to go is AFTER this week…crazy!)

Sold FAS MAR 29 2018 65.5 Calls @ .85