#CoveredCalls #LongCalls #LEAPS – Not getting much of a bounce so converting the stock into a LEAPS position out to 2021. Rolling the stock loss into the basis of the LEAPS. Frees up a lot of cash and takes risk off.

Sold WTW Stock @ 48.46
Bought to Close WTW NOV 9 2018 51.0 Calls @ .55 (sold for 1.15)

Exited the position with the stock at a basis of 57.61 and added a couple extra LEAPS (300 stock vs 5 LEAPS now)

Bought to Open WTW JAN 15 2021 50.0 Calls @ 15.00
Sold WTW DEC 7 2018 55.0 Calls @ 1.00

Factoring in the stock loss the new LEAPS basis will be 20.50. I’ll sell the calls about every 30 days to give it some recovery room. Still only need about 75 cents every 30 days. Goal is to get out at even unless it really gets on a run.