Covered Calls 8/21 and Actions

All the positions below are part of covered call strategies across three accounts. Assigned on a couple I wasn’t planning on. Just couldn’t get all the trades done. Internet at the cottage in Canada is functional….but not ideal.

#coveredcalls-2

XLK

#DiagonalButterfly

XLK @ $118.18

BTC $XLK Aug 21: $110 short straddle @$7.65 (originally sold @ $6.70)

Scaled into additional LEAP strangles earlier in the month, so layered on additional short terms straddle sales

BTC $XLK Aug 21: $115 straddle @$2.65 (originally sold for $4.41).

This turned the Aug 21 set of straddle sales into a profit.

STO $XLK Aug 28: $117.5 straddle @$2.94

Cover is the Jan 22: $90 call / $125 put long strangle @ $50

MDLZ

#DiagonalButterfly

MDLZ @ $57.47

BTC MDLZ Aug 21 $56.0 short straddle @ $1.70 (originally sold for $1.03)

Assess on Monday, but planning to move to strangle rather than straddles sales and 14 DTE.

Cover is the Jan 2022 long $40 put / $65 call strangle.

XLF vs. FAS

XLF @ $24.36

BTC XLF Aug 21 $25 short straddle @ $0.68 (originally sold for $1.02)

Cover is the Jan 2022 15 PUT / 30 CALL long strangle @ $ 1.56

New set of straddles for XLF to be sold on Monday.

FAS @ $36.38

BTC FAS Aug 21 $40 short straddle @ $3.70 (originally sold for $3.34)

STO FAS Sep 04 $36 short straddle @ $3.29

Cover is the FAS Jan 2022 20 PUT / 70 CALL long strangle @ $ 10.28

It’s early days but I’m expecting FAS volatility to be too high for this strategy. I’ve already moved to selling 14DTE for FAS, the next modification will be selling strangles rather than straddles.

#DiagonalButterfly

Update on ABT CC, Profit $8,497 in 87 Days, 31.1% Return or 130% Annualized

Our Covered Call strategy on ABT was established with the purchase of 300 shares on May 26. Since that time we have added to the position with 300 shares on 6/25 and 400 on 8/21. Covered Call strategy on Abbott has performed well aided by an upward move in the stock. We have rolled the options 13 times and had two expirations. Abbott is attractive for CC Writing as it trades weekly options, potential for growth on the stock price and pays a dividend.

#abt, #coveredcallcampaign, #coveredcalls

EWZ

#DiagonalButterfly

BTC EWZ Aug 21 $31.5 straddle @ $1.96 (sold for $1.48)

With last Monday’s sharp decline on EWZ I used the opportunity to add to my long LEAP strangles and then made a corresponding weekly straddle sale at the lower ATM strike ($30) – this turned the combined set of weekly sales into a profit:

BTC  EWZ Aug 21 $30 straddle for $0.49 @ (sold for $1.29)

Cover is EWZ Jan 2022 long strangle $27 call / $37 put.

Gut feeling told me to hold off from selling the new set of weekly straddles until I see how the market unfolds on Monday.