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Covered Call Disney (DIS)

My shares of MSFT were called away over the weekend.

music selection: “Son of a Poor Man” — REO Speedwagon

weigh-in:  212.0 +0.8 – Not bad for a week with an obligatory overeating holiday.

The last of the positions I’m trying to exit to raise cash is The Walt Disney Company (DIS).  I hold 100 shares with a cost basis of 100.  Shares are currently at 98.50 and I am writing a covered call to try to exit.  I sold DIS161230C00100000 for 75 cents a share this morning.  The trade will be in force for 33 days and yields 8.30% annually.  I’ve lost some dividend income over the last couple weeks as shares have been called away and I expect to lose some more to tax loss harvesting before year end.  I will be under 100% budget coverage by year end making trading income all the more important.  I hope to reduce the cash I hold in checking and increase my holdings of Closed End Funds after year end to alleviate that.

Devour your prey raptors!

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