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Friday Expiry (DIS)

A covered call on Disney expired in the money.

music selection:  “Loves Me Not” — t.A.T.u

Disney closed the day at 104.22.  My 100 covered call is in the money and results in shares being called away.  The trade was in force for 33 days and yields 8.30% annualized.  For now, I’ll be saying goodbye to Disney.  I’ll be deploying some cash towards a long term Closed End Fund income holding.  Ultimately, I will get back to writing puts on dominant cash gushing businesses like Disney, Intel, Qualcomm, and others.

I’ve been very defensive since October and will be looking to extend my exposure in the new year.  The election is over and the market is breathing a sigh of relief.

Devour your prey raptors!

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