TGT was assigned to me on Friday.
music selection: “Temptation” — Venom
weigh-in: 204.6 (2.2)
Target is showing sales growth. This is largely driven by capex in omni-channel distribution. They are positioning themselves to compete with Amazon and Wal-mart. The market didn’t like the drag on the bottom line and punished shares. As a result, I was assigned on Friday.
I’m keeping my position in Target and will write covered calls while I wait to collect the underlying dividend. I sold TGT180427C00077000 for 49 cents a share. The trade will be in force for 50 days and yields an expected 4.65% annualized.
Devour your prey raptors!