Wells Fargo was assigned to me over the last weekend.
music selection: “Piano Man” — Billy Joel
I did a follow up trade on Wednesday. I was able to sell WFC151023C00057500 for thirty cents. This would exit the position at the entry strike if called. Annualized yield is 4.23% over 45 days. Not too shabby.
I hope to retain these shares as Wells Fargo is a screaming buy right now. Recent weakness in the overall market suggests I should be able to hold onto my shares at this strike. It will not be time to seek an exit until shares are trading for two and half times book value, the historical average for the stock.
Devour your prey raptors!