On 23NOV2015, I wrote covered calls on SunCoke Energy Partners, L.P. (SXCP).
music selection: “Blow Me Away” — Breaking Benjamin
weigh-in: 216.2 (0.6) Not bad for a week with “Turkey Day” in it.
Previously, I opened a buy/write strategy on SXCP. A follow up trade saw an addition covered call written. I’m going back to that well again. Shares are a little beaten up so yield is weak this time around. I’m content to hold shares however as this is a great dividend growth story.
I sold SXCP160520C00012500 for 0.05 a contract. The trade will be in force for 180 days and yields an annualized 0.81%. Pedestrian compared to most of my trades but still quite a lot more than people who are just holding and not tapping the power of covered calls for bonus yield.
Devour your prey raptors!