On Monday, I rolled my covered call on GSK.
music selection: “Love Me Two Times” — The Doors
The previous covered call expired worthless and now I have another opportunity to earn income while potentially collecting dividends. Glaxo is a great company and I own it at a great price. I am about 10% out of the money using the same strike as my cost basis. I was able to sell GSK160415C00043000 for 25 cents a share. The trade will be in force for 54 days and yields 3.93% on an annualized basis.
This is the basic playbook at the raptor. Sell written puts until assigned and then sell covered calls until shares are called away. Make money on both sides of the trade. I have trades in Dupont, Prospect Capital, and CH Robinson Worldwide to cover in my next three posts M, W, F next week. I hope to get back to the 8 part series on put writing candidates thereafter. In the meantime, life in early retirement is fantastic. I will have lunch with my father today and then probably visit the local arboretum for a long walk.
Devour your prey raptors!