My old covered call expired out of the money.
music selection: “Desire” — U2
Suncoke is a high yielding (22%) MLP in the metallurgical coal space. I own shares with a cost basis of 11.93 a share. The price has been a little depressed lately but I’ve more than made up for unrealized capital losses between options premiums and distributions. I expect good things from this issue. On Monday, I sold SXCP160819C00012500 for 25 cents a share. The trade will be in force for 89 days and provides 8.90% bonus yield on top of the 22% distribution yield. As long as steel remains a primary building material, this one should continue to generate a good yield.
Devour your prey raptors!