Stock Symbol: [private_monthly]WFC[/private_monthly]
Price at time of Trade: $25.75
Target Price: $29
Strategy: Covered Call
Reasoning:Expect that stock has bottomed here at $25.55 and see it heading back up to 28 – 29 within the next 30 days.
Trade Details:
BTO 100 shares for approximately $25.75 per share
STO 1 Sep 26 call option for approximately $0.93
Uncalled Return: 3.6%
Called Return: 4.6%
Effective Cost basis = Approximately $24.82
Chart:
[private_monthly]
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