Pick of the day
this is my pick of the day
Buying 1000 shares of Ford at $4.20 then selling 10 contracts covered call $2.50 Jan 2011 for $2.80
Upside is that I get called away real quick and profit $1.10/$2.50 = 44%
Downside is the stock can drop to $1.40 for a breakeven
Is this doable, are my calculations correct & does anyone have their own picks or comments on this?
Buying 1000 shares of Ford at $4.20 then selling 10 contracts covered call $2.50 Jan 2011 for $2.80
Upside is that I get called away real quick and profit $1.10/$2.50 = 44%
Downside is the stock can drop to $1.40 for a breakeven
Is this doable, are my calculations correct & does anyone have their own picks or comments on this?
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