New Trade – covered call

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]

[/private_monthly]

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