Trade Update – covered call

Stock Symbol: OVTI

Price at time of Trade: $21.25
Target Price: $23

Strategy: Covered Call

Update: This stock has greatly exceeded our expectations. One should never be unhappy about a profit but we'd be lying if we said we didn't wish we had put a call spread on this one instead. Since the 21 strike call we sold is WELL in the money, our position will get called out for the full 4.27% gain.

Current Position (cost basis):

+ 100 shares @ $21.29 per share
- 1 Oct 21 call option @ $1.20

Profit: $91
Called Return: 4.27%


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