Covered Calls for Fun & Income

February 28, 2009

New – GRMN on Watch List

Filed under: Covered Calls, Investing — Tags: , , , , , , , , — Jeff @ 1:34 PM

On my watch list for the coming week, GRMN caught my eye on the NASD 100 from the CallWriter real-time lists.

Referring to my trade plan, the following attributes look positive: STO heading up from 20, Fundamentals excellent, earnings not until 4/22, price at 20MA, price range-bound, Quality 76% bearish (at least 4 reasons to enter the trade).

A Covered Call at a strike of MAR 7.50 would come in at 7.36% if called out on 3/20 – not bad for 20 days. Even if it isn’t called out, the price is showing strong support at about 14.50, which would mean I could continue to write calls in future months to lower my cost basis.

NVDA Update: If price holds or rises on Monday, I will probably bail and take my 10% and reduce my risk if I hold longer.

AGU Update: It is now off my watch list.



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