After watching GDX for the past few weeks and it consistently showing a top pick in my ETF-Cashinator™ I decided to Cashinate via ETF Covered Call. I did a buy-write and purchased 200 shares of GDX at $38.50 and immediately sold 2 contracts GDXKL for $1.30. I pocketed $250 which yielded 3 pct return on my portfolio with a 17 day window to either get called or continue to own and write more calls.
*If I get called, I’ll be forced to sell at $38 which will reduce my profit down to 2.11% but if expired then I’ll make 3.3% return. Not bad for a 17 day investment.