Luck or skill? You decide but it looks like the 1000 UNG shares I bought last week at $39.60 will be assigned as UNG is now trading at $44.80 (as I write this) so that means I’ll be forced to sell my shares at $40.00. This means I’ll be making about ~$400 this week during this “turbulent” market in addition to the $1200 I made last week. Remember, ETF CoveredCalls allows me to earn a profit when markets are excitedly up (like UNG) and when markets are down (like EEB).
Speaking of EEB, it is currently trading below the $38 strike calls I sold so this means that I’ll have an opportunity to hold on to EEB and sell September or December calls at the $38 strike.
Later after the markets close, I’ll power up the ETF Cashinator to see what the best deals are for September. I hope you’ll tune in later….
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