NaughtyPines

OPENING: GNW COVERED CALL

NYSE:GNW   GENWORTH FINANCIAL INC
Taking advantage of this "little" dip here to initiate a covered call in this little, high implied volatility bugger (at some point, I'll make the move to "quality" ... ).

Metrics:

Bought Shares at 4.73
Sold Oct 21st 5 call
Whole Package: 4.40
Max Profit: $60
ROC: 13.6%
Oct 04
Comment: Covering this setup here for a 4.82 credit; net profit of $35 per 100 shares/contract (7.95% ROC). It hasn't moved much since I put it on, so I thought I'd take the opportunity to take profit here.

Comments

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