NYSE:JCP   J.C. PENNEY COMPANY INC HOLDING COMPANY
With an implied volatility rank of 96 and favorable break even metrics for the setup, JCP             presents a fairly decent covered call opportunity here.

Buy 100 shares JCP             at 6.63
Sell 1 Jan 29th 7 short call
Entire Package: 5.94 debit ($594) (which will be your per share break even -- $5.94, which is slightly above the 52-week low)
Max Profit: $106 (if called away at $7)

I look to take these off intratrade if the profit exceeds what I would make if called away; otherwise, I continue to sell short calls against (or roll the short call when its value reaches near worthless) at strikes at or above cost basis break even.
Comment: Didn't get a fill today, which isn't necessarily a surprise, it being Monday. I may try again tomorrow if implied volatility rank remains high ... .
Comment: This still looks like a fairly good setup, although the premium isn't as rich to the call side as it was when I first posted and the break even is now north of $6.15/share if you go with a Feb 19th expiration for your short call ... .
Comment: Filled for 6.36.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out