NaughtyPines

TRADE IDEA: LC COVERED CALL

NYSE:LC   LENDINGCLUB CORP
25 0 3
Metrics:

Buy 100 shares at 5.41
Sell Oct             21st 5.5 call
Whole Package: 4.93 db             (4.93/share's your break even/cost basis)
Max Profit: $57 (if called away at 5.5)
ROC: 11.6%

Notes: I've looked at this underlying several times over the past several weeks, as it keeps popping up on my high implied volatility screens. The good thing about the setup: the short call strike is near to current price, so price needn't move much to finish above 5.50 at expiration. The bad thing about the setup: lows are around $4/share, so it could cave into the poo pile its longer-term charts make it look like -- a post-downhill slide from its initial public offering price of >$25 per share, although support is ZigZag indicated at about 5.15.
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