Reallifetrading
Short

SPY covered call

AMEX:SPY   SPDR S&P 500
Selling the July 204 #coveredcall. Buying to close the previous one at 213.
I expect SPY             to continue a tad lower. One could also consider an ATM call if they are profitable if it gets exercised. A lot of premium and volatility here. Looks like the 200 SMA acted as a great resistance today. I do anticipate SPY             trading lower after this retest today.

I wouldn't advise to buy SPY             here JUST to sell the covered call.
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