OPENING (IRA): UAL APRIL 17TH 70 MONIED COVERED CALL

... for a 66.40 debit.

Metrics:

Max Loss: 66.40 (assuming the stock goes to zero)
Max Profit: 3.60
Return on Capital at Max: 5.42%
Break Even/Cost Basis In Shares: 66.40

Notes: Selling nondirectional premium in the margin account, (See Post Below), but looking for a quickee dirtee in the IRA. The natural alternative is to sell the 70 put, paying 3.50, with a resulting cost basis of 66.50.

Trade active:

Rolling the 70 down to the 67.50 for an .83 credit. BE at 65.57.

Trade active:

Rolling the 67.50 down to the 65 for a .27 credit; cost basis at 65.00 even.

Trade active:

Pulling off the April 65 C for .03 here, with a resulting cost basis of 65.03. Selling the May 20 delta 50's for 1.27 with a resulting cost basis of 63.76. Opting to sell below cost basis closer in time over going longer duration.

Trade active:

Rolling the May 50's on approaching worthless to the June 43's (20 delta) for a 1.01 credit; cost basis of 62.75.

Trade active:

Aggressing on this loser here: Rolled the June 43's down to the June 25's for a 2.82 credit. Cost basis of 59.93.

Trade active:

Rolling the June 25's to the September 30's for a .77 credit; cost basis of 59.16.

Trade active:

Laddering out on the put side by selling the August 25P's and September 24P's for a total of 3.58. Cost basis of 55.58.

Trade active:

Out of the August 25's for .22 here; scratch at 55.80. Still have the September 24P's on, so have a September 24/30 covered strangle.