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Chesapeake Energy Position Adjustment Update Create Covered Call April 12th – 40%+ potential return

OPTION WHEEL IN ACTION – 40%+ potential return

 

STRATEGY: Sell cash secured put, get shares, create covered call, REPEAT…OPTION WHEEL

 

NEW ALERT Adjustment: SELL CHK May $6.00 Covered Calls @$0.60 for each 100 long shares to lower cost basis to $4.25

 

 

CHK shares were originally assigned at $5.70 from the November option sale to buy stock at major discount. http://www.bullseyeoption.com/trade-alert/new-trade-alert-october-28th-chesapeake-energy/

 

A December covered call was sold for $0.25 to lower basis to $5.45.

 

A March covered call was sold for $0.60 to lower basis to $4.85.

 

Today’s rally presents the opportunity to sell covered call for $0.60 to lower cost basis once again now to $4.25.

 

40% return if called out at expiration May 20th.

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