Closed UYG Covered Calls
November 11th, 2009
I took my own advice and bought to close the UYG November 6.00 covered calls I sold back on October 6th. This is a five week return of 2.85%.*
UYG jumped back above the rising 50-day SMA today. The next resistance in the $6.25-6.45 area. I will look to sell December 6 or 7 calls based on the price action this week.
UYG Hourly
* The return is calculated using the premium I received from the sale of the options (less commissions) and the capital required to pay for their possible assignment.