Wednesday, August 3, 2016

COP Rolled Down and Out

I rolled the position down to $41 and out to 11/18, for $2.48. The call premium still puts me above the original purchase price. One downside is that the next earnings report is before 11/18. However, another dividend can be collected.


Date Description AmountROIaROIProfit
2016-07-15Buy COP @ $42.79-$42.79


2016-07-15Sell COP 7/22 2016 $43 Call @ $0.51$0.51


2016-07-21Div COP @ $0.25$0.25


2016-07-21Buy COP 7/22 2016 $43 Call @ $0.03-$0.03


2016-07-21Sell COP 7/29 2016 $43 Call @ $0.33$0.33


2016-07-27Buy COP 7/29 2016 $43 Call @ $0.03-$0.03


2016-08-03Sell COP 11/18 2016 $41 Call @ $2.48$2.48


2016-11-18If assigned at expiration$41.004.02%11.64%$1.72
2016-08-03Current Price @ $39.95$39.951.57%30.08%$0.67
 

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