Friday, October 31, 2014

CVX Covered Call for Cash

Earlier this week when Chevron, symbol CVX, and the other oils tanked, I added to my position at about $115.    Today I will sell a call on that purchase.






A January 2015 $120 covered call will provide a boost to my income.   See the analysis below.  Note that in addition to the covered call premium of a mighty $2.25 I will also pocket the dividend of $1.07 provided I still own CVX on the next expected ex-dividend date of Nov. 15, 2014.



TheMoneyMadam