A Decent Covered Call Play, maybe, hopefully

[JPatrick]

Lost my PWAV to 12.5 calls last week, and though I still like the stock I decided to put that cash elsewhere.* Bot HOM for 6.83 and sold the Dec 7.5 calls for .50.
HOM is a reconstruction company that is set up to make hay in the hurricane zones among other things.* The calls provided about 7% for 4 weeks work, and if called in Dec another similar* amount.* This one has its risks and it has run up a fair amount already over the past few months.

[JPatrick]

Quote:

Originally Posted by davew894 How'd you get $.50 for the December calls?* I'm showing a bid of $.10 (HOMLU)and the stock is up $.24 today.

The first 60 or so contracts went for .50 and .55.* Then, as you noted, the bids slipped to .10.* Always got to be fast on the thinly traded options cause the bids frequently are not real deep.