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]

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.