Correction to Mon. June 27, 2022 fearless, intrepid investor activities

Yesterday’s post was completely incorrect. My apologies.

On June 20, our fearless, intrepid investor DID NOT SELL ten covered call contracts on Novavax (NVAX) at a strike price of $US48, expiry date Friday of the same week, that is, June 24. (C 24JUN22 48.00) as we stated.

Nor did she sell 15 covered call contracts on Novavax (NVAX) at a strike price of $US52, expiry date Friday of the same week, that is, June 24. (C 24JUN22 52).

She actually sold 10 covered call contracts on Novavax (NVAX) at a strike price of $48, expiry date FRIDAY, JULY 1 and not June 24. (C 01JUL22 48.00).

She also sold 15 covered call contracts on Novavax (NVAX) at a strike price of $US52, expiry date FRIDAY, JULY 1 and not June 24. (C 01JUL22 52).

These two positions will give her $12,550 immediate premium income regardless of what the NVAX shares do. (The value of her NVAX shares is about $US135,000.00.)

For several weeks now, NVAX has dropped by more than the premium income she received for an overall loss in her “fun” portfolio.

As we frequently state, luck hardly matters with the habits of the Monday Morning Program. Writing covered calls does require luck. Last week, she was lucky! NVAX rose enough for her to buy 200 more shares of NVAX.

What is the worst that can happen?

What is the best that can happen?

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