Options, Trades and Ideas

Sold a Covered Call

I sold my first ever option! 1 contract, covered call on SSO.

Jan’09 with strike $23. Got $4.10 for it, which means I net $212.05 after commission.

Questrade options commissions are $9.95 + $1 per contract.

If SSO is above $23 in January, my shares will be called out. If not – I keep them. I want them to get called out, but won’t worry either way.

That was partly my intention in buying SSO – to try options. Just 100 shares, not expensive, but somewhat liquid.