CLVS is just not performing as I would have anticipated. The stock is in an uptrend on its daily chart but continues to slowly drift lower.
And with call premium being so low, it does not make sense to continue with that strategy.
As a result, I am going to suggest you close the position.
Sell CLVS at the market, which is $5.92.
If you factor in the three rounds of calls sold against the position, the cash loss, if you traded the suggested 500 share lot is $295.
The loss is 8% if you add in the call premium collected.
I am going to suggest you sell the front week $7.50 call on the stock.
Here is the trade:
Sell to Open (1) June 26th - $7.50 Call for every 100 shares you own.
You should be able to sell them for $.25 per every option.
This will bring the call premium collected on this position to 50 cents per share.
If the calls are assigned this Friday, the return will be 9.4% for less than a month.
Of course, this alert only applies to you if you own shares in CLVS.