Today, I would like to make a suggestion on a stock that reported yesterday.
It is Keycorp (KEY).
KEY does have weekly options and I am going to suggest a weekly covered call.
Buy KEY at the market, which is $10.72.
Then Sell to Open (1) April 24th - $11.00 call for every 100 shares you own.
These are the calls that expire next Friday or in one week.
You should be able to sell them for $0.32.
If the calls are assigned next Friday, the return will be 5.6%.
KEY is oversold and if the calls are not assigned next week, I will look to sell another round of them.
Based on the tracking portfolio, limit the stock buy to 500 shares or 5.4% of the portfolio.
