Like most stocks today, FCX is getting a bounce, so I would like to take this as an opportunity to collect some call premium.
FCX is trading around $7.12 as I write this.
My suggestion is going to be to this.
Sell to Open (1) April 17th - $7.50 call for every 100 shares you own.
These are the calls that expire next Friday, which technically are the monthly options.
You should be able to sell them for $.28.
This will bring the amount of option premium collected on this position to $.63.
If the calls are assigned next Friday, the return will be 21%.
