March 24, 2020 - MDT Alert (FCX)

FCX is like a lot of stocks at the moment ... oversold and getting a bounce.

It is moving just above the lower band on its daily chart today and I would like to use this as an opportunity to put on a weekly covered call.

Buy FCX at the market, which is $6.93

Then Sell to Open (1) April 3rd - $7 call for every 100 shares you buy.

These are the calls that expire next Friday.

They can be sold for $0.35 and I suggest you collect the premium.

If the calls are assigned next Friday, the return will be 6% for a week and one half.

Based on the nominal portfolio, limit the trade to 500 shares or 3.4% of the portfolio.

/by

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March 24, 2020 - MDT Pro Tips A.M. The Big Corona Play with Teladoc Health

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