Today I would like to make another recommendation on a stock that does have weekly options. And I want to suggest a weekly covered call.
The stock is Harley Davidson Inc. (HOG).
HOG had traded as low as $15 per share and is now trading at $21.70 as I write this.
I would like to make a suggestion similar to the CLVS alert from yesterday.
Buy HOG at the market at $21.70.
Then Sell to Open (1) May 8th - $22 call for every 100 shares you buy.
You should be able to sell the May 8th - $22 calls for $.45.
Limit the stock purchase to 300 shares or 6.5% of the portfolio. If you buy 300 shares, it would mean you would sell 3 calls.
If the calls are assigned this Friday, the return will be 3.5% for 4 days.
