I would usually just suggest you let the $6 call on CLVS expire today, but with next week being a short week, I am going to suggest you cover back this week's call and sell next week's.
With the Columbus Day Holiday on Monday, the markets are close, so you are only selling 4 days worth of call premium.
I don't suggest you leave this week's call open and given the fact that it can be bought back for a penny, that is what I suggest you do.
So, Buy to Close the October 9th-$6 call for one cent.
After you close this week's call, then execute this trade:
Sell to Open (1) October 16th - $6 call for every 100 shares you own. You should be able to sell them for 15 cents.
I usually like to capture more weekly premium, but with a short week, the price has been reduced.
This brings the total call premium collected on this position to 10.4% of the purchase price.
This alert applies to you only if you own shares in CLVS. Enjoy your long weekend!
