Another boring covered call I did yesterday...Apple

Discussion in 'Options' started by Cabin111, Jun 8, 2021.

  1. Cabin111

    Cabin111

    Would these fill automatically (Saturday noon), even if your eldest (POE) didn't touch them or made instructions?? We will have a bank's trust department handle our affairs when we are unable to. Just don't know if they would be on top of the situation...Hence the covered calls.

    Off subject a bit...My mother in law died about 7 years ago. My wife was given the right to the beneficiary money. She rejected it. The money moved to our daughters...Generational transfer skip.
     
    #41     Jun 10, 2021
  2. destriero

    destriero


    Obv they would be executed during the day sesh on Monday, but instructions would be given to the BD in question on a not held basis. The trust dept would give the broker discretion when able. In my situation I have only one kid of ag and my sister is on deck if my son is unable.

    Your wife's a saint. Most would not do as she did.
     
    #42     Jun 10, 2021
  3. Cabin111

    Cabin111

    Just chewing what you said...Not arguing. Schwab and Fidelity are not a fiduciary toward me...The bank's trust is. It seems Schwab, Fidelity, IB may not act in my/our best interest.

    My wife would NOT have given the money unless she felt our daughters were mature enough to handle it. One married a boring IT guy...The other an engineer.

     
    #43     Jun 10, 2021
  4. Cabin111

    Cabin111

    Just an update on this trade...Boring but so far profitable.

    I bought back my option for $4.24 ($424.+ fees). I then did another sell to open (covered call) for the March 23 $185. I got $7.90 ($790.) for it. Good paper profits, good quality stock, fair dividend, and more option money (plus $4.40-$4.24)...I'll see what happens.

    I'm willing to take it though a recession...
     
    #44     May 9, 2022
    qlai likes this.