Our Pfizer (PFE) Apr Week Five (4/29) 49 Call is in the money and our shares are on track to be called away. That was the goal, as the company is scheduled to report earnings on May 3. We will re-enter the position by selling a put after the announcement to reduce our net debit on the position.
However, if the stock closes below $49 and our call expires worthless, we will sell the shares before earnings.
Current Stock Price: $49.42
Cost Basis: $53.56
Action: Watch call expire