The pop I was hoping for in Generac Holdings (GNRC) did not materialize today. I am recommending we focus on income by selling a call for a large chunk of cash.
You can enter today’s trade even if you were not in the previous one. Just be sure to first purchase 100 shares of the stock for every call you plan to sell. And be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $101.93
Cost Basis: $109.06
Action: Sell to open the GNRC Dec Week Two (12/9) 105 Call for around $4, but adjust as needed to sell a call today
New Cost Basis: $105.06