I am recommending we sell a call on our uncovered Western Digital (WDC) shares. The income we generate will reduce our cost basis as we continue with this recovery position.
Current Stock Price: $54.89
Cost Basis: $57.17
Action: Sell to open the WDC Nov Week One (11/5) 55 Call for around $0.69, but adjust as needed to sell a call today
New Cost Basis: $56.48