We were assigned shares of Apple (AAPL) and Gilead Sciences (GILD) on Friday, so I am recommending calls to sell against them.
Note that these recommendations are only for people who already own AAPL and/or GILD shares uncovered from a previous position.
AAPL Uncovered Shares
Current Stock Price: $126.83
Cost Basis: $132.08
Action: Sell to open the AAPL Mar Monthly (3/19) 128 Call
Current Option Price: $1.07-$1.08
Recommend Limit: Set your initial limit order at $1.07, but adjust as needed to sell a call today
New Cost Basis: $131.02
Expiration: After the close on Friday, March 19
Potential Rate of Return: I am targeting breakeven for this position
GILD Uncovered Shares
Current Stock Price: $63.93
Cost Basis: $64.75
Action: Sell to open the GILD Mar Monthly (3/19) 64 Call
Current Option Price: $0.56-$0.60
Recommend Limit: Set your initial limit order at $0.58, but adjust as needed to sell a call today
New Cost Basis: $64.17
Expiration: After the close on Friday, March 19
Potential Rate of Return: I am targeting breakeven for this position