Our First Solar (FSLR) Aug Week Two (8/13) 90 Call is in the money, and we are on track to be called out of our shares at a profit.
This was a great example of a recovery trade in action. FSLR sold off shortly after we sold a put on the stock. But we were able to trade our way back to profitability by accepting shares and selling calls. Once again, a little patience paid off handsomely.
Current Stock Price: $96.19
Cost Basis: $88.53
Action: Allow shares to be called away
Profit: $1.47, or $147 per 100 shares
Rate of Return: 1.6% in 39 days, or 15% on an annualized basis