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OIB Trade Alert: SCHW

I am recommending a call to sell against our uncovered Charles Schwab (SCHW) shares to reduce our cost basis on the position. 

Note that this trade is only for members who already own SCHW shares uncovered from a previous position. 

Current Stock Price: $69.02

Cost Basis: $73.99

Action: Sell to open the SCHW May Monthly (5/20) $70 Call

Current Option Price: $1.66 – 1.79

Recommended Limit: Set your initial limit order at $1.71, but adjust as needed to sell a call today

Expiration: After the close on Friday, May 20

New Cost Basis: $72.28

Potential Rate of Return: I am targeting breakeven for this position

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